There were 300m free AKKOA given in the last placement and I know Hartleys took at least half of that. I assume some were given to their clients for supporting the stock between the 1st and 2nd tranche. I would assume that Hartleys probably kept about 75m of these for themselves.
Of course Hartleys would be talking "Best Buy". I am sure many of their clients are losing money at the moment as well on AKK.
Don't forget that Hartleys are also getting paid by AKK to do research reports and coverage.
Whenever brokers talk always take with a grain of salt.
Would not surprise me the most of the selling when the shares went from 3.1c to 1.9c were from Hartleys.
I know a couple of brokers from Hartleys myself and I can tell that they are equivalent to a real estate agent.
They get a 5-6% placement fee when they raise money so this is what they are really after. If the shares fall ... well they don't like it but its you who end up wearing the loss anyway.
AKK Price at posting:
1.9¢ Sentiment: None Disclosure: Held
