With 29.5 Mil shares and seemingly the main contributor to CKA's major drop of late (and persistent selling over the last year pining the price down). What would happen if they stopped selling and sold all their holdings to another insto?
My thoughts, we would see a double in current price at least... I.e. 15 cents.
- We know Blackrock have closed their funds, as a result are forcing a sell down even when completely illogical and ridiculously priced. This has obviously pushed the price down to stupid levels.
- Most investors are staying out until Blackrock has finished selling, or until we get forestry permit and Platinum funding. So we should see a flood back of those investors.
- With potentially 3 bits of news coming through, Forestry permit, Platinum, and if Blackrock sell their remaining shares to an insto, there wont be many sellers coming through to sell into the buying crowds.
Every time I see the sell depth dry up, and no sells on the board I hold my breath in hope of Blackrock finding a suitor. This time around it looks very promising - reason why is they just put out a 'change in substantial holdings' announcement. Were they forced to do this or voluntarily did it because they have a suitor?
Purely speculations for the moment... interested to hear comments on plausibility? Wouldn't it be nice though? Not many sellers other than Blackrock.
CKA Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
