ABX (formerly ABZ) went 16-29c when Raffles and Hudson exited - they were a persistent seller, but no where near as bad as Blackrock - so there is some comparison, similar market caps too
How foolish are BR though, selling the stock from 14-7c to exit 5M, whilst halving the value of their other 30M - it is pathetic. Why did they not seek a suitor off market ? Is it sheer laziness and the position so small in comparison to fund size not to worry, or perhaps an axe to grind if they were overlooked or cut back on funding placements in favor of Platinum ?
Also, I now know the reason why someone consistently drops volume to widen the spreads on the buy side. The other day the stock had a bid of 7.5c, followed by 6.6c bid. Coincidentally, there is always just enough volume to open it up to the next lowest bid, which for those trading CFD's immediately opens margin calls down to 6.6c, even though the stock has never traded below 7.5c. This has happened all the way down from 13c, and if you notice again on today's close sold into the bid exactly to then expose people to overnight margins to 7c
Like I said, the tank has been largely BR selling like fools and some people working over margins calls on CFD's
Will get an updated list of broker trades tomorrow for past 2 months
CKA Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
