We have to remember that AXE management issued 10m new shares prior to the Ex date so effectively Insto's buying into Archer received roughly 2.2 million ITM shares. Along with other holders (i wouldn't be surprised if Regal outed some of their holding) the first day was always going to be flat with these guys potentially selling as its not within their portfolios mandates.
Good story with these guys, good luck all.
ITM Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
