It could be im overly optimistic on data centre sale(+leaseback), and it might just be some minor assets, but to me its the logical move. With limited capital money needs to be redirected to higher growth areas, and our data centres are in slow decline. So recapitalise them, sell the small non-critical ones, reduce some debt, maybe plan on building one or two new big ones to replace them (eg one big one in Perth), i still have a lot to learn about Data Centre's but i believe the industry has changed a lot since ours where built, and large scale is much more important now.
There where some big buyer(s) accumulating yesterday, was looking closely for the ~100k orders, there where a couple just after the open, then at least one as support that got taken out as SP drifted down, then they bought again at the end of the day and pushed it up. I expect one is still Janchor, not sure if there is another.
They must be making it hard for shorters at least, SP looks weak, they must be wanting to short, but they know the big orders are coming to push it back up.
The few accumulators are taking up the selling pressure, but i think if they stop it will drift back down to below $2.50, hopefully some news on Monday will change that trajectory.
I expect today to be similar to yesterday, except perhaps some more nervous selling
VOC Price at posting:
$2.63 Sentiment: Buy Disclosure: Held
