Just to be clear all as I’m seeing talk of leaky ship etc causing the dump on Thursday. It wasn’t. It was one holder that I know personally in the US holding an ASX account. His mode is to ALWAYS exit before results.
This exit is usually timed to have had a run up with results expectation. So grabbing a bit of profit.
His entry was 14c and held $1m (USD) worth of stock. That’s just under 10m shares. Which he sold as on market for open that day.
Decided on way home from work that without clarity of when TD would occur and looking at overall stock market and economic macro, that he would exit all, even with a 20-30% loss, so at least save his cash if it was to be a duster…….cash he’d built up from $50k in 2 yrs since Covid crash.
So life changing either way that he couldn’t risk that pot.
Thats ALL it was. But his dump triggered stop losses and margin calls that accelerated the selling.
Hope that’s clear and stops any speculation and conspiracy theories.
Heres to some news in the next 2-3 weeks…..and another JRI interview with good news (fingers x)
IVZ Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
