JORIN4 they chased the price all the way down to 24c from 32c and started by selling into what was developing into a strong rally on Tuesday Today they are not as keen to chase it below 20c...end of story.
when a seller chases a price down from 32c to 24c it is not capping.
I have no idea why their top brains have decided to sell at historical lows when if they are as smart as the salaries they receive seem to indicate, they did not sell when it was at $5 or $4 etc
I think they have made a huge mistake but that is just my opinion because a recapitalisation at 20c would have to be one of the last options.
I think they overestimated the fear factor in regard to the litigation news. The market doesn't really care,imho. It's all years away and in any case makes no sense. Think about it...they will get nothing if they bring cnp down to its knees..the banks will beat them to it. imho they would be better off offering centro whatever support they can and buying a few cheap shares at 24c and tripling their outlay in a few weeks time.
CNP Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
