A while back @ecoool2 gave a masterclass on ADR's and who leads - MSB or ME$O. At that stage he estimated circa 8m ADR's comprising 40m Aussie shares. It seems that is now about 10m ADR's comprising 50m Aussie shares.
(1) Last night's volume of 30m ADR's churned three (3) times the ADR's on issue, indicating a ridiculously thin market for a stock now in such demand, internationally. And that demand will grow over the weekend.
(2) Any overseas buyers who want any sort of position in MSB will be in the ASX Monday. Add to that Aussie insto's (ASX200 inclusion is a certainty) and the shorters attempting to cover their positions. This is gonna be huge.
(3) Further, I think the exception to @ecoool2 's "take your pick who leads but prob MSB" thesis is where there is an unprecedented A$2.00 difference between ME$O leading into the next MSB trading day. I don't think this has occurred before and represents a massive arbitrage situation. Add to that the unprecedented volume. This the perfect storm for a day to remember Monday.
Why would you sell early, if at all.
With absolute respect to the Master, this is the relevant part of his post:
GLTAH!
MESO action tonight, page-437
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Last
$1.45 |
Change
0.065(4.69%) |
Mkt cap ! $1.655B | |||
| Open | High | Low | Value | Volume |
| $1.39 | $1.50 | $1.38 | $7.016M | 4.856M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10425 | $1.44 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.45 | 44243 | 5 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| MSB (ASX) Chart |