It is not the "dumb retail" money buying this from what I can see.
Based on the substantial shareholding disclosures from Pinnacle/Hyperion and Aware it looks like it is those two institutions doing over 80% of the buying.
Pinnacle/Hyperion has bought over 5.2m shares after IPO and Aware has bought about 1.5m shares for a total of about 6.7m shares purchased on market after IPO up until 27th June. In same time Commsec shows 8.3m shares were traded until 27 June. So it looks like Pinnacle/Hyperion and Aware have been the ones buying over 80% of the shares on market.
Calculations below and happy to be corrected if anything I am missing.
Morningstars Analysis of GYG and IPO price, page-31
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Last
$39.24 |
Change
-0.650(1.63%) |
Mkt cap ! $3.980B | |||
| Open | High | Low | Value | Volume |
| $40.30 | $40.97 | $39.21 | $5.263M | 132.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2 | $39.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $39.40 | 51 | 1 |
View Market Depth
| Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
| GYG (ASX) Chart |