portfolio selldown

This is a really poorly managed selldown by a major shareholder and goes a long way to explaining the ruthless clearing of buy lines in the market depth.

It's also a problem when the company lacks a solid underwriter who can arrange off market transfers of stock to other hands. It really should be in the best interests of the company to arrange a stable register - the way that this sell down has been conducted means that the 800k odd shares that he has sold over the past month has gone potentially to a large amount of smaller hands rather than one or a few buyer - obviously that has it's pitfalls as well, however as you can see, allowing a substantial shareholder to belt the price down like this can't be seen as being an ideal situation for the company who are trying to raise a substantial amount of capital. Silly play in my opinion

Still holding the oppies and have no issues doing so - it is quite possible that this shareholder is looking to liquidate the whole position after some large orders went through after the announcement was received.

Marchello