I think it is a pretty good sign that despite another 2.4m shares being sold today the share price held up pretty well and there were some strong buys at 9.18 at the end.
The selling pressure has to ease obviously, we have seen circa 41m shares traded in 11 days...not far off 4m a day which is extremely high historically, pretty close to 20% of issued shares. If none of this activity has been from the Top 6-7 shareholders then you have to assume it is largely from institutional investors who got in at $11.25 and taking their anger out by dumping stock.
What will be interesting is to see if there has been any significant mvmt in the Top 20 shareholders and get a feel for who has been buying such a large volume of shares!!! You have to feel some substantial holder updates are due given the sheer volume of turnover....
post emergent sales are off the scale, page-15
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Last
$3.77 |
Change
0.010(0.27%) |
Mkt cap ! $1.443B | |||
| Open | High | Low | Value | Volume |
| $3.75 | $3.77 | $3.72 | $1.142M | 304.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6264 | $3.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.77 | 3495 | 1 |
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| Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
| NUF (ASX) Chart |