The Substantial Shareholder Notice lodged in August by the T Rowe Price organisation showed that they'd not been prepared to buy shares at more than 21.5c as they quite rapidly built up a holding this year. Since then though, a party or parties has certainly been prepared to do so.
Daily Volumes seem to have been above average of late and a fair amount of stock in RED was crossed at 26-26.5c last week (with even a handful of trades being done at 27c). If some shareholders are prepared to accept lower than these prices, it'd make sense for a buyer to hold back a little and see just how much stock they can soak up at lower prices.
This activity may simply be the result of a patient accumulator taking a view that RED's recent problems are behind it and that the time is ripe to build a decent holding in what appears to be an under-valued stock with quite bright prospects.
Alternatively, it could also be a potential predator building a base from which to launch a bid.
I noted a comment within a piece about RED in Friday's The Australian that "Market sources believe Red 5's shareholders would be supportive of a buyout of the company ... ". Possibly kite-flying or possibly a relatively informed insight.
One aspect though is that if the recent buying is leading to an offer being made, those doing the buying are outlaying a bit of cash by buying on market. As I said, it may simply be the acquisition of a stake upon which to launch a bid. But it could also indicate that if there's to be a bid, it could quite possibly be a cash bid.
Given the rumours about a particular interested party, I'd think a cash bid would have more appeal to RED shareholders than one simply offering them over-priced paper in the bidding entity.
- Forums
- ASX - By Stock
- RED
- Recent Trading Activity
Recent Trading Activity
- There are more pages in this discussion • 69 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add RED (ASX) to my watchlist
(20min delay)
|
|||||
Last
42.5¢ |
Change
-0.005(1.16%) |
Mkt cap ! $1.472B |
Open | High | Low | Value | Volume |
43.0¢ | 43.5¢ | 42.0¢ | $13.48M | 31.70M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 290926 | 42.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.5¢ | 48931 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
14 | 119921 | 0.420 |
7 | 443383 | 0.415 |
7 | 382333 | 0.410 |
4 | 174289 | 0.405 |
25 | 519949 | 0.400 |
Price($) | Vol. | No. |
---|---|---|
0.425 | 16338 | 2 |
0.430 | 225983 | 4 |
0.435 | 533437 | 6 |
0.440 | 510057 | 8 |
0.445 | 359434 | 4 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
Last
42.5¢ |
  |
Change
-0.005 ( 0.96 %) |
|||
Open | High | Low | Volume | ||
43.0¢ | 43.3¢ | 42.0¢ | 4377291 | ||
Last updated 15.59pm 03/05/2024 ? |
Featured News
RED (ASX) Chart |