The margin for this pure "arbitrage" trading is very low... and hence, I don't think such small gains are the real underlying reason for this trading behavior...
The aggregated short position of STX went from 62m on 14th Aug, when the t/o announcement was published, to now over 100m shorted shares as of 19th Sept. I think, the delta of 40m additional shorted STX shares were used to buy about 80m TPD shares in the last 5 weeks or so...
This would represent more than 10% of the (fully diluted) capital of TPD...
I think, we can count those shares to the STX camp and hence, those shares are helpful to get the TPD transaction over the line...
(whoever might be behind these actions...)
We saw a very similar pattern during the WGO t/o...
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The margin for this pure "arbitrage" trading is very low... and...
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Last
18.5¢ |
Change
0.015(8.82%) |
Mkt cap ! $530.0M |
Open | High | Low | Value | Volume |
17.0¢ | 18.5¢ | 17.0¢ | $2.155M | 12.01M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 851855 | 18.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
18.5¢ | 131078 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
11 | 851855 | 0.180 |
15 | 1157857 | 0.175 |
36 | 2216342 | 0.170 |
28 | 2089452 | 0.165 |
39 | 1603646 | 0.160 |
Price($) | Vol. | No. |
---|---|---|
0.185 | 131078 | 7 |
0.190 | 1377431 | 12 |
0.195 | 1127755 | 4 |
0.200 | 894999 | 13 |
0.205 | 685147 | 7 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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