There's certainly been regular bouts of large buying averaging around 25k - 30k at a time going through over the past week or so.
Just looking at the past few days:
Fri: 50k at 11:00, 30k at 13:23, 25k at 13:32, 30k at 15:42, 20k at 15:46, 20k at 15:50, 30k at 15:57
Mon: Between 10:03 and 10:16 5 trans approx 25k each, 35k at 11:02, 25k at 12:20, 20k at 12:37, 25k at 15:05, 20k at 15:44, 55k at 15:57
Today: 20k at 11:02, 15k at 13:36, 25k at 14:14, 20k at 14:29, 40k at 14:37
The volume of these trades are in excess of the short trades.
Some of them have pushed the price up, some have bought the price down, some have just maintained a flat line.
So I can really only derive two reasons:
1. Confidence in BAL and resolution of the CNCA licence..... OR
2. Classic pump n dump.
Anyone else have any thoughts on this?
Obviously I'm hoping for the first option, but am prepared for the second (i.e. preparing not to panic and sell out!)
I'm expecting/hoping to hear about the CNCA licence within a few days, and definitely expect to hear from BAL prior to the CR buy back deadline on 17/08.
Expand
