Bacchus, dont get me wrong, I totally agree. And yes, it is mandatory for intitutions to pick up the stock.
However, I did find it unusual that at 16.04 today an order for 3m shares came on the sell side and was being matched.
Then after a couple of minutes, this 3m line of stock dissappeared. This was highly unusual. Was it a change of mind the last minute? I would have thought that if you have 3m of stock to sell, you would have a strategy in place and not change your mind after a couple of minutes.
The only other thing may be that the sell order should have been for 30,000 or 300,000 shares and there was a typo which was realised at the last minute.
Anyway, if anyone could explain this, I would love to hear.
VBA Price at posting:
28.7¢ Sentiment: LT Buy Disclosure: Held