I feel for all holders.Been on this roller coaster with GPT for...

I feel for all holders.
Been on this roller coaster with GPT for a while now.

It really does ask some big questions about the quality of our regulators... and why they exist if not to prevent such shenanigans.

I would guess (and its only a guess) - that if today's movement is not the dividend being paid (no idea when the ex date is) - then it is likely someone in the know about something tomorrow.

If it were sector confidence, then we'd see this sort of movement across the sector today - but AFAIK its rather pronounced on GMG.

So what are likely causes:
- confidence: There appears little doubt that confidence is being factored far too much ahead of intrinsic value. If this is all there is, its a great time to buy.

- capital raising: Obviously if people knew today that tomorrow a raising would be announced, those people would be selling. They should also be lightly fried in oil before being crucified - I have called for this before but noone listens.

- results: I cant imagine this is a big factor. The price already surely factors in a totally abysmal result... and its hard to be worse than abysmal.

- critical event: I understood the company owed $2bn due this year - perhaps the plan to deal with it isnt going so well (note: I may be well wrong)