PT,
firstly that's how they always do it. WHen you gotta take a dump you gotta take a dump. Secondly, it was a slow start today. Probably most of the 80 mill where insto sales.
If they were sold down progressively throughout the day it still would have driven the price right down regardless.
30 million shares at 1.6 cents = 480k
By selling down progressively throughout the day those 30 million shares might have yeilded an average price of what?? say 2-2.1 cents? Or $630,000. That's significant difference if it was one seller. But we clearly know it wasn't. It was a few funds who all had to dump what little stock they were holding due to ASX 200 rebal. So in reality the difference of maybe 150k that those funds could have got between them is even more chicken feed than you might think. Understand???
Also, it meant even more so that I was right about HC Posters lying about their holdings since only now could we potentially have 180 million of the shares (excluding non HC shareholders) since at least 30 million where dumped after close.
Naughty naughty.
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