Looking at the volume going through I would suggest that the action is due to the SP being very undervalued and oversold of the past few months.
We need to remember that institutions bought into the stock at $1.30 and since then there have been some big announcements. At this price it is worthy of the accumulation that we are seeing today. I would not be surprised if an institution has some insight the guidance we are expecting later this month.
The Afterpay deal has shifted the sentiment within the sector but added to this is that SPT technology is a great candidate for an acquisition given the nature of the technology. It is exactly what we needed to turn the SP back north. I'm expecting to see it going on a bit of a run here.
