NEA 0.00% $2.10 nearmap ltd

I believe its algo execution engines trying to buy (for short...

  1. 274 Posts.
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    I believe its algo execution engines trying to buy (for short covering purposes) a certain volume for the day, and aiming to keep their VWAP below $2.10. So they nibble at it until later then have to drive the price up a bit in order to get the volume needed through for the day.

    I don't think this has anything to do with buying by First Sentier - they are a fund manager and seem to have done their buying over the last few months.
 
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