It is certainly encouraging to see the response from...

It is certainly encouraging to see the response from shareholders following the two excellent announcements last week. Since the closing low of $2.52 on 11th Feb, every time the s/p stuck it's head above the $3 parapet, it had it's head blown off and retreated back to lower levels. I believe that the sellers are mostly the 'instos' and 'sophisticated investors' who took part in the $2.10 CR placement announced (after a TH) on 16 Sept 2013, and maybe some of the retail investors who took part in the NREO of 1 share for every 89.4 held - both of which were over-subscribed. Why wouldn't the instos and SI's take profits of over 40%?! ($3.045 = 45%). Hopefully they're done, and it's just us L/T holders left!

The question is; who is programming the Bot(s), who have, in an algorithmic frenzy, been gobbling up shares on the way down, and now (thankfully), on the way up? The evidence has been obvious with typical recent trading sessions going: 2...30...3...32...2...33...and so on, (between the serious trades from real investors). They are not partial trades. Incidentally, if you didn't know; apparently the Bot programmers (probably a broker) do not pay brokerage on each trade, but on the volume traded at the end of the day. The bots have been set to 'accumulate', which poses the question in my mind; is this a precursor to a take-over bid down the track?

FNP also have a 17% holding in the a2 Milk Company (ATM:NZX) and ATM included this comment in a recent announcement:- "a2MC further advises that the Company’s financial results for the 12 months ended 30 June 2014 will be released during the week commencing 25 August 2014."  As a shareholder in this company as well, I am hoping for some really good news that will lift the s/p of both companies!

NB: AIMHO, and please DYOR.
Cheers,
Blundoon