I can post the WSA broker data but it looks similar to the IGO data above, e.g. most of the volume going through insto brokers. It makes sense as WSA/IGO are insto stocks that don’t tend to be moved by retail trades - they’re not similar to say a Poseidon. The interesting thing about the IGO volume is that one investor has dumped a $50m (or more) line in IGO at less than $10 and basically around market. A line of stock that big with no meaningful premium usually means the trade was seller driven not buyer driven.
Your questions seemed to be framed in a very negative manner. I would counter and suggest the smart money has already moved and has already been positioned for many weeks - see my very first post from a month ago which showed the the abnormal volumes when this news was leaked.
Why has WSA fallen when IGO hasn’t over the last few days? Looking at stock movements over just a few days is typically fraught and you’re usually guessing anyway. But to take a stab at it, we’ve had a backdrop of falling base metal prices, equity markets down, a pretty average quarterly result from WSA, and other lithium companies reporting rising spodumene prices. The price action makes sense. As a WSA shareholder I’m not overly concerned. The company hasn’t actually put itself up for sale but I would be surprised if IGO are the only ones currently in the data room anyway.
WSA Price at posting:
$3.16 Sentiment: Buy Disclosure: Held
