Originally Posted by
Dentie
No, I was simply asking Balance if he sold any PEB shares above $1.20. But seeing you appear to be answering for him/her Skid...
I am quite aware why the NZX has rules governing disclosure by related parties. But I think in this instance, it is drawing a long bow to suggest the related parties selling had an effect on the SP - or that they were ramping the price up by their comments - just so they could sell at an increased profit. In fact, I mentioned in a recent post that, contrary to some popular belief, the amount of shares they sold seems to be totally insignificant - compared to their overall level of holding. I think a lot of the recent comments about these related parties is very mischievous - at best... and probably worth looking into further to be honest. Hence the comment about retaining a QC!
If these related parties had sold a large portion of their holdings (say, > 50 to 60%), then you might be onto something but other than that - they are quite entitled to sell like everyone else. Why should they be excluded? If Balance (or anyone else) sold their shares for anything more than $1.20, then it would appear to me they were doing it to profit largely....which is also their right. (Disc....I sold a few at $1.56 so my profit could buy more at the CR prices).
I'm more interested in looking at who initiates those big spikes (against the buying trend) just before the big announcements. They are the ones the NZX and FMA should be interested in. Before any excitement...no, I don't mean with PEB...I am talking generally across the market.
At the end of the day, maybe it's just envy or greed or whatever....but I don't think this is an issue that warrants sanctimonious comments from some that may not even be holding any PEB shares.