Is there another big seller dumping their shares at 49cents?
Does this year count as the first year?
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Is there another big seller dumping their shares at 49cents?
Does this year count as the first year?
As I understand it the first sales have been made in the US. After the AGM I had a conversation with David Darling and a separate conversation with Chris Swann (Chairman) and I can tell you that both gave me confidence that this company is likely to accomplish what it is setting out to achieve.
I questioned them about the balance of scientist and more business orientated direction of the company and was happy with their answers.
Why do they all dump it at the end of the day? So it doesn't look bad dumping it during trading hours?
[QUOTE=Hancocks;425928]Why do funds or people sell, no conspiracy theory, just business?
I reckon that those who sell think their money will be more productive elsewhere. In that circumstance they have decided they should not piss about, and sit pat hoping for a dead cat bounce or some other stroke of luck, and be fatalistic and get what they can right away.
NZ Central Securities is owned by the RBNZ, and acts as a custodial trustee for thousands of local and foreign holders. So, Hancocks, I think you would probably be right in guessing that's where they are coming from. Unfortunately, that doesn't help much!
not to worry, they will be going to good homes. There was another block crossing at 5.05 pm at 49 as well, but that may have just been the bulk of the original parcel being flicked on to a final buyer by the broker who likely took on the parcel in their own name (we will never really know, but I like to hazard a guess)
baller, most funds and institutions like to execute orders in the opening and closing auctions, as it allows true price discovery with better liquidity than can be found during the day
but note, this trade today was an offmarket transaction between willing buyer/seller for a good volume (4.04pm)
Yep, we've been commenting on it every day, 50's, then 100's, then 500, and now 1mill
more volume as the price goes lower
my take is buyers happier sub 50, seller has urgency?
IMHO, there are those who earn their dosh in a respective way and understand what it represents and there are others who come into money without having earned it and therefore don't respect its value. For some, money is a kind of toy that they have fun with and when they've finished playing with it, they simply get rid of it and move onto something else. They don't think in terms of yield, capital gain or loss etc..........they just make decisions in a haphazard way. For the rest of us, who are trying to eke out a comfortable living for ourselves - in some sort of methodical and rational manner...well, we just gotta either suck it up or get out and do something else.
I gave up trying to understand why people make the financial based decisions that they do - a long time ago. In this current round of selling, I just think the positive way and thank the seller for providing a good amount of liquidity for those that see a great opportunity not too far ahead now. Maybe the seller is being philanthropic and doesn't need to make more millions?
understand this, price and volume action has shown those who care to observe, that someone is a keen seller. Buyers with any commercial nous will wait for the seller to 'come' to their price, and not pay up to the sellers offer. Hence a lot went through at 50, not higher, and then an offmarket buyer was only prepared to pay 49 for a 1m parcel
thats the market
works the other way when buyers are keener than sellers