This is a very interesting read attached.
http://www.sharechat.co.nz/article/0...tal-raise.html
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This is a very interesting read attached.
http://www.sharechat.co.nz/article/0...tal-raise.html
Unusual for a broker to cry foul, but he's right.
That's not a leaky boat, that's Titanic proportions !
But the regulator I'm sure will do nothing.
I understand why people think there may be something dodgy going on, and possibly they are right. But, for those that may have not been around long enough to see it, the XRO SP has on countless occasions jumped up and down by similar margins without anything obvious driving the move - so it could simply be another typical XRO price movement. Then there is the timing of Xerocon which always adds a good amount of buying pressure, a bit of extra positive sentiment articulated through the media, and I think you have as good an explanation as any (IMO the best explanation).
That being said, the FMA should do a bit of digging - start with the share register and then go from there. Market participants deserve to be reassured. Don't hold your breath though......
That's not exactly true - take a look at the 6 month chart, there are several occasions where the SP has fluctuated significantly on no new news. My point really is that if you look at this recent trading pattern in isolation it doesn't look great (I agree), however, those of us that have been around long enough will know that such price movements are not that uncommon with XRO and can therefore be easily attributed to reasons other than dodgy behaviour.....
Takes two seconds to bring up a chart mate and figure it out for yourself.
Re-read my earlier posts as well by the way, I'm not dismissing the idea that something dodgy may have occurred, simply providing a bit of balance based on a longer term view. As you well know, many on this forum can have quite short horizons and XRO has been trading for close to 10 years now - there is much history that I believe most are not familiar with.
Totally agree been following XRO since day 1 and have got used to their wildly fluctuating share price.
Been to a couple of their investor presentations and have been impressed with Rod Drury- his honesty and openness in what he says. If as Rod says on their new share raising: "We're pretty confident it's not (related). We kept it super tight and we keep a good close eye on the register, so we're very careful about that," I for one believe in the man
Current rumours of an IPO by MYOB will give Rod Drury his long awaited chance to compare Apples vs Apples
Should be another boost to XRO price?