About 28M traded today. Who is this mystery buyer?
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About 28M traded today. Who is this mystery buyer?
Not necessarily a buyer.....
Algorithmic trading via direct market access with no change in beneficial ownership of the shares...
Buyer and seller potentially essentially the same entity.
If there is no beneficial owner change I think it's illegal in NZ. The broker who provides direct access is responsible to ensure clients dont do it either by accident or intentionally. I think Craig's or some other firm got a fine recently for this. Interesting new world of investment.
You are right about that, not legal to do that kind of trading here.
Amounts to market manipulation as one attempts to create the illusion that there is high interest in a stock.
The more likely explanation is that Kiltearn are dumping all of their stock in short order, causing the stock price to plunge while some other organisation is buying up just as aggressively.
Wouldn’t surprise me at all if someone was trying to buy up to the 19.99% limit at a bargain price before attempting a takeover (and paying closer to intrinsic value for the remaining shares). That is what Vero tried with Tower a year or so back (though they were ultimately unsuccessful).
Looks like Blackrock are the stock-dumping culprits!
http://nzx-prod-s7fsd7f98s.s3-websit...147/296979.pdf
Jupiter one of the buyers - picked up 4.24 million.
http://nzx-prod-s7fsd7f98s.s3-websit...209/297072.pdf
Really interested to see who else was buying up large when Blackrock decided to tank the share price.
If we are to believe them... that they were just rebalancing due to changes in the international indexes...then I think that is a crazy investment philosophy. To buy such a large stake in a company, only to realise a large loss in a relatively short period of time because of a change in The Dow?
Not my idea of investing.
https://www.stuff.co.nz/business/111...n-stewart-vows
I am sure Chris Keall (now working for The Herald) will write an equally objective piece about Sky and the new CEO when he gets an interview (Yeah, right).
I appreciate robust journalism, and certainly Sky need to answer a number of frank questions - but Chris Keall is so biased against Sky while fawning over Spark. It's embarrassing to read.
Chris Keall's article.
https://www.nzherald.co.nz/business/...ectid=12214820
New CEO not a fan of how Fanpass was sold amongst other things and maybe why the HO sport left
Yep.
However, Martin discussed a wide range of topics yet Chris (unsurprisingly) comes out with a negative and emotive headline: "New Sky TV boss trashes his company's own Fanpass service".
So, of all the things that were discussed - that was the most important talking point in Chris' mind.
He is incredibly biased, and surely can't honestly believe that what he prints is objective journalism.
And, for the record, though Fanpass pricing is absolutely ridiculous you can cast from the Fanpass app to your big screen (unless you buy the $15/month mobile-only option).
I used to pay close to $99.00 for just basic plus sport,when they brought in the new lower cost plans,I phoned them to sort out a new package,after being on hold for over a quarter of an hour,I emailed them to cancel and sent the decoder back to them.Just goes to show simply answering the phone might increase their customer base.