RE: L24 Jul 2018 15:35
No gumbo007. This is just my view and I might not be correct. However, on SETS the info is limited. We could see that it was one mm who lowered the price. We could see the others not follow suit and we could see the 40 million being bought. We know that the latest acquisition was entitled to sell some shares in the first six months and probably had an order to convert some to cash. Which is understandable they are in it for the gains but require some working capital also. They would not want to damage the price as they are holding more than most.
Hence the walk down to a negotiated level, retail investors were only too happy to take the shares off them at this discounted level, given the company prospects, multiple drills lined up, news-rich period coming, and the fact the CEO said the price was to low at.67.
I assume the overhang cleared because the market maker that was holding the level, released it and let it go. It is always hard to read what they are upto -so always a best guess situation.
Now it looks that those that were waiting on the sidelines are trying to get in. Time will tell. I was happy to take some more today.