Big sells - No share price change18 Oct 2013 09:10
First ever post on here and I'll freely admit, I'm a novice when it comes to share dealing.
Yesterday I observed something that puzzled me. There was 48,288,949 shares sold and 284,000 shares bought. 48 million wow that is some figure! Delving further I saw that 47,925,449 of the shares were sold in 11 trades between 13.04 and 13.27. That's 17.27% of the MC of the company. All these shares sold but the share price didn't budge at all. All the sells were at 20p except for the last 2 which were at 19.96 and 20.06 respectively. How can such big sells, a staggering 17.27% of MC, result in no drop in the share price? Like I said I'm a novice, so am I missing something here? Is something brewing?