RE: A share purchase .....8 Aug 2023 07:41
Morning ITT.
The owner of shares can choose to pass on them on at any point,of course as the shares are held by WPS Capital he would need to transfer them to himself personally first , if for example he wanted to gift shares to family, raise money for other projects personal to him, a tax bill or just reviewing his overall portfolio. Wealth planning (if you are fortunate enough to have any) is an ongoing part of life , particularly as you get older ,if you want to manage your tax burden etc.
I would guess, and it is only a guess, the significant movement of shares could be another transfer in progress. So no I don't think it's necessarily someone dumping, just tidying up.
One thing I have learned over the years it is possible to accumulate or move large numbers of shares through various vehicles and at the same time controlling the price to suit your endgame, sadly not for us PIs though. Just take a look at the number of shares Mr Drahi has accumulated in BT without moving the price.
As a caveat ....I could be way off the mark and is only my opinion ,making the call based on my personal risk/reward/exposure here. At this point ....I'm in.