You guys are probably right. Hopefully nothing to worry about...a bit of consolidation after the strong run last year was probably to be expected. I'll go back to :sleep:
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You guys are probably right. Hopefully nothing to worry about...a bit of consolidation after the strong run last year was probably to be expected. I'll go back to :sleep:
If its helpful Roger, then it would be safe to say that a 10% dip from September until today is actually quite benign considering some of the global carnage out there.
Last year, half year results were released 19 Feb, I think the rule is insiders can't buy this far out from results. Previously insiders bought from instos when they sold. If the big volume offerings at $1.45 are instos exiting, expect further weakness down to 200 SMA.
Half year is the date; revenue is the key
I always thought that a company that is likely to miss guidance by more than 5% will announce such a deviation around a month prior to the earnings announcement. If we are expecting half year results around 19 February (as it was last year), which suggests 18 Feb this year (third Thursday of Feb), then Skellerup would have already disclosed this.
Given that the last message around guidance was Sir Selwyn Cushing's speech at the AGM on 28 October, then we can only assume that the strong increase in profit is still all on track.
Looks like one big seller has the sp strangled at $1.45 with a big lot on offer.
I guess these things happen - and I never can understand the motivation of traders putting such large packets into the market instead of selling in smaller parcels ... unless, obviously - unless they want to influence the market in some funny way.
On the other hand - SKL is in my view an investment, not a trading stock ... so - who really cares about the daily jitter?
Yes I agree it is an unusual way for an insto / larger shareholder to sell a holding. Seller has gradually come down from an original ask of $1.50 so they're determined to clear their stake and until that's gone its probably fair to say the price is capped. Hopefully the depth we see on market is all they have to offer.