While it is still early days - MA 200 is at $4.73. SP dropped last week under this line, tried to recover on Friday but didn't quite make it. Down again today.
Sure - just one TA signal, but ignore at your peril ... feels there might be anyway too many fees and hype baked into today's share price.
Last edited by BlackPeter; 29-06-2020 at 10:23 AM.
Reason: Oops - MA200 is obviously $4.73 - corrected.
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"Prediction is very difficult, especially about the future" (Niels Bohr)
Seems unlikely. Institutional raise of $250 m had already been completed. Don’t think retail shareholders could manipulate price down or materially benefit from it given $50,000 cap per shareholder and likely scaling. SPP only $50 m.
More likely that Institutions who bought up large in hope of quick gain decided to exit overweight positions without the profit they hoped for in my view.
Could have been done retail investors selling existing share and hoping to replenish then with cheaper SPP shares too. Risky with potential scaling though.
Competing offers for Australian Renewables player Infigen Energy puts interesting perspective on Tilt’s valuation.
Also, what are the odds on IFT wading in with a competing offer with their half billion of cash as a down payment? Having said that, not exactly Morrison & Co.s modus operandi to publicly scrap over investment acquisitions rather than concluding a deal behind closed doors.
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