Shades of Milton.
And there was I thinking Paradice was trying to acquire
more than the 5.07% announced September 12 (
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvTDYC6ge6yBaZruBxke92GA==)
But it has sold some..enough that the rest has disappeared under the plimsoll line.
It was noted the Paradice average price to buy it’s substantial holding was around $1.90.
As per statistics here (to November 7), it continued to buy (bar a sale of around 15000 shares ) until October 26.
Then started selling :
View attachment 1359439
View attachment 1359441
So possibly this is not such a big announcement?
It says overall since September 14, Paradice bought an additional 1,917,175 shares -average price a tad under $2.00...
...and sold 2,2946,745 for about $1.80 each. (Check the maths yourselves!)
So Paradice may not be lost after all and the exercise (so far ) has increased it’s average price.
What I do find curious is the last sale in the announcement of 85,493 shares (November 7) was the same day 2.5M shares were also bought (and sold) via S3XT at $1.80 .
Maybe those 2.5 million don’t count until they are officially registered?
Was Paradice buying them or selling them?
They will have to announce they are back on the substantial holder list, if they were buying, based on that trade alone.
Also curious:
On November 8, another 1.4 million were bought/sold S3XT for $1.885.
I find this intriguing because, on November 8, Shortman reckons trade volume was 2,446,663 and shorts volume was 1,008,182 - (41.21%!)
https://www.shortman.com.au/stock?q=Nwh
Assuming the large single off market trade was NOT in any way connected with shorting, and adding the volume of that to volume of short sales shows total trades thereby accounted for last Thursday were 2,408,182.
Which left only 38,481 shares to divvy up between the rest of us. (price ranging from $1.782 to $1.91.)
Anyway ... I think the market might be rigged !
The shorts win and so did that
buyer who took advantage of the price to grab a bargain.
View attachment 1359517
The next day Friday, November 9, volume of 880,000 was S3XT’d for $1.85.
ASX overall volume was 2,019,896.
Price ranged - (it’s being a bit temperamental ) from $1.79 to $1.905.
It will be interesting to see what percentage was short sold.
And will be even more interesting to see how NWH trades on Monday given Wall Street had another little faint and the DOW closed 200 points lower. ..and the shorting...and the buying and all.
Cheers
PS in case anyone besides me is interested, here is a picture of the candlestick chart again with the last three (kind of interesting) days marked in red. Apparently long wicks signify instability but it is clear Thursday’s central (black) candle with all of it’s uncertainty was concealing some very high level movement directed by opportunism and (I think) strong certainty.
Maybe Dimensional is increasing again ?
View attachment 1359547
(20min delay)
