It looks like CBD has another substantial player aquring CBD shares.
Bank of America bought initially 19.8 million shares thus becoming substantial share holder with over 5% of the shares.
Subsequently they have sold 7.1 million. this reduces their holding bellow 5 % hence the second notice.
This leaves them still with 12.7 million odd shares that are now bellow the radar, no further substantial shareholder interest change notices required.
The question then is :Have they bought the shares as longer term investment or do they want to trade the share for a quick profit?
If they just hold the remainder of 12 million odd shares, that would make the shares more tightly held, less attractive to traders but increase the upward pressure on SP in my opinion.
If they want to be in for a quick profit they must be fairly positive about the future, of the SP going up.
In any case having another big player on board can not be a bad thing IMO.
So even if the press reports on renewable energy in general have not been all that encouraging, I believe CBD is still on the top of the game. We did not have any bad news from company itself. So think should be OK. No news is a good news IMO.
CBD Price at posting:
11.0¢ Sentiment: LT Buy Disclosure: Held
