I'm pretty convinced now that it was a liquidation by CBUS after they were returned their shares from Adam Smith. Too small a holding for CBUS to manage and/or outside All Ords.
The volumes over the last 3 days have lined up almost perfectly with that 7.33M stake being liquidated with absolutely no regard for maximizing sale price.
The volumes have now dropped right off and the damage done technically from such violent action will take a little time to recover. But the double bottom floor held well and unless we get another surge in volume this afternoon or tomorrow to push SP to the downside, then this seems like an excellent entry point for short or medium hold and we have a legitimate theory for such a drop in SP over the last week.
DYOR, IMO
ISD Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
