Volume was large yesterday, over a million shares traded, and there werent many cross trades yesterday. Weve seen some large price drops in the past but usually on piddly volume and its like we had an unknown wave of sellers come through- potenially with some stops triggered given some large buying in December around this price. If you know a buy back is on and you want to exit a position why would you do it during a period the buy back is turned off? Very strange indeed. Perhaps Fosters oversestimated the intelligence of some sellers.
Knowing that the buy back is going to be turned on again at these levels youd think this makes an interesting short term trade proposition right now.
IOH Price at posting:
$1.33 Sentiment: Buy Disclosure: Held