Bloomberg data showed that the shares were crossed in four blocks for an aggregate amount of RM19.87 million.
Of this, three blocks totalling 7.59 million shares were done at 80 sen apiece, for an amount of RM6.07 million. This represents a discount of 12.6% to its closing price of 91.5 sen on the open market today.
Another block of 15 million shares were done at a slight premium of 92 sen for RM13.8 million in total.
I read the bursa announcement and noted that these are newly converted from WA..and sold by N2N Holding..so the new shareholders of 4.75% could be an invited one, ie..good to the co..luckily not unloaded by ind major shareholders
Hanger...the 4.75% sold nby Holding co was already supposed to be good news...they sold at 92 cents, but a week later I saw worst of 78 cents and rebounded back to 82.5...i think whatever good news never help if the operator or boss reluctant to do anything but to see it drops
You buy +_7m by 80Sen, and later on u sell all in one or two day, you can easy earn around 0.7 to 8m(assumed sell from 92Sen downward to 80Sen) , why not throw, haha.
If you are N2N Holdings..you do that because of this strategy as you said ?? Micsoh...Luckily you are not the boss of N2N...otherwise i better sell now...
I am not said the boss, I refer to the investor, it's normal lah. If u know the share price will down so deep, I am sure u will also sell first and buy back in low price.
Just like at first I buy the mother share at 93Sen, later on the warrant price drop to 41Sen, I also sell the mother and buy the warrant to convert, I earn around 7Sen, this is an opportunity, not dirty strategy. As long as your investment is profit.
Its easy for the bosses to hold or to buy back the stock if the frop was not due to fundamental..however the bosses left it drop without action nor buy back..its becoming suspectious as could be other reasons..technical or otherwise...70 cents today..drop 30% within a month..
I have been investing & speculating on this counter since 4 yrs ago. The trend has always been like that & repeating. Luckily I have sold everything since 3 mths ago & side-lined now for good bargains. Be careful & think twice before venturing since GE14 is approaching. As the old sayings which is always right, Cash is King!
Hopeless lar...still no holding and buy back action..what the boss is doing now ?? he said all kinds of great stories, never reflect on share price...must be collecting cheap cheap now
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
swordwa2
77 posts
Posted by swordwa2 > 2018-03-18 23:02 | Report Abuse
company itself and major shareholder are selling...why?