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NEA $1.58

Selling stopped?

  1. Kfann

    566 Posts.
    Hi all,

    Last Wednesday's trading was remarkable for 3 reasons:

    1) Largest volume for 7 weeks,
    2) apparent panic selling continuing (SFI induced?) and
    3) Morgan Stanley absent from the market.

    Paradice has/had been selling down through Morgan Stanley....dominating the sell side every single trading day since Jan 14th. Except last Wednesday. On the biggest trading day this year, they were a complete no-show. It also looked as if they were running out of puff on the Tuesday when they did only 552k of the total 3171k.

    So either Paradice are no longer happy to sell at these prices or they have handed the selling to another broker (possibly UBSW?). But I suspect they may be done.

    And congrats to the punters operating through one of the brokers on the Pershing platform; they picked up a total of 1.169m at an average 53.35c.

    Bring on Wednesday.


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