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I think it works a bit like this, if you did ,say, 25m shares at...

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    I think it works a bit like this, if you did ,say, 25m shares at 25c VWAP on day one, then 25m shares over the next 19 days at 17c VWAP then the average would be 21c VWAP over the 20 days.

    Just assuming, could be wrong.
 
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