GREY:HRIVF - Post by User
Comment by
discern1on Aug 23, 2011 9:45am
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Post# 18970187
RE: Severstal adds another 1% (.98%) of HRG
RE: Severstal adds another 1% (.98%) of HRGThe question for me is who did they buy from?
The current daily volume average over the last three months is 387K shares.
Severstal bought 8.2M shares.
This means that this transaction represents all shares traded over an entire month. If Severstal has been buying this aggressively, why have we not seen more price pressure?
The last time they invested this heavily, was last August as they cashed in to buy up all outstanding warrants. Within four months Severstal was publicly talking about an IPO.
Every share Severstal purchases is one less share they will have to purchase in a buy out.