RE:RE:22.5M Financing...Nutall doesnt have that much options too choose from anymore and he needs to rebalance when some of his holdings get "overvalued".
Eric would have seen OBE's presentation at the sept peters show.
If he wanted...Raymond James or Stifel would have sold to him. Its nutall...he has pull with any broker.
I agree...a splash announcement without any twitter warning in advance on TV is how Eric would do it.
Even if not Eric....Obe for sure has a big buyer. I personally watched OBE almost every second from 7:30 until like 8:50 and had shower.
I was testing. Be like 1500 shares on bid at 4.97 and I would rip like 7000...seeing if the ask would then become 7000-1500=5500...nope insta filled iceberg buy order. Bid stayed at same price. That is not retail. 99 percent sure. Test many times. My large sells should have taken mins to be filled but it was insta.
Anyone selling today over 4.95 didnt stop the momentum. The big buyer seen oil sentiment stop...knew he was only person keeping stock up in early morning and he stopped.
Then it looked like he came back at 4.72 range.
I wasnt the seller between 4.70-4.75. Massive seller that then came on scene. I was testing him with buy orders today in this range. Be 5000 for sale at 4.72 and I would put a 15000 bid and not budget it. It would still show 5000 for sale at 4.72.
Then large buyer took over and we over hauled this range. I was backing away and letting him do work here.
Not saying it was Eric and we will find out tomorrow but Eric had incentive today to try drive OBE over 5 if he was going to mention it tomorow. Make retail pay over 5.
Then Eric has an instant paper profit for Ninepoint.
JohnJBond wrote: If Nutall has it in his radar he won't say a thing about it on TV until he has his full position. Once he starts talking about a company, it means he is no longer trying to buy, and now he is in the hold or sell position.
With companies like OBE being closely held and hard to build positions - it takes a long time to build a position. During that time, you either don't talk about it, it bad mouth it.
This placement would of gone to the broker's IPO regulars, and company insiders - none of which would of said no, because its an instant profit, and they don't want to get left out next time.