August 02, 2012

Who are the Buyers of BJF Now?

Can Starbucks add an upwardly sprightly price? 
For one, this is a much dreaded counter in terms of quantity turnover.

For days the bids stay almost in comatose.

Then it will get up from the Rip Van Winkle mode and fly a bit before dozing off.

Reason being?

Only about 18% of the shares are in free float.

So, given today's situation while we are waiting for the new rights to be announced particularly the subscription rate and also balloting policy for the excess applications (6 August), who are these buyers who are pawing down the prices day after day?

The new rights will be traded beginning 13 August.

Until then, the number of shares in BJF remains the same.

So, who are these buyers?

Opportunistic will be the word to describe them.

They could possibly be those who sold earlier at higher prices and want their shares back and those in alliance with any mop-up mission by Vincent and gang.

Will the price maintained traction on 13th August?

May be that is why the sellers are lining up to sell?

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