The Astro Sellers-Who Are They?

Falling with Selling Gravity from a Big boy

With Astro's price plummeting from Day 1, who do you think were these sellers selling down the counter as if it was sampah sarap?

Let me speculate who will sell below IPO price?

Short sellers that will sell down the price only to buy back later at even lower prices.

Is this scenario possible? Unlikely is my answer as you would have to sell short by at least 6 sen to break even.

Margin traders who trades on a day basis, paying RM 20.00 for a buy and sell deal?

Again possible. Those who sell will need to buy back at 2 sen difference.

I think these traders may have started the selling deluge and have re-couped by now. Assuming they sold at RM2. 96 and bought back at RM 2.89, they would have gained 5 sen per lot of 1000 units.

Then, the RM64,000 question.

Who is a likely seller that needs cash for some reason and will cash out, for reasons best known to him, after being given a super-rich valuation by the apa macam authorities?

Likely mystery seller that could sell below IPO?

Could it be Ananda?

If so, until he complete selling down his big chunk, Astro will keep on falling.........

At lunch close, Astro slumped to RM 2.89.

Indians will look at the counter and remorsefully squeal, Kalawoleh!