Economy
Institutions covering their backsides?
John Hawkins
I suggest that the ASX should investigate why Gunns shares always rise during the last hour of trading with large buy orders being evident, they then fall the following morning. This propping of the share price over the last two days could be the result of the institutions covering their back-sides having lost at the low point of the market subsequent to the rights issue 30% of their invested capital. At under a dollar chaos in Gunns shares would have ensued. Read more, Comment here