Friday was a very weird day in #SPUT land.
Thursday rebalance pushed it way over NAV and Friday traded as if the ATM didn't exist.
Typically there are 2 types of bullish days:
1. Open at large premium and sell back to NAV
2. Push higher and get pegged at a price level
#uranium
Thursday rebalance pushed it way over NAV and Friday traded as if the ATM didn't exist.
Typically there are 2 types of bullish days:
1. Open at large premium and sell back to NAV
2. Push higher and get pegged at a price level
#uranium
Both 1 and 2 would suggest a decent two way market.
Either there are enough sellers to fade the move. Or, there are enough sellers that Sprott can eventually fill 100% of the offer volume at a given price and peg it there for a few hours.
We did neither of those.
Either there are enough sellers to fade the move. Or, there are enough sellers that Sprott can eventually fill 100% of the offer volume at a given price and peg it there for a few hours.
We did neither of those.
Instead we pushed higher and ended up raising a lot of money given the volume.
The only explanation I have is that there simply weren't any sellers, other than the ATM.
Sprott couldn't peg the price as they can only be 60% of the volume, so there were no sellers taking profits.
The only explanation I have is that there simply weren't any sellers, other than the ATM.
Sprott couldn't peg the price as they can only be 60% of the volume, so there were no sellers taking profits.
I can't recall this happening, other than the times the ATM was turned off while they updated the prospectus.
Just something to watch going forward as price action continuing in this manner would be EXTRAORDINARILY bullish.
Just something to watch going forward as price action continuing in this manner would be EXTRAORDINARILY bullish.
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