Let's view the chart:
He bought the shares via an off-market deal at 6 sen each on the 3rd of August. He only had to fork out about RM600,000 to carry out this operation. Which is in my opinion, a paltry sum to him. Rasa-rasanya duit kopi je untuk dia ni. Interestingly, the stock nearly doubled on huge volume on the 2nd of August. Perhaps parties who got wind of this deal bought ahead. Maybe.
Anyways, the next 2 days saw the stock trade between a range of 7.5 sen sen and 11.5 sen. Assuming that he sold all his shares at an average price of 9.5-10 sen, he probably made about RM350,000-RM400,000 on this deal. Not bad for two days worth of work + perhaps another few days of planning.
The question that has been going on in my mind is why would he do such things though? RM350,000-RM400,000 is such a small amount for a guy of his stature.
Perhaps it was because of the large fall in the FBMKLCI on the 5th of August. I suspect that this stock can be goreng-ed further, but probably abandoned his plans when the market crashed.
Or... something else. The possibilities are endless. I may never know unless I am on the inside. It is those who are on the "inside" that make big bucks. Small retail players like us have to work our punggungs off.
Quote Gordon Gekko: "If you're not on the inside, you're outside"
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