Q: Steep decline today. Any reason? Any concerns?
Thanks Dave
Thanks Dave
5i Research Answer:
Orion Mine Finance announced it had sold 47.5M shares of CS in a private transaction in a block trade. This was not really 'news' as this was announced a plan as a week ago, but the actual sale took place yesterday. But some investors were likely worried that a big shareholder was exiting. No real concerns here other than the usual cyclial risks. The market is taking a bit of a breather this week on various events, but CS still looks good long term.