Anyone who acted quickly to sell their Havelock shares and bid in the auction will almost certainly increase their net shares, courtesy of Seb's slippage.
Thanks for the explanation. So the arb'ing opportunity hinges/hinged on:
- reacting quickly to the news of the lowered price point
- believing it's worth holding shares in this price range
- seeing the auction fail to reach the exchange price when you sold (I believe it was around 0.45)
I see the price on Havelock is now down to 0.335. To me it's getting harder to believe that Seb's auction isn't affecting the market price, but I don't have a dog in the fight. Sure, it might subsequently go back to 30% APR or whatever *after* the auction, but during? The volume is too large.
If the 30% APR rule holds in the long run where does the share price go in February when the difficulty is 3-4 billion and AM is still on 130nm tech? That might be the time to buy.