Late yesterday afternoon saw Goldman Sachs handle the $48m sale of shares for co-founder Andrew Bassett – the stock was sold just below $32 illustrating healthy appetite even at current lofty levels. Importantly this only represented about 10% of his stock and its was used to seed the new SEEK Growth Fund, nothing sinister here in our opinion.
A few months ago MM wrote “We are not a big fan of SEK around todays $32 level but we are bullish equities into Christmas hence another pop towards $35 wouldn’t surprise – if I was to use stockbroker language I would call it a hold!” – this still feels on point.
MM remains neutral around $33
Add To Hit List
