Originally Posted by
fivenine
What triggered PS to buy $100k of VAH shares 2 weeks after VAH reported S&P’s COVID19 downgrade and 5 weeks before VA was put into administration?
What DD did PS do before he accepted his position at the ‘doomed’ VA and what triggered him to by $100k worth of VAH shares during COVID19 and just weeks before ‘voluntary’ administration?
Anyone's guess but the purchase was likely more related to the lifting of the blackout period on shares purchases subsequent to the release of the half-year results. He made a similar size purchase after the blackout period after announcing the full year results in 2019.
He might have been backing himself to persuade the government to hand over $1.4 billion. I seem to recall that he and Keith Neate assumed control of the Velocity board in March. Some other convoluted play going on there too perhaps.