Stuart Theobald, Journalist and Chairman of Intellidex talks about how the Oakbay share price is responding to the Gupta news, if at all.
When you look at the amount of trade that is happening in the share it is minuscule. So today, there was a sum total of R13 000 traded in the share, and that is kind of typical. There were only seven trades, and each trade is a couple of hundred shares. So very small trade. And when you look at who the main shareholders of the company are, pretty much all shares are held by long term shareholders, 80% of it is held by Oakbay Investments which is a vehicle of the Gupta family. So there is very little free float.
And it does raise the the question as to why the JSE would have allowed the listing of a company with so little trade in its share.— Stuart Theobald, Journalist and Chairman of Intellidex
It would be interesting to find out where these 7000 people work in these companies...at last count there were about 1000...if there are that many people working there they not getting paid very much.— Stuart Theobald, Journalist and Chairman of Intellidex
This article first appeared on 702 : Has the Guptas move effected the Oakbay share price?