Then again, Big Boy transferred another 25,342,447 SM shares valued at around 22.3 Billion to his brokerage account

On September 18, 2020, Henry “Big Boy” Sy Jr. transferred another 25,342,447 SM Investments Corporation (SM) shares from direct holdings to his brokerage account.  That block of shares will be valued at around 22.3 Billion Pesos.

Previously, he transferred a block of 35,367,989 SM shares from direct holdings to his brokerage account. Of that block, 30,000,000 SM shares were sold or transferred to a company where he is a controlling stockholder.  The remainder were dumped into the market sending SM briefly to a low of 810 a share.

There is no public disclosure as to why Big Boy had liquidated a portion of his SM holdings but it was reported in a Bloomberg Markets article that rich Asians are hoarding cash for post-virus deals. It further reported that the ultra-high-net-worth believe there will be a good opportunity in the marketplace once the pandemic impacts have flown through the economy.  Big Boy has interest in cement.

It looks more likely that Big Boy is liquidating further his SM holdings. So far he has liquidated 1,650,000 SM shares from September 16 to 23, 2020 raising around 1.5 Billion Pesos.

This is worth following because at the time Big Boy was dumping SM shares into the market SM shares went to a low of 810 after that when it appears that he was done selling, SM shares soared to a high of 937 a share.  That would be a 15.7% gain in just a matter of a few days.  This time it will not be different, SM shares at the height of Big Boy’s selling could go to a low of 800s a share then it could bounce back to the 930s. So far the lowest price that Big Boy sold SM shares was at 872.

Disclaimer and Disclosure: This is an independent analysis for discussion purposes with the aim of giving stock traders and investors an independent view point. Accuretti Systems Inc. in the course of day to day trading may have own, or is considering buying or disposing, the shares of the companies mentioned in this commentary.

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