Wagering giant Tabcorp is trading at its lowest level in more than a decade. So what on earth could have induced its chairman to sell at what appears to be the bottom, despite a stated intention to buy more shares in the near future?
Earlier this month, Paula Dwyer dumped 120,834 shares — about half her holdings — at $2.53 a pop, but immediately purchased back a third of what she'd divested — 45,835 shares at $2.51 each — through another vehicle.
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Myriam Robin is a senior writer based in the Melbourne newsroom. She has previously been a Rear Window columnist and editor, and before that reported on financial markets and media. Connect with Myriam on Twitter. Email Myriam at myriam.robin@afr.com
