iPredict Traders Quick On Shearer Call

iPredict Traders Quick On Shearer Call

Wellington – iPredict trading proved as quick as a newsflash in covering today’s Labour leadership contest.

The stock measuring the probability of David Shearer winning the leadership race rose from around an 80 percent probability at 8 am this morning, climbing to 90 percent as Labour MPs began to vote.

The first public indication that Shearer was leader and Grant Robertson his deputy was when the pair were the first to walk out of the meeting at around 11.06am.

At that point traders pushed up the probability to above 99 percent with more than 8000 Shearer stocks changing hands this morning.

There was a similar but slightly slower pattern in in the stock measuring Robertson's chances.

It appears that traders had been selling off Cunliffe’s stocks all morning with a spike in activity shortly after 11am.



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