No announcements, no new appointments, nothing on VVOP, no new products, no new strategy, no director buying. My guess is that they have no good news to tell and are happy for the share price to fall. When it gets to a certain point, they will announce a huge option package for the directors at a very low exercise price, or the founder will try and buy back the company. If the board can't see value in the company, the shares will fall further until they do.
Small investor transactions have no real impact on share prices, even on most AIM stocks. There are rumours, but there are always rumours both ways for most stocks - ultimately the MMs have to make a margin and not lose their shirts. AIM is a dirty place and most PIs end up getting shafted because they get caught up in the greed/fear cycle and pay the massive spreads. But ultimately share price performance is about he quality of the management and their strategy. Being able to spot that is the only way of being consistently profitable (look at Buffett). Unfortunately, I see neither in this company right now.
of course if the MMs have a large buy or sell order they want to work through the system over several days/weeks. That makes a big difference.
But otherwise as a general rule Morley is right. Any buying pressure and the stock should rise in value. Any selling and it will likely fall quicker. The MMs (in theory) should know no more than we do about a stock.
The publication of a RNS can change the situation entirely for obvious reasons.
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