There appears to be a significant amount of underlying support. I have seen (and we have heard of) a number of large trades over the past few days, many of which fit the criteria of a sale. The laws of supply and demand are not always true when looking at any market in the short term, as price manipulation is regrettably possible in any market, however the fact that the price is rising whilst being sold into suggests that there is probably more to this than meets the eye. Fundamentally, the business case for this appears solid, and reinforced by the fact that some well respected investors have very significant holdings. Directors having a large shareholding is one thing, however if they take a lot out by way of their remuneration and expenses, the original capital investment becomes secondary. Although in a privileged position, I am pleased that Jim Mellon appears to be taking a most admirable position and representing the shareholders without taking vast sums out of the liquid assets. Looking at last year's report, he was paid £38k in salary and fees. I appreciate that his average is somewhat lower than most, but I am sure that he will be looking to make a tidy sum on his capital investment yet.
2 blues 2 days... Oh yes it's not oil!
I'm with Matt on this, it's just a correction. We saw a breakout recently back into the 7's and a new trading range was established. It was however swiftly pulled back down to the low 6's by a frequent block seller. After some digging I was able to establish who the seller was and I know him well, he is now 100% out and for no reason other than needing the funds to place elsewhere, this is why the frequent block sells have disappeared over the last couple of trading days and we've seen more blue progress. As far as news is concerned though... I believe it is imminent although you rightly state that word is used far too much but usually complete speculation without reasoning, here we have the RNS's confirming they hope to announce licenses by the end of 2014, considering we're now in January and they've not been announced as yet I'd consider it to be an imminent occurrence.
Dunno, just being traded I think. Volume would be much higher were it a leak IMHO. Licences supposedly imminent I guess...... Though that word is used loosely all over aim lol
RE : Blue
I am also assuming some positive news on its way, and the most obvious conclusion would be another marketing partner / partners.
I guess something is brewing, must be licences :-)
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.