- Good weekend for Palace. - SPHR price quote narrowing in that broker selling for 12.20 and now prepared buy at 11.52 and for 20,000 parcels. - DEL. FTO still upsets me particularly as I used to trade with Vitol. Thanks for all your recent input on the more technical issues, have you recently tried speaking to Rencken directly ? You probably more qualified than most here to ask pertinent questions and understand any answers.
Well we are in agreement re shareholdings and the value of Proxima down the road. I remember FTO a horseracing pal tipped me the stock around 8. I watched it forever. I think it hit 9 at some stage but by then I had lost interest. I know he had a gazillion shares. While Sphere is a tightly held stock it does not seem to react to any positive news, ie move up! But does the exact opposite and matters beyond the co control impact negatively. I don't know if this is typical of micro cap stocks or… Read More
Years a go I held shares in USM stock that had around about the 80% mark held by about 4 institutions..... And I think rugs was in FTO, along with me, up until last year when a major holder had about 38% of total issued.
My main issue with stocks like this is that there is very very little free float out there and as with SPHR recently...merely buying 50,000 shares had to be done after a phone around... MMs rarely want any position in companies like this and so will not hold any stock but… Read More
I'm not sure that having so many shares held so tightly is a good thing as a) it restricts a decent two way flow. b) limits dealing size c) prevents holders getting out should a panic occur in the markets. That of course might be the case with many stocks but illiquid AIM ones?.....well you can guess!
However having the rump of the outstanding held by iis provide some security as they "tend" to be committed long termers and won't flip willy nilly. They might also be holding as… Read More
The sphere presentation updates the top 15 holdings and it makes interesting reading.
Woodford has now gone to 29.99% and all other institutional investors have not changed in the last 6 months apart from Redmayne Bentley who clearly bought low, have taken their money and moved out. In fact UBS are increasing.
So, the top 15 institutions hold 81.9%.
As far as I can work out from other sources PI's own another 8.5% through brokers such as TD, HL, Barclays etc.
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