I was a shareholder during the boring days when the price was dormant at 7p and planned to stay invested because of the MXCP connection. I bought more at 8.2 and then at 10.4 so, although the RNS was a bit of a surprise, I do not think it has any bearing on my reason for investing in the first place and so I am still a holder at 8.50 as I was at 7. It would be good if we have found a new base in which case I am better off than I was and just a bit frustrated that the reason for the sudden rise was not on this occasion the developing business and the new contracts. Patience will be rewarded and I hope the next time the price begins to rise it will be sustainable and controlled. Meanwhile I hope 8.5 holds!
I see there was no "Late Trade" today suggesting the broker is no longer pushing this to his/her advisory account clients. Perhaps this will now find a level at which it can settle down. Amazing how a broker recommending a small number of people to buy an AIM share can cause such a spike. Now we can understand Scally's "No Reason" RNS. Well done to those who got in and out at the right times.
Don't get too excited about that late trade, the same thing happened yesterday. Those with a broker's advisory account will have been recommended to buy PINN and the figure is the average of all the buys made by the broker (probably this morning when the SP was high).. Most will now wish hat they did hadn't listened to their broker. Expect a further decline tomorrow.
Brokers recommending clients with advisory accounts to buy can easily cause a spike in a SP, hence the "No Reason" RNS. Now may be the time to go short.
So with vastly improved figures in the interims and reduced losses and more cash in the kitty via a recent placing.And with a new board appointment a new advisor and 2 new instis coming onto the share register at the placing to support the co and with and new web site and some new big contracts inc O2 and a statement from the Chairman that things are really starting to look up and that they are even going to start making new acquisitions with ALL OF THAT Scallan states that the SP is worth less than when it was nearly BUST!!
I recall a very similar RNS from COMS last year, those who sold after seeing it were the wise ones as the SP has fallen ever since. I'm not saying the same will happen here but it you have made a good profit then at very least top slice and bank some of those profits.
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.