Being optimistic, maybe there is a big order in so the middle men are setting off the stops losses to fill it. Not been watching so I wonder if the spread has been varying throughout the day, that will tickle the stop losses..
what I cant quite understand is why people are selling (or setting stops) this close to the rights price....they would have been better to take the cash at the time and not the shares. I expected some volatility but never expected to get so close to the RI price
So with the latest RNS today up-dating us on the company, with Gross proceeds of £353 million have now been received by the Company in connection with the Placing and the Rights Issue, and further to the announcement made by the Company on 17 March 2014, gross proceeds of £500 million from the offering of (i) £325 million 6.50% senior secured notes due 2021 and (ii) £175 million senior secured floating rate notes due 2020 at 3-month GBP LIBOR plus 5.00%, PFD now looks set for a steady rise in the sp and a safe future until 2020. Should also see them back into the ftse 250 very soon.
Hi, I guess many including myself expected this to stabilize at about the 70p-80p mark after the rights issue and I think it will still do that after the a few weeks of settling down. This is fairly normal after any rights issue, remember there will be lots of people / institutions taking advantage of a profit and selling their stock for a fast return. I still see this at about the 80p-£1 mark after 6 months but who knows what it will be.
I'm no expert at all, however I have been watching for a good buy in point for PFD.
My fear here is that with the likes of Lidl and Aldi eating into the market share of the more conventional supermarkets I can't really see how PFD can grow unless they get a lot of their products stocked in them.
It's only my opinion, but I am looking at how they can drive their distribution channels further and would seem the obvious choice to me.
It is very confusing how they put it and I would not b surprised that they have ticked a wrong box. I am personally taking it as they have unloaded their shares and have sold all or near enough all. This would be part of the reason for PFD to drop further than most people expected it to. On the plus side, they are gone and the sp can now rise again as there is no longer a seller. I personally give my rubber stamp of approval for a "BUY" on this share now and would expect 100% return in the shorter term. I'm only in atm on a small spread bet but will buy in if I can juggle a few shares about before it rises too much.
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