I agree I don’t see any significant movement until the RNS on Friday and that will test the market. I’m still of the opinion they wouldn’t have taken the step of announcing they were going to issue the results on Friday if a) they didn’t want the sp to slip too much and b) they weren’t happy with the results. I still see this as a hold and possibly a weak buy sub 260 for steady but limited growth with excellent dividends, but as always DYOR.
Agreed, but note these are not MMs. Strong support nonetheless at the 256p level. This 100,000 position has sat there since market open so it is unlikely to be filled. We won't see a price rise while so many small investor trades are listed. These need to be flushed through. We are very safe holding INFI. There won't be a drop but no rise either. Not until Friday's results.
Regarding your comment about MMs, I should point out the the current best Buy/Ask prices (258.00 & 259.50) are not MM prices at all. They are small investors selling their holdings. Lots of these auto trades are being processed. The MMs prices are 256.00 & 261.00. Also the MMs are offering small price improvements to brokers. If they didn't do this they wouldn't make any money, as the auto trades of the small investors are cheaper. Yes, that's right. The small investors are selling too cheap! Stupid really!
I have access to a live Level 2 screen and although I'm seeing is strong support at 258p, on the Ask there's a long list of small positions. These are individual IPO investors lining up to sell.
Daft really. Maybe they need the money before Xmas. Maybe then they should never have invested. They are merely punters who had hoped for a RMG type price surge. That hasn't happened, so they sell up and move on to the next share.
Company results RNS is due this Friday. Also, this company pays a good divi. I don't expect the share price to recover until Friday's results and/or until these small punters are flushed out.
Today's announcement to cancel the next major investment in off shore energy brings the danger of running out of power ever closer. Given the last three government's inability to develop a strategy and some very clever accountants the UK will need any power it can get. INFI looks a nice bet at the moment
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