I did say what would happen here. Duckworth's punitive buys trying to install confidence after decimating the share holders is disgusting. He's saying yes, we completely shafted you but now that all the boys have the cheap stock lets get behind them.
His purchase of these 150,000 shares at least caused a temporary rise in the SP enabling some to sell at a higher price. However it's very unlikely that he will keep doing this if the southerly trend continues toward the placing price.
3 weeks ago when the SP was 9p I asked the following question:
Does anyone know of any AIM Technology Shares where following the announcement of a placing the SP has remained at more than double the placing price in the weeks and months that followed?
No answers were received therefore if PINN can avoid going any lower, it will certainly be a unique AIM share.
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