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Limited free float means big daily swings on relatively small volume. Also, if Gangfeng and others want to restore their pre-M&G positions they may have buy orders in with brokers which may take some time to fill. Bid has been dropped to make it easier/cheaper for them so possible but not certain but I do know that is what happens in this market.
LSE crashed earlier there was a lot of buying earlier
two small sells and a 10% rise LOL
When we got to 35p a lot dumped expecting it to drop to 25p a few buying back now as 30pish seems to be the bottom. Higher highs and higher lows it seems.
Gone yesterday but back today ! Is there some dump and pump going on here, why the volatility ?
--LoL !
MrC - point 1 was always enough for me not to invest in UKOG!
Dave - I am a bit embarrassed to admit I bought into SXX albeit at a sub 4p price however with UKOG the facts are :-
1) David Lenigas project ---- Red Flag
2) Constant Dillution
3) They keep talking about having/finding oil but it is always a bit of a dribble and not that viable
4) Why has none of the usual suspects over all of these years never prospected in the Weald before given what seems to be known geologically ?
Total over hyped basket case !
Apologies for discussing other shares on this great board...
Mrc, I've followed UKOG a while but never invested. The thing with it is, there is a 50% increase in it at any stage, but also just as likely to have a 50% drop at any stage. Just seems a bit too much of a lottery to me.
Not that any other AIM share isnt a bit of a lottery, just need to try and find the ones that look a bit less of a lottery (I'm currently only in BCN and AGL on aim)
I had a block of shares in SXX which I bought thinking I had fund the bottom..I sold them at a tiny loss to buy more of this when it dipped the other day, at the moment I am happy with that decision...I dont think either SXX or UKOG are ever going anywhere that will mean a return for the current PI's...
I sold 2k here yesterday so I could trade some in ROCK as this wasnt doing much atm. And then we have a 5% rise here today. Would you Adam and Eve it. Just a good job they're 10% up.