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Fund managers aren't buying for today or tomorrow though and they haven't made money by not knowing the market - they take a longer term view, consider the reasons why the share price is where it is, what the prospects are for the company and what is likely to change sentiment - so I wonder what that would - maybe a vaccine and start up of the flights again?
From what they're saying on Bloomberg, the market wants to hear specifics from the companies in respect of efficacy of the vaccine - once we know that I'm sure the shares that have been battered will start to take off - will that be before the US election though I wonder.
I get what you're saying, and there's lots of reasons to think the share price will go up. But equally as much risk, uncertainty and downward pressure. Just my opinion, but I think we're at fair market value. No US stimulus agreed, C19 rates increasing globally (particularly in US+UK) where BA operates. Don't get me wrong, I own IAG but this is pure speculation at the moment and pretty risky. There's an awful lot of confirmation bias on this board, not saying this is you, but I'm always hearing that it's market manipulation when a stock doesn't go the way someone thinks it will. Markets aren't always efficient particularly small/micro cap but I don't buy it here. I'd be glad to be wrong though, I thought after last weekend Astra Zenica efficacy news, this and some of my other stocks would be flying this week - pesky market makers.
Yes exactly right - but if you do a bit more research you will find its all to do with the orders that have been placed. Since the rights issue share price adjustment, there has been 5% of shares bought back by way of shorts closing, 3% of shares purchased by Marshall Wace who declared their interest about three weeks ago, significant buys being posted over the last few weeks with the last one being £36 million yesterday, and analysts all over the financial news channels saying its time to get into the beaten down stocks and yet the share price here is about 50% off its adjusted share price allowing for the rights issue - does that make any sense to you?
As per the definition of an iceberg order, they are used by large buyers or sellers so as not to tip off the market so if there are a number of big buyers in the market continually placing big orders, then until those are filled the share price will be kept in a narrow range as per the MM's remit. You are right, there is nothing in it for sellers - but for buyers at this price they are likely to do very well out of it over time so it's in the buyers interest to get shares as cheaply as they can.
Thanks, I've not heard that expression before. I don't buy it though. Looks like a mechanism for buyers/sellers to avoid tipping off the market by disguising their order to get a good price. Doesn't explain how or why the price of a liquid stock can or would be deliberately held down. There's nothing in it for sellers knowingly and collectively filing orders at a lower level than would be market rate.
Sorry - for some reason my response was headed Iceberg Orders - and once you've read up on them, if you don't believe that's what's been happening here, then tell me why there was a £36 million buy posted yesterday and yet the share price fell if its supposed to be purely supply and demand that sets the share price.
Treacle - how is a blue chip stock like this being held back? And by who? If there was massive demand pressure on a liquid stock, why/how would sellers, mm keep the price artificially low?
I hope that is the case - it's just so frustrating to watch but I think all the 2000 automated trades are the ones that are making up the bigger orders - only my suspicion though.
I thought the same, get the buys in before Friday
And nearly another £300 million bought in the last month alone tells you all you need to know. It's just blinking frustrating that the city boys are being looked after at the detriment of the smaller guys here - not sure how long the share price will be allowed to be held back for though - maybe all the big buyers want their trades to go through before the results come out.