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As I mentioned before I think there will be movement up and down here from shorting. The sell off came out of the blue to many investors and it was always going to stir things up for a while. I'd only raise an eyebrow if it dropped lower than the lowest point of the last few weeks. If this stays above 60p then I'd be reasonably until the next Rns.
With regards to volume of trades , it's always worth bearing in mind that there are only just under 14.5m shares in total.
Since Nov 11th (inc today) there have been over 2.2m shares traded , which is over 15% of the total number of shares.
That's following the 3 very large volume days (Nov 6- 8).
Looks like there are a number of PIs who managed to get some of HC's shares at a very low price and are happy to cash them in with a pretty good profit.
I think it's puzzling a few of us Wanderer.
Someone is still trying to offload obviously. Maybe, a few people bought during the heavy drop, hoping for a quick bounce.
But the bounce didn't quite materialise, so they're just feeding them into the market for whatever they can get?
This is only a theory of mine. Probably wrong, but I can't think of any other good reasons for the continuing sells.
Yes, I understand he stepped down on the 7th, thats why I said from the 8th onwards meaning that its been relatively quiet ever since. Do you have any thoughts on why the SP is continuing to languish in the low £0.60s?
For info:
He actually stepped down on the 7th Nov.
There was a volume of over 8m shares traded on the 7th.
There were over 3.5m shares traded on Nov 6th and over 1.5m shares traded on Nov 8th.
I dont know if this has been posted before but I thought it was an interesting read. So who does own IDP shares other than small PIs?
https://simplywall.st/stocks/gb/household/lse-idp/innovaderma-shares/news/have-insiders-been-selling-innovaderma-plc-lonidp-shares-this-year/
Chaudhry sold a million at £1.50p per share 9 - 12 Months ago and then released the balance of 4.1 million at 52.4p when he stepped down. I reckon only about 4 million shares have been traded since he stepped down (8th Nov onwards) so there must be still around 2 million to offload which is dragging down the price.