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Ooops...'building a stake'..
Only cows can build the other..predictive once more makes a fool of me!
Ps Roley.. the free float isn't that small, depends if you class large holders as not being part of it
Cheers Nick..
Well, this is my my largest holding by far, so I'm expecting good things over the next few months.
I was happily building a steak circa 3.2p and hoping it's take down there for a while, when it took off and I got sucked into buying quite a few near 6p, so a tad disappointed about that -especially to see her fall back down..
'Boring'? .. well in this day and age of expectation and immediate gratification it doesn't seem to have captured the imagination yet.. although that's no bad thing as long as it gains traction at some point..
The weekly chart is maybe indicativ of where this is going on peaks and troughs - all looks quite obvious with hindsight, always does..
I don't find the share boring, but I can see how people are finding it hard to value. But having said that , as you stated, there's so many other indirect investment companies out there blowing hot air , with much larger MCs, that it's disappointing not to be attracting more attention
Very thin market. Small free float so suggests that any real buying or selling will move the price more than you would expect.
Does seem to be some contrived crosses - such as the recent 600,000, 350,000 and 500,000 with small spreads so the MM will put it through but taking a minimal fee.
Any decent buying will push this back to 6p as the asset value continues to rise.
I hope we aren't seen as boring - the SVV portfolio is extremely well placed for great performance regardless of the pandemic. I think we need to see an exciting direct investment, I'm assuming Chris Akers will have some contacts that can help us find deals which will excite the market.
I can't see my transaction yet. It was a limit order and they seem to show up later - often a day (or even two) later. I paid 4.4p. I strongly suspect the 100k at 4.39p at lunchtime was a buy - I had a quote around then and was offered 4.39p. It shows as a sell because the spread was 4.3 to 4.5 at the time, but it moved soon after to 4.2 to 4.4p.
I do have way too many of these for my own good but that's a problem for another day!
Hi Nick..
Personally I don't like the ethos of shorting, although I accept it's part of the market - unless it's coordinated.
You never know with short-term shorts; maybe someone is armed with the information to do it.
Although I do agree with your wider synopsis that, while not completely risk-free, this has such a spread of talent and it's folio that the base feels quite stable.
In this day and age, atm at least, PIRI's "stability" may be seen as synonymous with 'boring' which doesn't attract the herd.
I do think this is a cracker for the medium/ long term, with a few surprises in store along the way.
By the way , Nick, do you mind me asking (and do you mind answering!? ;o) which were your trades, has everything appeared to be a sell today. (not that means much)
Surely not a short? I never get people shorting something like this. It's an investment company well backed by interesting tech assets that are well placed to prosper under covid. Moreover it's run on a shoestring, so the cash pile means it can run for years. Yes an investment or two might not work and the share price might drift down a bit if people get bored, but a random announcement about setting up a battery investment or something and it could soar, and as a shorter you're screwed. There are plenty of businesses on aim trading on a lot of hope value, which have debts, that could easily fail. Surely they're the ones you can short - where there's an imminent mortal threat, allowing for a really strong bear case in the short term. That just doesn't exist here.
Anyway - have taken advantage and added more today. GLA!
Is this being shorted, or are we seeing bigger holders trading this?
Maybe there's another answer - a transfer of shares going on - but the volumes and rounded numbers suggest big holders rather than your average PI