The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Well, this should all just be short term.......
Hopefully.
Thankyou for the link. I had not tried to google it, however:
I find the link you refer to, 7m shares, undisclosed seller.
https://www.bloomberg.com/press-releases/2020-05-11/polymetal-holder-to-sell-7m-shares-in-company
I also find a Reuters UK article dated 18th Sept, which says 4% shares / 19 million sold. Sold by the largest shareholder ICT. (Alxander Nesis).
It also says (paraphrasing for copyright LOL) that ICT are still the largest shareholder at 24% and only sold due to debt obligations, and Polymetal is still a great investment. (but they would say that).
https://uk.reuters.com/article/russia-polymetal/update-1-polymetals-biggest-shareholder-raises-443-mln-from-4-stake-sale-idUKL8N2GF2K0
This is causing me a bit of a headache as over 50% of portfolio is POLY. I was sat on nice profit before Friday. Trying to work out how much more flooded the market will be, whether I need to sell on Monday and buy back. I now think that it was 19m shares sold, and possibly, the press release to Bloomberg was only part of the sale?. Anyhow, pasting all of the after hours sales in to Excel, and summing the total - as I believe they are all buys - adds up to 12m shares. I am hoping the other 7 got bought during the day on Friday. I therefore hope that this was a once in a blue moon event, and there cant be many more shares left from the sale. Hope the price should start to go north. Obviously some of the buys at under £18 could get sold as we start to rise, but my worry was re-visiting £15 odd and wiping out my profit. I think this is unlikely now as long as the selling stops. I guess were not going to see above £19 soon, but id settle for above £18 toward the end of the week.
Feel free to disagree, interested in opinions.
All guess work by a layperson, not financial advice.
On Bloomberg. If you google Polymetal share sales the link comes up. I would copy and paste it except for copyright warning against doing that on the Bloomberg site.
Batterseafish, where did you see this information? thanks
Correction it was a sale of 1% or 7 000 0000 shares at £15.95
Note that the investor selling about 3% was at a price of £16.95. Maybe some of these are finding their way back to the market? So a bit of market indigestion now which will surely pass?
Then perhaps also there are funding fears in relation to the div and capex for the new silver project. Short term issues probably. I bought the dip today but perhaps patience would have been better.
darton, lol yeah so much for insider information lol\
I hope there isn't any bad news round he corner but this is an excellent PM share. I hope to buy more if it drops to 15 or 16..
1758 was previous high which may turn out support. If that is gone then 1700
Great timing from the director who sold yesterday at £19.76. How very fortunate for him.
SP being punished today, close to a 2 month low. 2 months ago gold prices were $100/oz less...