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If he’s bought 1.6m shares, assuming he’s paid between 3 and 4p for them. So that’s around £500k he’s sunk into QFI. I’d expect he’ll be selling a good chunk if he can get 5.5-6p for them.
Would like to think he’d leave some in for the longer term if the prospects are still looking as rosey as they are.
Trouble is, most of his followers will sell as soon as he announces he’s sold some, even if it’s just a proportion of his holding.
Don't pay attention to him being an analyst. Much preferred him to have run the pan European desk at Goldman's.
Indigo is spot by the way. Also look at McNulty portfolio. He has us down on his short term trade book which according to him he holds positions for a month or less! So guess what!
So also that works on the opposite side as well. He sells, then the rest of his followers sell. That brings in volatility and traders etc. I have no problem with traders making money but as an investor I am hoping the company deliver the news, value and rewards that commercial contracts will give us in the future. At least we hopefully will never have to worry about negative conversations about funding etc hopefully all future conversations will be positive if the company can deliver progress.
Shares are driven by momentum also not always necessarily news driven. Myles brings it to a wider audience and as a former analyst brings value imo.
It’s the company that will bring the value if I am not mistaken. Will they not sign the value add commercial deals. As far as I am aware he is just an investor like the rest of us. If people follow him then that is their choice, will they blame him if they lose money as well, or will they blame themselves. Until deals and income are complete this still has a risk factor. We are all here hopefully as investors to make money, but as far as I am aware he has nothing to do with the company and he is just like us.
Indigo doesn't think Myles brings much value?
Could just be him doing all the buying! ;-)
Probably explains the buying this morning as his followers jump aboard.
Clearly very confident with a 16.5m holding....
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"Up to 16.5m here now, S! #QFI is going to be a monster."
https://twitter.com/MylesMcNulty/status/1384985493679575043