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https://uk.finance.yahoo.com/news/deliveroo-founder-shu-sells-47m-125818918.html
Deliveroo CEO sells £47m of shares to pay a tax bill. He is also rewarded with new shares worth £62.5m, "under the terms of his share agreement"
MCap - about £4.6 bn
The one thing the company could do, is simply put out an RNS, saying there is no reason for the share price fall. It might not stop the slide, because when a share is being shorted, which the 100 also trades suggest, they will take it down, when there is no no elected news. The question is when is the bottom ???
I was referring to the ADR units in the post immediately below.
BTW, the entire ad tech sector as well as the entire US markets got pounded today, especially the NASDAQ.
Perhaps today was nothing more than a move in sympathy with the rest of the market. But wait, including after hours, TRMR is now down over 9% today, while the NASDAQ was down only 1.83%. (We've traded down to $13.88 after hours. Trades in blocks of 100 shares at a time are suspiciously bringing this down further AH.)
Back to my short theory.
Radium,
I've no idea why or by whom this is being shorted, except for the probability that someone or some group are making Money off their actions. I know, that's stating the obvious.
Why are they shorting this one without some sort of information dissemination, true or false (à la Ben Edelman)? Probably because they can short it without so doing. This is easy to short; the number of ADRs outstanding are very limited, and our daily volume is minuscule. The ADR follows the price of the common pretty closely during London's trading hours. After the close in London, it usually begins it's decline.
I think they're shorting this one because they can. And they can do so easily. At least that's my theory...but I am no expert on this matter, that we know for sure.
It’s normally the case that a short attack is preceded by misinformation, innuendo, criticism and/or damaging allegations. So, other than the daily efforts of Canute and some of his companions on this BB, from the perspective of the standard short attack, none of the above appears to have been placed in the public domain prior to the start of Tremors short selling. So, I’m left asking myself, what is the actual nature of this attack? Who is behind it? What is the purpose of it and what is the end game? Whereas it’s incumbent on senior managements to determine the answers to the above and provide an appropriate defence, it’s unlikely they will ever divulge their findings and tactics to shareholders. I do wish I had the answers though. Most of us here, are very much in the dark if we are honest.
Now down to $14.10 on the ADR. And still management do sod all.
The ADRs were pounded down to $14.32.
This equates to the common shares trading at 539p.
It doesn't help that the GBP is lower vs USD today, but that's not a huge factor in what's happening to the ADRs thanks to the shorts.