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It was impossible to buy online with most providers in the last hour of trading, IG did have some stock but then moved in line to NT only, they wanted a largish premium for 100k+
The above suggests the market was fishing for shares at lower levels but few obliged and sold. I expect tomorrow will be a reasonable day therefore, share price strength is impressive, suggests to re-rate will continue.
Price drop was to fill huge orders..check the after hours trades enormous:)
still trying to fathom the market maker conspiracy JDAU, excess new shares arrived on the market, share price went down.
Always talk on here of share price being "walked down" to fill a big order, actually it was the opposite
ok jez and how did they manipulate the market to the disadvantage of the PI? I'm interested
MrTrotter - not sure in all honesty as certainly no expert and not sure if issue price is the same as the exercise price but I used this:
https://www.educba.com/dilution-formula/
Further, the formula for diluted share price can be expressed as a weighted average of a number of existing and new shares as shown below.
Diluted Share Price = (PT * NT + PN * NN) / (NT + NN)
where,
NT = Total Number of Existing Shares
NN = Total Number of New Shares
PT = Current price of existing shares
PN = Issue price of new shares
They owe us some seriously good assays after this.
It is most likely Sanderson Capital Partners selling the 5million as they took most of the placing in September which came with 1.85p warrants.
Someone mentioned earlier that Sanderson were increasing their holding in another stock so that probably explains why they are selling 5m worth of XTR shares.
I think the dilution is at the prevailing market price isn't it. So £375k rather than £90k, hence the bigger drop.
Surely even Cyber can appreciate the comedic timing in their post / the RNS dropping.
Certainly made me chuckle...
cyber just ate his hat Paddy Ashdown stylee..
Did the same calculation Steve
XTR was 735M@ 8p = 58.8
New Equity 5M @ 1.85p = 0.0925
740M mcap s/be 58.8925 or 7.9594p per share ?
Ha Ha...you just could not make it up
cyberiachas,
Well that MM conspiracy theory certainly held water this time.
They are on the right side of the new Mkt Cap/share price ratio( as of the 11th March), a head start on the market !
If most of the warrants were dumped on the market today (ie first available opportunity, which would make sense for a very nice profit) then it would undoubtedly have hit the price today, but v little difference longer term.
The exercise of 5million warrants explains the dip.
That's about £400k worth of shares being sold. Could be an overhang of stock for a few days depending on volume but doesn't mean much in the overall scheme of things
Not very many when you consider there are already 735m in issue. Its 0.7% extra shares. Worth about 375k at current share price and adds 90K to the company coffers. Shouldn't really affect the share price very much.
From 8.4p high down to 7.4p low. A lousy day, let's hope for better tomorrow.
New RNS of 5million warrants exercised at 1.85p. This is the reason of the drop I guess .
I'm not showing any trades on Quotestream after 15.47. I assume that is a technical problem. Anyone got the same issue?
7.67p to buy now
the market maker conspiracy theories are well overdone, here and on other boards
people just want to have someone to blame when the price goes against them
They just drop the price !
They are the Market Makers and they can do what they like !
Being quite new to investing, I am curious as to how MMs actually drop the price as you say, do they just sell a huge amount of shares to cause panic selling from others?
If so, couldn't they get screwed over if everyone just kept buying, so they have to buy in at a higher price?
MMs' deliberately dropped price to get hold of as many shares as they can. DON'T BE FOOLED. You need to rember that CB has invested money from his pocket.. He MUST be aware of this what is coming. LOAD UP IF YOU CAN.
GLA