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Mohh - a lot changes in a day as you have just noted - fallen a long way in a month - going back there once funding RNS announced, when you compare the two time scales the daily rerate looks more sensible than the drop imo.
Trying to add on the dip - NT - price drop is the MM's covering their short positions....
The table just in case of a ticket
No shares left, BUY going to NT now.
This SP is too cheap, 20p tomorrow.
Now forced seller is out this should move quickly back over 10p. Took a position this morning
£30k buy delayed
Possibly tomorrow and next few days
Moving nicely today ....
Booom 4.50 paid
It’s literally that simple
MCAP dropped below II threshold so they had to sell. That’s why it’s tanked. Back to 20 in no time.
This was posted on twitter :
https://twitter.com/blacgold76/status/1181190438444830720/photo/1
#BRY looking rip for a change in trend. Daily tf. Stoch well oversold and has just touched the lower trend line.
https://twitter.com/blacgold76/status/1181190438444830720
Looks about to explode
I wonder who the seller is?
13:13
07/10
Sell 2,825,746 2.91p £82,116.18
If this is going to bounce it will bounce very soon. Limits a lot firmer now and can sell
In big quantities. Could well put on a couple of 100% from this price
Large sell. Submarket price at volume. 2 pence.
04-Oct-19 15:50:23 2.00 3,958,601 Sell* 79.17k
(Shows on list after the one at 1142am, 7/10)
Reads to me that a competitor has jumped considerably ahead and they now realise that new wins are unlikely for some time to come. This translates to a slow decline in revenues as clients move way coupled with a need to invest considerably in new development. Very badly managed, if true, by the previous management a very bad news for existing shareholders.
Agreed, looks like we will have to salvage what we can.
How can a responsible BOD oversee such a shambles?
I don’t think the executive team and board of directors are up for the gig if their response to the share price falling 80% is to seek £15 million in new equity. The 80% decline hardly gives anyone confidence that giving this crowd another £15 million equity will fix this company. Watch for management buyout or takeover but don’t get your hopes up regarding price.
To say this is disappointing is rather an understatement. All was apparently fine at the AGM
although in hindsight as the CEO was not present could be that was a sign.
Maybe at this sp the Directors could be "encouraged" to buy --at least this would show confidence.
There is no way at present mcap of raising £15m via the market. Major dilution in prospect.
Pretty disappointing for BRY investors that the company needs emergency funding to get through the next couple of months, while acknowledging they want another £15 million to expand their products. No investor will touch this company until this recap is done and in all likelihood shareholders will lose most of the value with someone else acquiring the remaining business for a pittance.
The worst is yet to come. Publicly available information show that basic debts are increasing to a critical point. Last RNS: Funding Update. Who on earth will provide increased working capital to a dying business with incompetent top management?
Brady stock falls to all time low, whole 70% lower since August. It seems that business has declined to the point that it cannot honor its debts, so filing for bankruptcy becomes necessary?