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Just be a bit weary, this is an extremely Leakey ship when it comes to info, shareholders seem to be the last to know anything so there could be some imminent news on the other hand Market makers also generate some excitement enticing new punters onboard to off load their positions. Until the board actively start buying I'm sticking with the later probability.
For the first time in many days I am actually getting an offer to sell all my holdings, when this was NT whenever I tried. Interesting to see some chunky buys as well since yesterday. Let's hope this is finally a precursor to some genuine good news for us long suffering shareholders.
I am just hoping some genuine transformative news lands in the next few weeks. Just topped up a small amount and further lowered my average as can easily do a 2-3x from these levels and still be valued at £20-30 million only. While nothing is guaranteed it is so oversold in my view that this presents a good opportunity from purely a technical trading perspective.
An opportunity for others though perhaps.
Frustration, impatience, sick of seeing it in their portfolio etc.
Some serious dumping going on this morning. At nearly cash value can't figure out why someone wants to get out.
Yes true, and the MM's don't necessarily need to make a profit on every trade that fills another trade to make a profit overall, e.g. they could have got another 800k from multiple sells around 3.2p and still averaged 3.1p.
The SP is up 6+ % this morning so it does not seem to tally with the 5 million (amounts to nearly 2% of total shares) trade being a sell. The SP should be well down into the 2s if it was a sell…..
For example, if you look back to 24th March (1st trade of the day) there was a 0.8 million shares sell which went thru at 3p which was a 0.3p discount to the final trade Bid price (3.3p) from the previous day 23rd March.
I suspect these 0.8 million shares sold at 3p formed a part of the MMs stock holding for doing the 5 million bought at 3.2p.
Anyway let’s see if a TR-1 drops shortly to fully clarify.
The trade was flagged on the 0QLN board; I doubt it was a buy as it would mean the MM are closing out a position at a great loss as can be seen on the trade history shown on pumped or dumped.
Still, this company is valued pretty close to the cash it seems to me to have on hand.
https://bit.ly/3uyKb7L+
[Bitly links with a "+" take you to Bitly where you can see the underlying link]
£10.3m cash as at end September 21, minus £1.5m costs for the half year leaves £8.8m as of end March 22.
With 275M shares in issue, that is approx 3.2p/share cash.
Plenty of buys showing up this morning (Kight back again for more ?)…….The very big 5 million trade is showing as a sell but I suspect it’s a buy that has been worked by MMs during the past week. TR-1 awaited.
I think we are still trading at a small may be £2 odd million premium to cash rather than a discount, given we had about £10m of cash at Sept 21. I think burn rate may be £2-3m so slightly higher than the £1.5m over 6 months based on the last set of half yearly accounts given all the clinical preparation work done. All a guess though until the end March accounts are published.
Now at a 20% discount to cash you have to wonder just how much lower it can go. In theory we should be starting multiple clinical trials in the next few months although the radio silence from the company doesn’t exactly inspire much confidence.
The only punt might be from a technical bounce from an oversold position. News wise I have given up and there is zero market sentiment towards the company. Still waiting for the directors to buy into the company.
but getting bigger every day
what near term newsflow is there to justify a punt?
Any guesses on what the cash value might be? c£7m is my guess, so perhaps we have £3m of EV in the current SP.
Sadly AIM stocks with no revenues are fully sentiment driven which at the moment seems very weak especially towards the small cap pharma research sector. The sentiment (read money) will return someday but no can predict when the tide might change.
It's all about timing and for holders like me who got the timing wrong no option but to ride it out and hope that either (a) my average is still low enough for it to be reached and exceeded someday purely from the sentiment change or (b) some genuine transformational news is released which genuinely re rates the SP or (c) sell and move on immediately.
My guess is that the pain might continue for a little more time, although I am hoping being nearly 50% down the worst phase is over.
ontarget....semantics, where was the share price 1 or 6 months, a year ago etc?
If this went up 100% tomorrow it would be trading at 7p ish.
I can tell you there is no drop today - yesterday's closing price was 3.5-4.0, same as the price now - have a look
Another double digit drop ffs! No news, no RNS yet the sp sliding away to zip notwithstanding the optimism floating around on 07 March. Can anyone tell me why?
Some fairly chunky 50/70/100k trades and a small increase. I suspect Kight is hoovering up some cheap shares today. Not sure who is supplying these though as guess everyone is more or less underwater.
Going by past performance, this announcement will just be the start of it. Expect more over the next week. Don't hold your breath though, they'll just regurgitate what's out there already but with added sparkle.
What has happened to money munch, doesn't he usually post all these new news stories.Nothing new really, but at least it may get a few more punters interested. Obviously with the exception of the board. Funny how they've announced some news this morning after the negative comments they've been getting on both chat sites. The fear of having their salaries replaced with shares was probably enough to wake them up.
Good news for patients and investors.
Holding EVG has been painful for a year or more. I would be grateful to see the 50 day moving average trending upwards.