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See RNS. Knew someone was loading up… will we get some more declarations?
That’s a decent position to be taking in the company, they must see plenty of upside from here then
You would have to assume that the seller has limited shares remaining if one buyer has taken 5 percent. Could be all done . Pretty sure this will fly once they are done.
Added only around 1000. Had to do multiple buys as shares were not really available even for that amount.
This is a good read & HOTC is a perfect fit for the scenario that they describe;
https://www.phoenixassetmanagement.com/our-philosophy/how-we-invest/
"We consider a purchase of stock as handing over our money to a management team. We choose people that we believe possess integrity and will act in the interests of shareholders and look for management teams that are competent and honest.
Having found great companies and good managements, we wait for the opportunity to invest at attractive prices. This can take years and may never happen.
Great companies rarely trade very cheaply and if they do it is usually because there is some recent bad news for the company, its sector or the economy. We specialise in looking at these situations and determining whether the factors causing the price to fall are temporary or more permanent.
Occasionally, the market overreacts to short term negative developments and we get a great opportunity to invest with a long term horizon."
Great find, that makes perfect sense then buying into HOTC. Hopefully more additions coming!
Hopefully this should start to recover now.. back over £2 soon!!
It’s interesting that most of the shares that were sold by an ii that caused the big drop have now been bought up by another ii but yet MM’s conveniently don’t raise the sp. Gotta love the stock market
Held up well today. No morning drop. Could we see a great afternoon?!
It'll not rise until the big boys are finished doing business - there have been big chunks traded on both days since the TR1 threshold was crossed (26th), so either Phoenix are adding more or we have another buyer. I still find it amazing that this was trading at £4.75 as recently as 4 months ago, my guess is a steady recovery to ~£2.50 by Christmas.