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The price action here is unprecedented and confounding. Since the placing over 20 million shares have traded, and all sales have been at a loss for the holders. The recent announcement of a major alliance has not stemmed the tide, and sellers continue to pile up losses. No regard for this company to continue successfully as a Going Concern is being allowed. Why?? Complete disregard for shareholders and epic poor communications cannot alone explain this catastrophy. The pre and post placement valuation remains at £20m. Also unprecedented. Given the history-making price action, how can we now reasonably expect the company’s valuation to respond to positive trading news?? My natural optimism has never, ever been tested at this level.
I think the sells you see are all market makers dumping stock either from the placing or starting now to forward sell the next one. I am still heavily invested and remain someone positive of a recovery judging by all the jobs being advertised and recent contact wins. FFS STEVE no more placings this needs to grow organically now and will reap rewards for everyone if no more dilution
if they were to need another capital raise so soon, that would be bizarre & irrational. Would be the end for this company all together IMO. even by AIM standards i can't see it happening!
Genedrive had a placing at 25p, in September, and the SP was knocked down to 17.5p
It has now shot up to 41.5p in recent days
Whilst 2021 has been disappointing from a shareholder point of view, I am confident that a reversal will come , in time ..
There has no doubt been churn and there will quite probably be buy orders in place to buy back in on any reversal
I personally am not expecting any kind of new placing needs
IMO
Tend to agree, I don’t think there will be another placing however I just can’t comprehend who is selling now. Why do the market makers have stock to sell under 21p for example? The new placing shares were very tightly held and aim is rife with corruption and forward selling as we have seen. This needs to organically grow now and hopefully Steve has got onto this as I’m sure he values his life.
I suspect they are now at the fill or kill stage. I bought another £10k worth and this has all the activity and hall marks of something that could move forward fast at any time, the way they have been setting this platform through so many countries is quite amazing really and it stinks of enabling, getting ready for a bigge provider to partner up with, dunno it jst does and I think there is a real connection with MS all IMHO, Lets hope so. GLA.
This BB provides a wonderful home for trolls, I'm surprised there are not a lot more - perhaps having fun elsewhere.
Trading is so light that's it's no doubt really easy to manipulate the SP.
I don't believe a lot of shares are being sold, they are most likely the same shares being recycled, maybe even the same entity buying and selling them to work the price for a longer term goal - and if it's a MM there is no loss in doing so.
We can't work it out, it's impossible, and there may be several entities involved and also be IIs selling down (sometimes they don't care what the price, they sell according to a drip feed process). Whomever they a they appear to be doing their bit to crush the SP and with success.
The answer to it is clear - action by the company in the form of a fight back against their enemies, if they exist, and performing or out-performing against their operational strategy - we simply need more buyers as current shareholders topping up isn't enough.
Unfortunately so far the BoD don't seen to give a damn.
Hopefully, they are working on it, but I suspect they more likely have discovered the secret in invisibility and are pro-occupied in perfecting it, as we never see hide nor hair of them. I've never come across more Low profile CEO's (lead from the back springs to mind!).
Maybe Steve has decided he want to make amends - I just noticed that Steve and Simon Healy CFO (our departing Finance director) are giving an investor presentation to what appears to be a low-key forum primarily aimed at institutions (website has articles sponsored by major investment outfits).
I don't think it will be much, but the message it portrays is Very significant, just making the effort is a positive rather than appearing to be indifferent - perhaps they've finally filled their boots and want the SP to bounce back.
It is apparently free to register - shame it's via Zoom.
https://quoteddata.com/events/mello-progressive-event/
Ive been saying all along this was encouraged down by them all and yeh man in particular and is getting lined up to attract the right people at the right entry point...I'm watching this space, think things are going to get intersting around here pretty soon IMHO.
"Unfortunately so far the BoD don't seen to give a damn"
jointhedots
It has only been 6-7 weeks since they had the placing cash to advance the platform and the new acquisition amongst other things.....so..I would give it a bit of time before assuming that nothing is happening and the BOD "dont give a damn"
whilst 6 weeks can seem like a lifetime when share price gazing.....it isnt when working behind the scenes to advance a checklist of tasks ...
It may turn out that some of the pending contracts sought are dependable on certain upgrades etc
I feel that just a little more patience is required at this critical time .....and it may well be rewarded
Pokerchips - I'm sure you are right, but trust needs earning - they need to demonstrate they have fire in their bellies and not just indigestion from gorging on shareholder cash.
jointhedots
sure but you will get indigestion if you let it all get to you...calm is required :-)