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Depends on how much stock you put into MM's being manipulative. One of them may have had a buy order of 1,000,000 shares at 32p (just using an example) so they could quite easily walk it down to 31p on the sell, clean out the stop losses and panicked PI's, then fulfill the order at 32p, and make £10k for themselves thank you very much. Quite a big spread between bid and ask, so it looks to me like they don't want people buying at the moment. Whether that is accurate or a conspiracy theory I'm not sure, but there has been no official reason for this drop.
How is that possible? What are the mechanics of lowering the SP for a buy in? It is all perfectly legal ?
Another kicker for me is one I have on my 2017 potential to buy list is up 41% from when I put it on watch two months ago. I know you can't win them all, but since ARM earlier this year (bought in 2 weeks before take over announced) I haven't won any!!
I hope you are correct about someone to buy in. There are so many automatic trades with MYT that with the SP having fallen below its previous low, the computers seem to have taken control! Hope your shares with placings come good again; if you had a good reason for investing I am sure they will. My portfolio is not looking too blue either at the moment. I did buy into SEPU last week and on Monday at about 20.75p on the basis that an offer will come from Hytera eventually. Hope I am proved correct.
Maybe the 1 at the start of their target was a typo! The hopeful part of me thinks this is being dropped massively to allow a big buy in and stake building for someone important. The defeatist part of me thinks someone knows something we don't. It is only a loss on paper, but tie this up with 3 of my other shares having placings made in the last month and I am proper hurting at the moment, my account screen is a sea of red!
In October the company's brokers were recommending MYT as a buy with a target of 130p! Surely they can't be that wrong, can they?
This is getting ridiculous. As you say Shaxe it would be helpful for the Bod to issue an RNS stating that there are no reasons that they are aware of for the large fall in the SP and putting out some positive news on the company's progress and anticipated profit for the year. Anyone brave enough to buy in at this level might end up with a 50% profit on a rebound to 50p.
???????
Something is going on, been a massive drop this month, seemingly for no reason. Would be good for something to come out of the company, but maybe not if that statement was 'we don't know either'
The company really needs to address this, come out with a statement or rns..looks like it is being shorted...beware..this could take off just as fast as it drops..India is booming...
Any interpretations of what is happening? Third of the price of when I bought in a few years ago! Have people lost all confidence due to falling profits? Saintpeter7 what makes you think it could be taken off the market?
Hounddog has already alluded to his concerns about this being taken off the market, which could be an option, they may have listed it for an injection of cash with a view to take it back off, which means the lower the SP the better for them.
Yes, that's the problem, unless we get good updates on such as the solar programme. I note that most trades are automatic execution trades which seem to cause an automatic sell off in the shares at present. At some point the shares are going to get ridiculously cheap if this drop carries on. The trouble is knowing when that may be because as you and Shaxe have said it is difficult to place a value on the company. Perhaps the SP is being driven down so that the company can be taken private by the chairman. If you think that is absurd, please do tell me so.
The year end results are about three months away. I would expect some upward movement on that. These tiny trades look to me as just market maker meddling.
Well I bought back into MYT too early at 49p a few weeks ago. I suppose I should have waited until there was some imminent news. Depressed SP; depressed investor! Current price is the lowest since it came to market back in 2010!
I don't think there is really any research beyond house broker. IC have, however, tipped this a number of times. I think These Indian power stocks are off the radar. Take OPG which announced interim eps of 4p which would lead one to believe around 8p for the full year (plus a maiden dividend). It's sp went down to 66p. MYT's problem is no profit plus difficulty of projecting profits given its heavy build programme. I am not expecting much movement up until next year when the financials become clearer and hopefully profits recorded.
It certainly is under the radar for most people. Was hoping for a trading update this month so we know what is going on, otherwise we will have to wait to March for the year results. They are not the type of company to put out RNS's just for the sake of it, and without regular updates most people would shy away from it I am guessing.
Mytrah means friend...and this one seems so friendless...it really is undervalued, and probably a take over target..
There seems to be zero professional / fund manager (as opposed to private shareholder) commentary and recommendation here. Anyone point to any? have a small shareholding and just seems unloved / undervalued
That was my thinking as well, but was just a bit surprised to see 4 10k buys within twenty mins of close, hence why I wondered if something was up. Then we went back to smaller trades (and sometimes no trades) so was all good! I have enough roller coaster shares, don't like having to act quickly with sudden jumps and dips, too lazy for that. This one is a bit of an early in for me, so I will see what the year end results are to judge where they sit compared to my initial expectations and therefore my holding strategy.
I don't think that the volume has any relevance at the moment. I don't think the share price will move until the year end results are out.
Nice volume of buys towards close today, can't remember the last time we had one 10k buy let alone 4 in quick succession. Something brewing?
Completely agree regarding solar, but with the Indian targets I think there is plenty to go around, also with the fly by nights trying to make a quick buck there may be more money to be had clearing up their mess in the not too distant future. Reckon you are right about this being a Base year, and with experience hopefully they will correct their timings regarding the pipeline programme. You lost me slightly on the finance, I am more technical than financial, I look firstly on what the company has to offer, then whether they can achieve it, and then whether they can afford to achieve it. Not entirely sure it is the right way round but it is all I can do with my experience!!
Shaxe. The benefit from the refinancing was $4m per year. They did it in March incurring a $6m refinancing charge but saving $1m for the second quarter. For the second half they will save $2m. I agree with you this is one for the long term but it could start to move sharply up soon if results become apparent. I also have concerns about them taking it off the market just as it gets going. However, Ravi Kaillas repeatedly talks about IPOing this in part to give an exit for the Indian Infrastructure Fund mezz finance that matures in June next year. I am not sure what he means as MYT is already public. I think he doesn't see AiM as being public. The mezz finance is not well disclosed but as far as I can see is only about a 10% minority. In fact, if I read it correctly they already have the right under a call option to require IIF to subscribe at INR300 (c$6) per share. Quite why they have not done so is a mystery. Anyway, I am expecting some sort of corporate finance event next year.