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2m dumped in first 90 mins and since then no one picking up the sells.
Very different to Friday.
FCA data shows the unusual Friday activity was indeed shorts closing as down to 10.57%
Just as shorters get what they've been prophesising and waiting for for months they decide to reduce their positions? Absolutely bizarre.
The iffy spike to 30 plus has trapped loads jumping on the pfc bandwagon 🙄 those bears 🐻 are roaring
To put a little more perspective on it Rock, although GLG reduced (from 0.88% to 0%), Millenium increased (from 1.81% to 2.03%).
So overall yes a reduction in shorts overall - still good to see though
I think most were hoping that Friday’s resilience in the afternoon was genuine buying NOT shorts closing.
I certainly was.
Hopes dashed.
GLG’s exit is what held the price on Friday, simple as that. Millenniums going for the jugular.
The saga continues
Millenniums Likely increased with the 2 m + this morning.
Previous low was around 15.5p?
Rock8,
Shorts reducing from 11.23% to 10.59% in a day is a positive in my book.
What’s got my attention is the bond price at 25p.
Previous lows were around 35p in December when the SP was mid teens.
I really hope they can navigate through this cash flow/debt issue but the amount of shorts still here signals otherwise. If the business was for sale I’m pretty sure the shorts would know. Going to be an interesting couple of weeks here.
Not mine.
Hope it was genuine buyers not shorts covering.
Others now increasing
Bond price dripped to 25p on Friday which was probably the clue about shorts closing.
No real recovery today but low volumes on both days
Let's see tomorrow afternoon.
Yes can’t be believe there’s a buyer anymore now Fridays resilience explained.
Resilient 25p bond price is a major concern now.
Are they reporting late April?
13,000,000 traded 23 not bad really. I just cannot see that lenders have anymore faith in the board than me. They release a negative RNS when they did not have to and don’t release one today or when the Algerian contracts were awarded. It seems chaotic. I just hope there is a hostile takeover brewing. If the new owners avoid a dilution and get the business back on track we can at least look forward to slow upward progress and more competent management.
Mind if it hits anywhere above 30 again I am getting the f#%k out of Dodge if there is no progress.
Agreed
How low do you think we go before then?
Assuming results as expected in a couple of weeks
If the Algerian contract has really been awarded maybe they're saving the news to sugar coat the FY results.
Worry we will retest the 15s previous lows as arguably things have deteriorated since then anyway and we have not buyer.
Shorts down by 0.66% and bonds marginally up by 0.5 point..
I have a small holding here and as at Friday am now down. Clearly very naively I was wondering how PFC was still managing to secure new contracts when there was clearly so much concern about its solvency. Unless I’m missing something, the answer really does appear to be in that RNS. They weren’t really securing contracts, they were agreeing contracts that remain contingent upon delivery of guarantees which it seems they are simply not going to be able to deliver. In their absence this is finished. Why would a competitor launch a hostile takeover when they can pick up the pieces for nothing instead and probably charge a premium for stepping into the breach? Happy to hear alternative points of view but I am seriously considering cutting my losses here. I don’t normally do that, and would usually let a small punt like this one ride, but this looks particularly bad to me.
1st May will be completely different. Everyone needs to chill here, What's the rush in selling your holdings. Wait for the results in April! Some shorters reducing some increasing they know nothing! Too much scaremongering in here am down 60% and have used this opportunity to reduce my average. Happy to hold and add sub 20p (which I dont think will hit). See you all when results hit - BUY when people are fearful. This is a winner with a huge backlog and amazing potential. It cannot fail, the industry needs it. HOLD ADD HOLD ADD!
The BOD would rather survive a D4E than get sacked by a hostile takeover or even a semi friendly one.
Shorter reduce from 7 to 6.
Shorting reduced.
https://shorttracker.co.uk/company/GB00B0H2K534/
Good luck
either had enough or rats leaving a sinking ship (the latter).
1, let’s issue a prices destroying none rns,
2, perfect timing for jitters as iran launches attacks,
3, awaiting another share destroying rns (years end results next two weeks),
4, shorters abandoning the sinking ship
results:
1, the old boys club set up for success ( all help each other),
2, pi’s that make up the majority of petrofackeds owner base f88k up the **** by the board paying for their mismanagement.
wow would never have predicted that flow…..
good luck to all lth, gona need it with a large does of lube.
If this company finish how can they won more new contact and extension more work for them to secure its future? Just month ago a RNS state they won 1.2 billion new contacts and it have secure guarantee so they need to secure second . That is make sure they will get over whatever situation .
COE play dirty job in this company and now we are all aware this. He will be soon fukc off this job and someone will take over his post.
Below statement was in first paragraph of Strategic review statement from December 4th. I would have to say they've made a real hash of the key aim of the review; Shareholders seem to be the last people they care about. All senior management should be sacked.
"A key aim of this review is to protect the interests of Petrofac’s shareholders, creditors and employees while the Group continues its focus on safe and effective delivery for its clients."