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18 Quid value in the balance sheet was getting buys at 22 last week and will again. great loading up Levels.
I'm not convinced it is the large ii holders... sure, they had to rebalance after the MOUK deal and rerate but we have not seen any reduction from Cavendish for some time. They may well need to trim as the SP moves up to keep balanced but that is a nice problem to have... the fact that Cav remain maxed out on RRE speaks volumes.
I think its more of a perfect storm in a teacup the last week or so ... after the positive trading update it looks like we got an influx of new and likely relatively unresearched pi money coming in, a fair bit likely on the back of the high stockopedia rating and hype of RRE being the most popular in the challenge etc... we then got a sharp move up, maybe too quick not to have a pullback ... then we got the TAQA / operator case sideshow and the childish (jealousy) wideboy emails which might easily spook the unresearched into selling alone but we also have the Coronavirus and Oil dropping off 10%+ at the same time... all that along with RSI and chart techs being maxed after a sharp 25% rise I think the pullback and consolidation is fair enough. Throw in a few PI RRE fans wearing their "I sold RRE" badges with pride and you could easily see a few more unresearched following suit... lots of folks are on big profits after all and a few may have even hit a quick 10-20%.
None of this changes the facts.
Well AA needs to take them out with an open offer if this nonsence persists, should be £40 even without a deal. he must be getting frustrated with the stalemate in the SP Valuation the market is applying
Quick buck merchants are not the problem. Its IIs with large holdings and large profits that is screwing the SP
Just need the herd to FO and leg stability return for the real gains
Stay strong people remember the excruciating November ‘18 to January ‘19 period, this ain’t no different GLA
Gone now hopefully
And let's hope for less of the bungie ups and downs.
Let the company deliver there plan for the benefit of shareholders