Surface Transforms Share Price (SCE)

The management briefing on Thursday will be key.

We are pretty much priced for bankruptcy and yet have millions in the bank and a strong order book.

If they announce a credible plan to deal with the production issues and a route to profitability this will fly.

I can see this being on the rise for throughout the week.

I noticed Sneller also took a fairly large hit on Deltic so hasnt been a great year for him so far.

Hopefully the block buying continues here with one or multiple parties clearly building positions while the share price is so low, expect to see some more holding RNS in the near future. If Sneller hadn't sold 15% I expect we would be at 2/3p by now.Looking at the chart, if we can break through 1.2p its a clear run back up to 3p. We've got the presentation on Thursday and news regarding the loan, financial reporting and operational progress all to come this month.

The take up of the open offer should be maxed out at the current share price providing plenty of cash working capital headroom until we hit net positive cash flow.

Richard Sneller may have had his position hedged I suppose, but a priori it looks like he didn’t call it right, but make an UTTERLY catastrophic, schoolboy trader, error.

By taking out such a large position in the first place, then selling at the absolute bottom. Even if the company eventually goes bust (a big if) he would have had an opportunity to sell at a higher price than he did, between now and then. He could have sold on Friday for pretty much20% more even, if he had drip fed it. It was an emotional, panicked sale. Perhaps caused by some bust up in the boardroom. A flounce out.

Calling it right? Are you having a laugh?

If you want your investment manager to buy high and sell low, he’s your man!

It's a pity Richard Sneller reduced his holding to zero.

Obviously he sold knowing his investment never be in profit (after dilution).

Sensible move capital gains taxes ect off set profits else where.

Bought a few shares the other day purely as an high risk opportunity only, previously invested, but was frustrated with lack of management skills, maybe a change now is due.

With shares in so many lose hands, any likely takeover will result in a pitiful return.

Hence my view losing a large shareholder.

Maybe only maybe things may turn around.

Time will tell.

Note: horrific situation for LTLs.

Do you average down or sell.

Just maybe Richard Sneller as called it right?.