Share trades2 May 2024 09:22
Someone is toying with this share. Look at the share trades – dozens and dozens of sell trades over days, often only amounting to pence at a time, forcing the price down and the spread wider and wider. It's not retail doing it, because the dealing fees would kill whoever tried.
It's always traded very technically, this share, and by that indicator I'd anticipate it will fall to 9p again before its next bounce. If it does, then I expect it will get at least into the 20s. But if it is being manipulated, then how much higher will it be allowed to run? Fundamentally it is worth much, much more. It would be nice if a regulator were to investigate exactly what is going on here, but that is as ever a forlorn hope.