Johnson Matthey Share Price (JMAT)

Jeffries raises to £22 from £17

From what I can see most of the transactions going through today (according to LSE) are relatively small buys and sells. Not sure if the MM are trying to encourage or panick holders and JM staff to sell their holding.

As of now 251,000 shares traded. 0.1488 percent of existing shares to be exact. A minuscule fraction of the 168 million shares in issue. Yet the market makers have still conspired to mark the shareprice down 1.6 percent - in whose world does that make sense?

Once the hard cash for the asset disposal is deducted the business is valued at less than one billion; placing it in small-cap territory. There is no other market on earth that values stocks in the same twisted way as uk markets.

JMAT would have served shareholders better if they’d allocated the entire £1.4 billion they intend to return to shareholders, and used it to buy back shares. At current SP they would be buying back shares at about 50 percent discount to intrinsic value. And share buybacks would smash market makers and their brokers (quite often one and the same) and prevent them rigging the price to profit themselves. The uk market is akin to a casino that’s allowed to choose its own card to ensure they never lose. At the expense of investors.

I am going to send this suggestion to the investor relations and I suggest other shareholders do the same. The only reason the government refuses to endorse an inquest into market maker/broker collusion is because it would destroy all confidence in uk markets.

Spot on Toffappleton.

They are simply manipulating the market price for short term profit.

The Chancellor's cunning plan is to now raid the tax incentives making it even less attractive to long term investors and yet at the same time force pension providers to put more cash in.

Rugs

Not against shorting on an individual basis. What I do object to is massive funds like Blackrock and their boiler room affiliates collectively targeting a share for to create massive downward pressure on the price. Smells too much like organized crime for my liking. And, don’t forget, shorters are buyers too - they merely complete the transaction in reverse (sell first buy later)

I suspect there were a lot of short positions closed yesterday at eye watering losses. Blackrock & Co became forced buyers at unfavorable prices.

I often go long on heavily shorted shares in the knowledge they will soar on short covering, on the issuance of positive news. Vistry being a case in point amongst others.

Today’s shareprice action is disappointing. Perhaps someone should tell the market makers Jmats disposal is a done deal, not speculation. Current price is comparable to selling £5 notes for £3.75. I’ve been involved in markets for decades and have often lobbied for an inquest into market pricing practices. But it seems the regularity bodies are terrified by the prospect.