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It's because last week the US Department for Agriculture released a consultation on the labelling of cell based meats (https://www.usda.gov/media/press-releases/2021/09/02/usda-seeks-comments-labeling-meat-and-poultry-products-derived)
This is what's caused the huge spike. Seen as a step closer to approval in the US.
I am the same. Will hold as I believe in the portfolio but annoyed by the complete radio silence since the fundraise.
The other thought I had was that breaking below 22 (the fundraise price) triggered sell orders. Seems like that was the tipping point for the decline this week.
No news for 4 months and slow sell off. See people continuing to sell to move to other investments.
Agree with RWT, why raise funds if you don't have any investments ready to go?
The cynic in me wonders if it's to give Mellon's company a nice pay boost by increasing the NAV...
FYI - emailed ANIC about when we'll hear about new investments and updates and got a reply within the hour:
"Please find the most recent newsletter here: https://mailchi.mp/23b24b9ccab1/wlydxm162w-4173621
We are actively identifying deals and the board continues to assess options for deployment."
Given how oversubscribed the share offering was at 22, I think it's pretty safe as a floor.
With 66m to invest, there will be further catalysts on the horizon. However, we will stagnate at this level until that happens. The silence from the team is a bit worrying. Would be great to have more PR/Comms to help drive momentum.
I'm optimistic and will continue to add to my position (and it's my largest by far), but I do think that we'll continue to bleed downwards unless there's some update/communication. It does seem a bit too quiet!
In ANIC's half year report, it showed that they were sitting on 66% cash, presumably that's the £62m raised and some change left over. I have heard that the plan was to invest this within 8 - 9 months from various podcasts that Jim Mellon has done.
Does anyone know when we should start to worry when that money hasn't been invested? It's been 2 months and ANIC has been a bit silent lately. Would be good to get some firmer news about their approach moving forward.
I think the drop to 22p makes complete sense, as anyone can easily profit off market prices if they bought through a broker - so it makes sense to stabilize there next week.
I'm not sure if I see it falling below that - especially with how oversubscribed the retail offer was.
I will certainly be adding next week if it does.
Hi everyone, I'm a new investor and have chosen ANIC as the risky part of my portfolio.
I've been a bit unlucky as I invested the day before the share dilution announcement and it's now down 23%.
I really believe in ANIC after doing my research and want to try to DCA over time.
Am I right in thinking that both the share dilution and the director compensation may trigger a further decline in price? The share dilution coming into effect June 1st and the director compensation on July 1st? So would the best entry points be after these events?
Apologies if these questions are very basic - I am still very much learning. Thank you so much in advance.