The month that was.........4 Jul 2021 18:34
So the month of June has now passed and with all the good news about ITV since the year end numbers on the 9th March, the stock has managed a rise of just 2.65p no less !
Just last month the stock opened up on the first day of June at 128.95p and guess where it closed a month later on the 1st July.............128.95p !!! Yes we have had a few days of new year highs in between as well but since our friends at GS upgraded or was it downgraded ITV on 6th April the stock has hardly moved apart from the intra-day moves which have been led by GS via the order book rotation.
Here was Goldmans research note headline on 6th April 2021 , no doubt the GS 'analyst' had worked tirelessly to produce this masterpiece :-
GOLDMAN CUTS ITV TO 'NEUTRAL' ('BUY') -TARGET 135 (118) PENCE
Brilliant !!
Okay, now I mentioned all the press articles and positive news regarding ITV since the year end figures and we have now been told to expect July's numbers to be a record for the company :-
https://www.theguardian.com/tv-and-radio/2021/jun/25/love-island-earns-itv-12m-before-new-series-as-advertisers-jostle-to-take-part
And this was from June 25th and yes once again the stock hardly budged on that day, opened at 127.20 and closed at 127.70
We are also led to believe once again that Marshall Wace have cut, reduced, cancelled or whatever you want to call it, their 'short' interest in ITV on the 18th June 2021. Did they have they a short position in the first place, we know that they have been working in tandem with GS, see last years short interest movements , so I wouldn't read too much into this to be honest.
Anyway, an endless conveyor belt of good news for ITV and even the prospect of a return to dividend payments this year being talked about in some quarters and yet still no movement in the share price.
With the return to the FTSE being a damp squib as well and with Saatchi, S4 Capital and WPP powering ahead on their numbers it seems to me that GS have now employed new tactics to get their hands on ITV stock, i.e. keep the stock trading around these sort of levels (order book rotation) and get funds/institutions to sell citing the narrative, 'the stock has had a good run since last August and most of the good news is already factored in the price..........'
What a load of complete and utter nonsense !!!!
You would think a lot of institutions would be wise to this but now take a look at this website, its one I posted back in November last year and shows some of the movement in the shares of ITV :-
https://www.morningstar.com/stocks/xlon/itv/ownership
And click on 'selling' and on 'institutions' and it will become very clear on exactly what tactics are being employed !!
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