ITV - Report to the FCA31 Jan 2021 18:07
Well what a week that was for ITV !
I mentioned last week that I felt that the Marshall Ward 'short' was in play from Thursday 21st January, the day the company upped their ITV short position from 0.6% to 0.7%.
Lets re-cap the last seven days of movement in ITV shares :-
21/1 - 2.15p
22/1 - 1.45p
25/1 - 7.15p
26/1 + 3.20p
27/1 + 2.30p
28/1 + 1.70p
29/1 - 0.60p
Now bearing in mind the market was complete garbage this week and nearly everything was marked red, just have another look at what ITV did just this week, it managed to claw back that Monday loss in three days. Why was the stock down 7.15p on no official reason, well as I mentioned it was more than likely that GS were helping their friends at Marshalls for the last time.
Okay, why now would Marshalls want to close their 'short' ? If you have a look at all the short tracker websites, Marshalls have gone short of ITV shares in the month of January for the last few years and GS have helped in driving down the price, don't forget they profit on their own bear/put position in the stock via their in house OTC derivatives, it also helps in driving out weak institutional holders of the stock which we saw over the Summer of last year.
But this year its all change...................... rise up the power of the small investor !!!
Thanks to Redditt, there is now growing anger and resentment towards Wall Street and there's talk already of it happening to our markets, so much so that GS even put out a statement that if this narrative continues in the market place, there could be an almighty market crash !! Really ???
Redditt subscribers jumped from 1.5m subscribers to 6m over the weekend and still counting and it very much feels that there is a real power shift beginning to take shape here.
Those last five years of shorting ITV will now become a thing of the past, Marshall Wace and GS will want to distance themselves as far as possible from being the headline acts in this sort of market abuse.
We saw the latest RNS ITV holdings disclosure from GS this week and yet again no-one knows where these shares have gone, over 20% of ITV shares have now been 'officially' disposed of by GS since August 21st, or so we are all led to believe !
After the actions of Marshalls and GS this week and the growing resentment towards these sort of companies, I have now decided to compile all my findings and will document in detail my research on how I feel that ITV shares have been heavily manipulated in the market since 2016.
My sister-in-law is a retired corporate lawyer and she has agreed to add all the legal jargon to the report and will also lodge a request for certain information pertaining to the dealings in ITV shares, under the Freedom of Information Act 2000.
Once its finished she will send it over to FCA and the markets surveillance division and with a stipulation of a 28 day response time to the report. If this is not adhere to, I will then take
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