RE: Bottom line ..5 Aug 2023 09:23
I think one of the majors selling in the background has probably cause the share price to be where it is. People take the view its PI's which many may not have held as long as major holders have. Imagine sitting on millions of pounds of losses for around 7 years and still have nothing to show for it. With the SP flirting at the bottom end. But this time. Cyberattack and further news on this and completion of the investigation is yet to follow. Delay in dividend and reputation in general has taken a blow, further more, if this sticks around 20s, it has in the past taken 1 to 2 years to even come out of that rang and likely to knock this share of ftse 250 again after the reshuffle. I believe major holders is what keeping the price where it is. The price on Friday in all honesty wasn't volatile but was drifting where trading to make quick 5% was virtually impossible. Traders have jumped in hoping for a quick bounce and hoping when american markets up, it'll bounce and make quick 5 percent, unfortunately many day traders are stuck with a loss hence why we've started to see new post popping up. If all PIs thought the same and said, it can't go any lower, they wouldav pulled in at the same time and wouldav seen a bounce but why no bounce when many claims buys outsells sells, many claim its overdone. Yet price action is saying something else. I think if this drop is caused by major holders, then I'm not expecting just one to reduce, but few. Could the new ceo tap in to raise funds through placing to deliver a new vision to grow the business. It needs fresh money 💰 all in my opinion...I still believe it has further to fall once day traders dream of hoping for quick 5% profit turns into 10% loss trade and sell out...IMHO gla hope it works out for you
Sign In
Follow the stocks
