RE: Pardon my ignorance...29 Jun 2022 13:46
The MMs can't do whatever they like. If there's 6 MMs and one decides they want to smash the price from 50p to 45, eventually one of the other five goes 'these are cheap' and starts to bounce them back. It's not some corrupt game where they are against you.
What's clearly happened today in BENS (everyone knows this) is there's a big seller out there, the market has smashed the price to squeeze the cheapest price possible out of the seller and then lifted them after. It's similar to something like a football transfer, if Barca need money by June why would Man Utd pay £60m for de jong, they'd wait and squeeze them for £40m
It sucks for the market because you get margin called sellers ruining all these shares for the rest of us but it's just how it is at the moment