RE: 1 Million Sales24 Apr 2024 21:33
On the contrary, THE_CHAIN, it is precisely what I would expect to see with a death spiral.
When you find me one example where this provider's approach has been that of patient long-term partners supporting growth in equity shareholder value, I will concede that could be their plan here. Good luck in your quest.
Were I to have a potential 245m position I wanted to de-risk in these circumstances, I would play it exactly as the trading pattern suggests. I will concede that you are right that I have no interest in crashing the price... Yet.
Sell 200m, getting the best price I can for little parcels. Drip, drip, drip. Let the telegram mugs soak them up with as many £500 pay day top ups as they can, and also scatter as many as I can to the wind.
Destroy the price with the last 45m, then convert to close the short someone in the dark pool has let me and my Cayman buddies build up.
Sell 200m at an average of 0.6p, 45m at an average of 0.2p, convert (buy back) the lot at 0.1p.
That's a cool Bernie on the trades, plus the fees. Easy money.
Who paid? You did. Thanks for that pal. Now beat it.