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I suspect it would be good for many's mental health to just switch off from it - if you have RNS and price alerts set you are not going to miss out on anything by switching off for a while. We are likely not in a quick buck play here.
A friend of a friend is involved with one of the other major Iceland tie ups. My understanding is it makes up a surprising amount of their clients business.
It would be something that is interesting to monitor longer term. There are obvious questions around how accurate these things are in the first place but assuming they are...
We need to look at a bigger picture. I work for an e-tailer and our sales can swing by 100% day by day depending on all sorts of outside factors. In our case Mondays, Friday and Sunday are always massive peaks, equally the week before pay day for most is always way down.
My point being. Interesting, but it's a snapshot and snapshots are very unreliable.
The current situation isn't fantastic by any stretch. Seems to me most holders have two choices.
1) take a painful loss right now.
2) write it off and see where it is in 5 years time.
We have quite a macro lens on this right now. I am sure in the longer term this will have its day in the sun.