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Remember also that the other airlines are in different markets (FTSE100/250) and Jet2 is in AIM which maybe a factor here. Watching it over the last few months (well since March really when I got in) Jet2 tended to plot a different path to others and never really reached a high/low at the same time.
There may also be people trying to get in or top up who lost out on the placing price - we're not a million miles away (or weren't) who want in close to the placing price...
Just my opinion, DYOR.
The problem with lft tests as someone else alluded to is the assumption a negative result equals covid free. There was a word used (can't remember now) - but essentially saying that a positive test = isolation, a negative test = carry on with all the social distancing measures and act like you did before.
If used in that context then they'd help keep those with higher loads out of the community - while everyone else carries on social distancing etc like before.
I think the problem comes with the assumption that I've had a negative test which means I don't have covid. If that's the assumption people have using the lfts then it's pretty dangerous. Could lead to people acting in in safe ways. Don't use lfts as a way to return life to normal (e.g open clubs and sporting events which can't function in a covid safe way).
Hopefully some new tests arrive which are actually reliable and can be mass produced. But public perception does worry me a lot - putting a reliance on inaccurate tests will make things worse.
Just my opinion, dyor
@shrewd11 - Yeah I agree. When I first read the RNS it sounded pretty rubbish. Then re-read it again and actually it's not _that_ bad. Sure it's not the great news everyone was expecting but it's not a 50% drop in SP bad.
As I said in a long(ish) post yesterday - part of me wonders whether this is all part of the game to get rid of the old BOD and keep those expecting warrants happy. Volumes were massive yesterday - and likely will be the same today. Couple of days of rock bottom prices to allow those placees to get their cheap warrants (and more) . Get rid of the old BOD etc and start afresh.
Sentiment is probably a big thing - people feel betrayed - BUT those being realistic always knew this wasn't going to be a smooth ride. People weren't going to take the revolt lying down and this is the punishment.
Just my opinion, DYOR.
Ignoring the content of the messages, but constant negative posts to deramp is a sign that buying maybe a sensible thing to do. Just need to lean the lesson that crap loads of ramping is also a sign to sell if you're in profit.
Just my opinion, DYOR.
MM's currently sat on 1.8/1.8. Doesn't look like a mark down to me. Hard to say what will happen today - We're still under the 2p "warrant" price - so there could be plenty of buying here today still.
Just my opinion, DYOR
.... It was always going to be...
Seen some mention of the RNS having a "TB ring" to it. Perhaps this is what had to be done to clear the decks.... TB is gone now - no more options etc available which could be cashed in at an importune time to influence the SP. If he's no longer a director (which is what I understand the RNS) then no further director dealing RNSs to follow - therefore nothing to spook a market.
It's frustrating that the machine isn't operational at full speed - no doubt this could have been RNS'd earlier - but all the "bad" news has been packaged up into 1 statement - giving all the bad news at once. The machine _is_ producing masks - the RNS tells us that. It say's it's down on expected capacity - but that those issues can/will be fixed.
Anyway, we've churned a good chunk of shares today - nearly 420 mill at my last check. The BOD had to deal with those who took part in the placing and were expecting warrants. With the SP under 2p as it stands - they can fill their boots with cheap shares at a cheaper price than the 2p strike initially offered, but without dilution to the company. Winners on both sides here - cheap shares for those expecting warrants (at under the initial strike price) and no dilution for everyone else. Granted, if this wild theory holds any truth it's pretty dodgy - but not totally unexpected given what's happened in the past.
Whether rightly or wrongly, I've topped up today - still in the red though. Hopefully this wasn't a bad decision, but that remains to be seen. Fundamentally not a lot has changed - the machine works and produces masks. Within the next few weeks it'll be performing better. TB is gone and the BOD can start a fresh.
This doesn't IMO warrant a tank of nearly 40% from where we were before - which is why my train of thought came to the above. I think a lot of people are sentimental to the company (I'll include myself in this) and see this as their hard work being chucked back in their faces. TBH I agree - it does feel pretty rubbish. But to be honest, we don't know what's gone on behind closed doors. What "mess" was left for the BOD to deal with and what was required to resolve it.
We'll never know - but perhaps this is what it was always going to be. 400mill warrants were expected - maybe this was the "easiest" way for them to be delivered....
Just my (probably crazy) opinion, DYOR.
Added another 100. Pulls down the average and happy to add a little more if this drops further.
I suspect (and have done for a while) plenty of PIs who made a killing here have taken their money and gone after bags elsewhere. ODX, GDR, ARB, ORB etc etc have all risen rapidly recently - Covid plays are gone (for the moment) it's all about Blockchain now! There's more hype around those shares - but more risk IMO.
For me, this is worth the risk - while I was late to the party and my holding isn't massive, 12-15 quid short/med term would be a decent result for me and I can see us getting back there. Fundamentals haven't changed - but gone is the rapid rapid growth seen last year - this company feels a lot more mature that the ODXs etc - and their product IS required and IS key to fighting covid both here and abroad.
Know for sure if I did sell, the price would go up anyway! Ha!
Just my opinion, DYOR.
Agreed - L2 at the moment showing 2.7/2.8 - coupled with the late ramp up yesterday. This is a different pattern to what we've seen over the last few days. May mean nothing, but the pattern looks to have changed.
Just my opinion, DYOR
Plenty of pretty large buys at 2.5p - good interest at this level!
Good to see the BOD acknowledge they need to get news out - and it does sound like Commissioning is just the start. They've still not yet had a week post the Warrants "issue" - if it takes a week or so to get the machine up and running and adjusted etc then fair enough. I suspect if there were further setbacks (which would be classed as sensitive right?) we'd know about them via an RNS. We're only in a rush for news as previous information was probably released too early in order to boost the share price (with bad news released to drop it back down again). In reality plenty were probably caught in the hype of the RNS's and didn't stop to think about what they were actually saying - I'll include myself in this...
Just my opinion, DYOR.
@Torreaguas - we seem to be "stuck" in a holding pattern. 2.6-2.7 plenty of trades showing as sells. Drop to 2.5-2.6 and reverses to plenty showing as buys - no doubt it'll reverse again shortly.
This doesn't feel like a mass sell off or people wanting out - if you wanted out, you'd sell at any price. Feels a bit more like there's a buyer and seller with price targets.
Just my opinion, DYOR.
@Torreaguas - I agree to an extent. An update today would have been good for us to see. HOWEVER I still feel like there's a lot more going on behind the scenes than we're privvy too.
Reading between the lines it sounds like there maybe a bit of a mess to sort out. Clearly the recent focus has been on making a crap tonne of quick cash - "cashing in" on the covid/virus killing mask has been the key focus rather than attempting to run a proper business. Promises made (and dashed) - mostly to aid milking the company for a few quid.
I expect to see updates coming (and soon) both on the mask front and other areas - especially with the extra funding available now. But what we don't know is what the incoming bod have to deal with first - before announcements can be made.
An update would have been nice - even if it was just a "we're working on it" - but they now have their mandate. PIs have spoken and hopefully it makes it easier for the new BOD to get what they want done.
Shares seem to be exchanging hands at a pretty static level - the SP isn't really moving much and didn't on Friday either. One could speculate that's the last of TB/PR options being cashed in, or could be someone involved in the placing getting their "out" or "in" as part of an agreement due to lack of warrants. Hopefully it'll all become clear. We've waited this long for good news - lets give the BOD a few days and see where we stand then. Hopefully we'll get some transparency etc
Just my opinion, DYOR
Don't think it was - looked a little on the large side and more cloth based (this is from a screenshot I took of the zoom when it was windowed so hard to get any fine detail)
Just my opinion. Dyor
Plenty of newsflow to come - Suspect we might see some options notifications coming along soon as well. Remains to be seen how the placess will take their lack of warrants (maybe the BOD will clarify?) - we may also see some selling from that side too...
Just my opinion, DYOR.
Great victory - the one thing I find interesting though is the total number of votes cast. 813mill is no where near the total number - I'd have expected the placee's to at least try and vote for the resolutions. The total number of votes cast looks around the figure of Dr Cave + the list from here (ish)
Just my opinion, DYOR.
WOW. Was not expecting the ordinary's to get voted down as well as the specials. AMAZING!
DYOR
We only have enough votes if everyone who voted keeps their shares. Granted there was some wiggle room added - but it's not over 'til the fat lady sings.
There's 2 more trading days 'til the GM. Another couple of +20% days (pretty unlikely) and the whole ball game changes...
Just my views, DYOR
It's not really a sell off - check the buys vs sells (I know it's just the way the transaction is reported) but today the numbers are pretty even. Buys have edged it most days recently - certainly doesn't look like a sell off to me.
Personally, I've topped up here again today - got in late, but pulling average down slowly but surely and still hoping to see 12+ again at somepoint.
Remember, 12 months ago the SP was TOTALLY different to what it is now - plenty of people have made a LOT of money here and continue to do so. You can understand the appetite for people to take some/all of their profit and put their money somewhere else in the hope of finding the next NCYT. There are still legs here - but you can also understand people taking profits and dropping cash into other shares trying to hit a quick bounce.
Just my opinion, DYOR.
Yep - said this last week. Either up or down could lead people to sell - down people panic and get out, spike the price, people sell. The SP is remaining pretty static at the moment - trading in the 2.2x range roughly - and has been for most of the week.
Watching the trading pattern over the last few days, mornings generally seem to be sells higher than buys with the afternoon being buys higher than sells. Lets see if that remains over the next week or so. Plenty still to unfold - but I suspect we'll trade in this channel until the GM now..
Just my opinion, DYOR.