RE: Aaarrgh5 May 2022 10:14
I'd say manipulation for sure ..... the problem is volumes if the figures can be trusted. In the first hour of trading today it shows:
Vol Sold: 336,206
Vol Bought: 304,371
That's really a miniscule amount of shares. So if you had a decent sized holding, e.g. a million plus, it wouldn't be too difficult to manipulate the price by selling your holding causing the price to drop and then buying back in lower causing the price to rise. Also, as the volumes are so small it's very easy for them to put a large blocking trade, e.g. 200,000 shares aa few pence above the current price which causes the price to get stuck under that level. Seen this being done over the past two years and unfortunately, I think this is perfectly legal so not a whole lot we can do about it. Wouldn't surprise me if the big shorts have bought a resonable sized holding and are using it in this manner to prevent them getting significant losses. Still think there is only so long they can get away with this before the price will correct.
Oh and one other thing, because we've hit 60p and dropped back to 50p about 6 or 7 times now, when we hit 60p people will sell as they expect it to happen again. So becomes a self fulfilling prophecy.
:-(