Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
BTreacy,
There has been a 500,000 share trade after hours every evening for the last few trading days. In my view its an order worked by the market makers, looking at the upwards direction of SP travel I would say its most likely buying ( short covering ?)
Robina,
You are right they are only marked as buy or sell and not 100% reliable. I think the market makers and the SETS order book can be 'gamed a little bit' so it is possible to have a day with more buys than sells where the price goes down. Obviously as the market makers get short of stock and out of pocket they will re-price/ re-balance. There could be things going on in the back ground like a large sell instruction a market make has.
I think most of the old Institutional lot are almost out, so time for the new.
NigeCo,
You are right in your assumptions re algo trading, if the volume is low ( which it is ) a cascade of algo sells hits peoples genuine stop losses and down we go. As you say lots of uncertainty now hence 38% down. I do think that when the shorts are done and the Instis who were selling have finished this will rise to the 300s pretty darn quick.
Hard to say what the 75k and 65k trades were but I bet they are off book so worked through by the market makers.
I notice Publicis group PUGBY is very close to yearly highs after being in the doldrums for some time.
Hello Pokerchips,
As far as I am aware if an institution holds a stock and also has a derivative instrument short on the stock they would not have to disclose a net short position to the FCA as they would be net long. I don't doubt any of what you are saying but we are talking about actual net short positions and stock out on loan not CFDs. Of course the party on the other end of the CFD might want to hedge the risk they have sold and take out an actual short, where they would sell the stock.
Just my thoughts.
Davebt196,
You have just illustrated the point, if you were say a pension fund holding PFC at a loss with no dividend, you can lend your shares out for a fee for the shorters to do with as they please. ie sell. It gets worse, they also offer free research stories to the press and financial papers to 'talk their book' and spook people into selling.
Regarding shorters holding shares as well as a short position the answer is no, Shorttracker shows the NET short position and only above 0.5%. The total stock out on loan here was over 12% at the end of March and I think it was only about 3.7% of that was net over 0.5% threshold.
Hello Dark_Knight2020,
Yes thats exactly it, you borrow say 500,000 petrofac shares from either an institutional holder or Nominee Broker ( holding our shares ! ) They will lend them for a fee lets say 3.5%, there is no divi so why not make a return on a Petrofac holding. The shorter can then sell to the market, either in a big lump or in little tiny AT paper cut algo trades.
Drop the share price then buy them back cheaper.. theres your profit.
Of course you can also have short derivatives like CFDs as well.
NigeCo,
The different times is a bit weird, I'm thinking they have been manually entered by a Market Maker. Not ad a cancelation or - trade amount so I am wondering if it is two trades split with the second one being matched to a seller/ buyer.
Shorts closing or could Sorrell have finally put his hand in his pocket ?
NigeCo,
I think its the same trade. A buyer matched with a seller, we might see a cancellation after hours if I am right.
I suspect it will be a short buying some of the last bits from the seller (s)
I believe the selling is nearly done we will just have to wait a bit longer to see.
13.04.23 14:20:00 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP ECHO XOFF
13.04.23 14:42:39 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP LRGS ECHO XOFF
13.04.23 14:41:07 156.10 GBX 1,462,048 2,282,256.93 Off-Book TNCP LRGS ECHO XOFF
The stock out on loan on Euroclear for Petrofac was 15.5% at end Feb down from 15.7% at end Jan, 13.69% end Dec and up again from 7.19% end Oct.
So by my reckoning half the stock on loan is over a £1 the other half is around 83 -84p approx
redwineday,
My takeaway thought from what Wes said was that a competitor, WPP for example could buy one of the California AI companies lets say, but with close to 100,000 employees and non-integrated legacy agencies half of which aren't digital. SFOR would have first mover competitive advantage being much smaller, fully integrated and digital.
redwineday,
It could end blue, but there is either a seller or more likely shorters trying to keep it down.
The question remains here is there much point still holding a short likely averaging 205 to 240 ?
I think shorting anything AI in the coming year/ years is not the position to be in.
pauldrayton,
Agree, its sentiment and expectation that drives share price. There are a few examples that spring to mind, PANR I think was over £1billion market cap at one point, GGP another got to over £1billion market cap. I watched the share price there trade between 1 and 2p ( it even went sub 1p for some time ) then on to a max of 36p. That Potash project in Yorkshire SXX another one market cap reached £1billion before any production what so ever.
The stage is set here and no one can time when the rise will happen.
This is why I think Rockhopper is more use to Navitas alive than dead. ISCID or not we can raise funds though equity and reserves based lending, also can't hurt to have a British company on board when developing hydrocarbons in British overseas territory.