The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Today's buyers seemed more cautious than yesterday's.
Existing holders wants to squeeze every last drop out of distressed sellers before they are prepared to buy more.
Does any broker still offer T+2, T+5, T+20 trades? If so, it may be these gamblers who are the distressed sellers.
Patient buyers waiting for impatient sellers.
So that's a conservative estimate of 0.24 p per share based on 500 bpd. I'll take that - better to be pleasantly surprised than disappointed when the final test is done.
"Peter Appel, Managing Director of Beacon Energy's wholly owned subsidiary Rhein Petroleum GmbH, on 12 May 2023 purchased 11,000,000 ordinary shares of no par value each in the Company ("Ordinary Shares") at a price of EUR 0.002 (GBP 0.0017)."
I think that is a good guide price to buy below.
I guess the seasoned traders are playing their fiddles.
Hope I haven't spoken too soon, but it looks like a one way bet here.
I think many have sold first thing and now buying back at a lower price.
The early bird catches the worm?