Yes I think those who want to sell will be out by the end of Friday. So 14p to 15p is a fair target at least. That will be 50% off the price from yesterday. I think that will be full value for LIT at this time .....down from 116p a year ago. Lots to go for those that want to take a risk of course . Hard to think of a riskier stock than this at the moment but 40p if they win an appeal. Big if....but then this is not a blue chip.
Good close for those that bought at the lows today. People often panic at bad news and sell at any price. What was that stock that announced it was to delist and then soared over three times. Cant remember the name now even though i bought lots of it.
Over 20% since the lows. I got 8.8 p as posted here but it went closer to 8.5p. I see something like 13p. Looking to take a quick 40% to 50% myself....possibly tomorrow. I see that as fair value although if they win an appeal here it may recover to 20p. So many interesting stocks at the moment around.
This is why the share is down 65 % today. They do have insurance to fund part of the loss. NAV is 25p so they may have to limit the cases and seek risk funding.
Of course...but plenty of risk money around. A big win can mean millions. They win some lose some.
The question is....is the fall from 27p to below 9p too much. Thats the risk. It is a very high risk business at the best of times. The only certain winners are the lawyers.
I added lots below the placing price today. Who cares if they raised cash at a few tenths of a penny discount? This went to over 20p a few years ago. GGP has gone from 0.03 to 350p today. Want to make a few quid or half a million? Got a chance here of the latter.
1.30 today. The complete uncertainty on what next suggests this will break below 1 pence. I personally think this should be suspended. We dont know if this is a going concern or whether it will have to return all the monies or what the conditions are.
I think it is very unclear and holders should prepare to write this off. The FCA/LSE has let us down badly. They should have set out the rules clearly months ago. I dont mind losing ...I pushed the button and did well on the way up..............but they knew about these bitcoin type investments many months ago and did and said nothing. They should have said no until the rules were clear to all. No wonder instits refuse to invest in the UK. Wild West with no regulation these days.
Remember that for the last month this has been just over 2p to buy. So a lot of buyers are sitting on a lot of profit. I am sure this volatility will settle down soon