RE: Sentiment?22 Jun 2023 19:19
Hi Jimi,
RF had sold 3,550,000 of their 6,500,000 shares by the 14th June 2023 - leaving them with 2,960,000 shares by the COB on the 14th June.
If MyIPA thoughts are correct, and RF started to sell their shares on the 30th May, then this means they sold 3,550,000 shares over a period of 12 Trading days = an average daily sell of 295,833.
I reckon I have seen a collection of 100,000; 70,000; 50,000 and 25,000 share sells between the 15th June and today, the 22nd June, amounting to around 460,000 shares sold, that could be further RF shares being sold?
If this is the case then RF could be left with just 2,500,000 shares today - and even if we said they sell these shares at an average of 125,000 shares per day - they would be sold out within 20 Trading days - i.e. by the 20th July 2023.
If we were to hear some Good news, such as the amount of DEVOTE funding before the 20th July, then RF may well sell out before the 20th the July !!
And I agree the market barely noticed Riverfort selling their shares over the period 30th May - 22nd June.
Our SP was at 17.25p on the 30th May 2023, and today we are at 17.05p.
The above are my thoughts, and is all-- IMHO