Zak mirs10 Nov 2020 22:24
It is normally the case that when a significant shareholder sells out of a stock, the TR1 acts as a downer on the share price. However, traders observed the way that “debt seller” is now under 3% on the shareholder list of Iconic Labs (ICON), with the hope that the shares will now finally be able to fairly price in the Joe Media takeover, and that we are in the run up to Iconic Labs being able to announce a return to profitability, something which was flagged at the end of the summer. Shares in the new media group rose 11%.