George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
UK stock market is not functioning well by itself, basically all tech related stocks are manipulated by traders to drive down the price. From my perspective, the share buyback is effective in supporting the share price. The SP rose steadily from about 250p when they were buying the shares constantly everyday. After they stopped, the SP can be driven down 20% easily. The management will get their shares even without the buyback.
Having a presence there is good and Poppy and her sales team must be (they have to) working hard at the AI Safety Summit to try to win business or partnership with the attendees.
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The largest volumes were all at 370.44p and the first one happened around noon but t he SP was never that low at the time. I guessed someone dumped shares before afternoon, all the other transactions are only late reporting, that's why you see the dips on the chart. Fortunately, SP never gotten that low in normal trading and finished at 375p. It not ideal that the SP is down 4% but event like this in the past could easily caused the SP to dive 15%. Hopefully things have really turned around and we won't see no-news-15% -drop anymore. Finger cross the SP will rise on Monday.
ShortWhacker, I meant Darktrace have learned. They used to include the placement sell price in RNS and the stock price would open below that. Today's opening price was only 2% down. It is down 3.3% now as I speak but it still fair better than I feared.
The board authorised share buyback UP TO given value or shares or timeframe, whichever come first. But they do NOT need to use them all. The initiative was meant to counter shortselling and it is wise to stop now and converse the cash for day-to-day operation.
Furthermore, the EY report has been submitted to UK authority for inspection. There's nothing to hide but you wouldn't want a detailed analysis of your bank accounts to be exposed to the world, would you?
JPMorgan Asset reduces from 0.50% to 0.44%
Wellington Management International reduces from 0.52% to 0.46%
Wellington Management Company reduces from 0.52% to 0.20%
but Parvus Asset increases from 0.50% to 0.61% and is the only one with over 0.5% short position. Therefore, officially, there is only currently 0.61% short on Darktrace.
Lithium - "I’m not investing new money until the short interest is below 1%"
Not wrong to invest if short is under 1% but will be a big mistake to wait for short to fall from 2% to 1%. Biggest gain arises from short squeeze.
Of course Darktrace was confident that their account was clear, otherwise they wouldn't have appointed EY. I can never understand why the shorters would want to make such risky bet. They mustn't be allowed to run amok if we want a healthy stock market, hope that teaches them a lesson.