RE: Big buys - Saudi's accumulating again?25 Nov 2020 10:08
Probably overdone and profit takers will move in but for once we are in a share in a a perfect storm
1. the Saudis will buy but at what Price? They appeared to be about to do so in the high 20s in march when Covid hit .
2. they propped the company up by buying stake in spring when they could have let it wither and pick up for nothing.
3. Company now has a much stronger balance sheet as cheap government loans and have managed to just about weather the covid storm.
4. Vaccination is a big boost and some events beginning to open.
The price will creep up with bouts of profit taking but most of the trades are pretty small as the bulk of the company is held by institutions or the chairman and sooner or later the bid will come and the more the price creeps the sooner this will happen.