Arguably, what’s the downside now? Can’t see it any lower. There’s no bad news that could take it lower. Only potentially good news and that could bag it on a 6 pence
But also it’s not 61m shares the £2.5m is 25m plus the retail so a few more 27.5m roughly
What will be most interesting is to find out who took all those shares. I think it will be institutions who have no interest in selling anywhere near 10p
Why do I think that?
Simply because the volume here isn’t enough to flip out so anyone buying was buying for the story not the trade
£2.5m is a lot - and consider - hardly any discount. I really think we’ve got some serious investors or pharma guys taking a calculated punt here
Would love it if the whole £2.5m was taken by a handful of investors/institutions