Free float27 Feb 2020 07:31
How much free float is there realistically?
Shares in issue 379m - 49% (185.71m ) held by one company leaving 193.29m
How many of those share are held by investment groups and PIs?
Now my question if if you owned at £1 or 70p before suspension what are the chances they still hold now? Extremely high, as most will not have sold and will be averaging down heavily, so more shares tied up until they achieve an average were they break even or can sell at a minimal loss.
There is a strong case for this to re-rate to the 35-40p range, will it happen over night or this week, possibly, possibly not but I am seeing the perfect storm brewing.
Now how many of those remaining shares changed hand yesterday, stop losses, buyers, sellers profit takers. Can personally see this rallying this today, a easy way for the MM to trade stock will be to let this go release profit takers and feed the new buyers or existing PIs that are averaging down.
Good luck if your holding can defiantly seeing this share being very, very interesting over the next few days, weeks and months until it finally finds its level.
I know I have mentioned it a lot but in my opinion the markets got this completely wrong a complete OTT market reaction which now needs correcting - plus PIs like seeing the blue percentage increase ticking up and we will be highlighted on the leader-board from the off IMO - GLA