Member Info for chasf

It's funny: I was mulling over buying the dip, got distracted before deciding, then when I looked back it was back at 2 again. Strange share. It's a little mystery what they're doing with it.

It's also unusual (here) that they are all A trades (direct entries into the book, and strict trades with buyer and seller matched by the exchange computer). The trades were made within seconds of each other so some bots have been busy. There's an option for a trade request to split a single trade into smaller quantities, but those usually end up looking more random between trades.

(Crazy kids!)

Won't be long until the BULLISH HOMING PIGEON is back!

It would be nice if financial deals had a UI component you could watch with the bar sliding towards completion.

Admittedly the trading is tedious. I hope that when an announcement is made they don't convert the warrants during a rise, dampening it.

And yes I think "first cab off the rank" is intended to be positive. It's not "first cab on the rank awaiting a customer" but setting off.

If it were a placing I'd expect them to move it up, not hold it for a month or more round 2p. It's too long for forward-selling anyway. (I suppose if many of your trades aren't yet settled, after 2 days there might be something in it.) I'd wondered whether it might be the warrants, where the broker would be expected not to disrupt the market, but it's been going on far too long. Watching it (too much) I still think it's most likely to be someone's strategy. Because the spread is usually tight, it's hard to trade either with or against it. There's not much activity in the book, which prevents the potential gain from getting the best price.

It always makes me laugh how the 2p matter has got Br Bulls into a manic-depressive mode every few days. Bullish Homing Pigeon now, so there might be a slight tick up in the next few days as the pigeons presumably come home to roost.

You'd expect someone selling would indeed take the highest price if it's moving up and not hold it (and if a broker had agreed 2p for a large sale, you'd expect the broker to sell higher and pocket the difference). This does seem to be putting a cap on it for a large buy at 2p, taking advantage of the low volume on L2. Contractors got their shares in November, and if they were selling I'd assume they were long gone by now, if not forward-sold at the time.

Probably best to wait until the 2p guys are out of the way. The 2 x 5m offers are back again on the Ask at 2 to keep the lid on,
at least until someone with £200k to spare decides to clear them out.

March was just the target (bizarrely sometimes it can be because of someone's financial year). There's nothing to say it can't be done sooner. The HR posting was interesting.

"No alternative than physical gold!"

Have you not seen my new startup for "Plant-based gold"?

2 x 5m on the ask, but if they're also filling large orders at 2 those aren't much use.
I suppose I should get L2trader running again to see if the labels are interesting.

There might be another run down the stack in an hour or so.

"which makes the games being played to hold the share price to 2p all the more difficult to understand imo"

It's indeed a little mystery. Someone on Twitter suggested a mark to market, bit like the old B&B, which might explain the determination, I suppose.

Ah it was the uncrossing trade.

Cleared the ask to 2.15, but now back to normal. ??

Wonder if someone put that 2.20 on the bid by mistake instead of ask. Livened things up.

Although it might seem strange to some that with everything agreed, due diligence completed ok, that it is taking ages to finalise, I'd observe that there tends to be quite a bit of legal work. When I was part of an acquisition, the heads of agreement were agreed by December but the detailed legal work took 3 months.

"It is odd another pretty large buy at 2p after close and share price has been static." Unlike an MM traded share where a big buy by a non-MM would tend to push the price higher as the MM's stock reduced, the price on a share traded using SETS is just the price of the last A trade (which is a strict trade, matching a buyer and seller on price), except for a price set during an auction, which is often the last trade if nothing much happens during the auction (a matched trade in the auction will set the price normally). If the auction is busy with people changing their offers, there's a calculation that's VWAP-like to work out the auction price and those in the auction at that price can get some shares. There was a proper auction earlier in the week (it looks strange on IG, with prices crossing over, things sorted oddly, just strange), probably as busy as I've seen it here during an auction, so perhaps things are getting warmer. Certainly approaching 1630 today there was a lot of activity in the book.