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It's one of the shares on SETS that generally has such low volume in the book that it shouldn't be, although much of that can be blamed on the successive dilutions. Because it's on SETS, the MMs don't make the market and generally keep out of the way until they need something, so the market is made by various traders. Curiously, there seems to be a contra-British-Bull trading scheme operating, but that could easily be coincidence. Once the finance is finally sorted out, and it becomes more attractive to real institutional investors, not the ones invented by the placings, it should start behaving properly as a SETS share. Well, I hope so, anyway.
Most of that was outside his control, and I don't think anyone else would have fared any better.
Where HAA irritates me is that indeed the guidance (in particular during last summer) was so misleading as to the timing,
and about the placings. But again I don't see many on AIM that are better in that regard. Some are positively mendacious.
Not necessarily: there was plenty bought in the .5s and .6s, and those that didn't sell on the way up will be trying to get some profit on the way down, especially since tiny A trades are also being used by one party to push the price down quickly. (Another set were fine to move it up.)