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Based on discussions at the AGM early this year the company were unhappy with the performance of their previous broker and were going to undertake a beauty parade of new brokers over the summer. They said it wasn't a huge priority for them but good to see they've made a decision who to move forward with and fingers crossed their client-base are interested in the company, either from a funds investments perspective or buying shares on the open market.
BTW - as we look forward into next year I would 100% recommend ANY Alpha shareholders to attend the AGM. It was a hugely useful source of information and gave great access to the Board and their Advisors.
Looks like the company has launched a site for the Interval Fund announced in September: https://funds.alphagrowthmgt.com/
ALGW Investor Relations confirmed yesterday that both Alpha and the seller are still working closely with the regulator but that they work at their own pace.
Interesting they confirmed that the economics of the deal are based on a July 2022 sign off hence both parties already starting transition. I take this to mean that the revenue is already flowing into Alpha’s coffers so very good news for us.
Hey John. Nice. I'm confident you will be well rewarded.
No, nothing that formal. This is just a list penny stock traders have put together over the years. I don't believe there's much if any truth in them but for me they are an amusing distraction whilst we are waiting for the buying to kick in:
1. 100 - I need Shares.
2. 200 - I need Shares badly but do not take the stock down.
3. 300 - Take (or I am taking) the stock down at least 30% so I can load shares.
4. 400 - Keep trading it sideways.
5. 500 - Gap the stock. Gap can be up or down, depending on direction of 500 signal.
6. 505 - I am short on shares
7. 600 - Apply resistance at the ASK to keep the price from increasing.
8. 700 - Move the price up.
9. 777 - Also recognized as a signal to move the price up.
10. 800 - Prepare for an increase in trading volume.
11. 900 - Allow the stock to float and trade freely.
12. 911 - Pending News/Press Release On The Way
13. 1000 - Don't let it run
14. 2100 - Let it run
MM codes for those who believe in reading tea leaves:
200 – I Need Shares Badly But Do Not Take The Stock Down.
300 – Take (Or I Am Taking) The Stock Down At Least 30% So I Can Load Shares.
Any kind of buying pressure today and I think we'll attempt 3.5p.
Wow - certainly didn’t expect that news to land today. There’s been talk of a much more accessible fund for a while now but it always sounded like it was a while away. Great news and opens up Alpha to a whole new segment of investors. Not surprised they’ve already seen $7.2m flow in.
Obviously a shame we’re still waiting for the regulatory sign off of the acquisition but both parties have already started transition so they know it’s just a tick in a box.
And we still have two large news releases to come!
1.1M bought already. Wonder if we'll see a steady rise today ahead of the long weekend as FOMO builds? Either way solid money coming in ahead of the two announcements. Wouldn't be surprised to see the first land on Tuesday with the second following the week after.
Wonder if we'll see a nice post lunch treeshake to part a few "traders" and their shares. Not going to get the MMs the volumes they need I'm afraid :)
Also looks like we've regained our trading "bot". Not seen him around for a good while.
“We expect to announce a significant development within our Fund management business within the month.
I also look forward to positively updating investors on our Guernsey acquisition by the end of this month."
Danny’s role was mainly focussed around landing the RCF and bringing in large packets of policies. Now that approach is off the table it makes sense that GS keeps the company structure lean.
Chad looks like a exciting appointment given his strong track record managing and growing life settlement funds.
Going to be a busy month!
I think we will have to be patient a little longer given holiday season and general market sentiment.
However I’m very confident we will all be very well rewarded here and am glad I’ve added more over the last couple of months. I expect to see a string of announcements from September onwards.
It’s possible but that’s not my reading of the share price movements. The stock is still too illiquid and the spread too wide for it to be of any interest for day traders in my view.
What I see is one or two sellers getting out (presumably) for a loss, either because they’ve lost patience or confidence or want to use funds elsewhere, then the shares being bought up. I know whose hands some of them have gone into and they’re long term holders not day traders.
Meanwhile we wait. That’s what we do. Tick followed tock followed tick followed tock followed tick.