liquidty and sells?28 Nov 2019 09:07
ok so this might not be popular, or even correct but I have a take on this based on being in this share for 12 months.
What we have seen since April is large holders wishing to bank profits from early stage investments in this company. We saw Spreadex look to exit and that took them all summer and now I suspect CLI are looking to do the same. They cant do this without volume as they have millions of shares to offload and, they have already made multiples on investment so why hang in there and hope for 100-200% rise when they can sell down. the would need to off load 5.6m to even report a 1% reduction in holding (if it is them of course).
The pattern over the past few months has always been the same ..SP rises then block sells dependant on volumes. This , sadly is what appears to be happening here again. Of course they don't want to crash the price but still need to move shares when the opportunity arises. Spreadex did this with block sells of pitiful amounts throughout the summer, carefully controlling it and allowing the SP to raise on news before re-starting. Yesterdays delayed reporting was exactly what I should have expected but even I ignored the signs.... I cant see the SP crashing but I can see it grinding away on the volumes and then repeating heavy selling on any significant rises. Just my opinion but if you look at the chart and volumes over the last six months you may be able to see what I mean.. GLA