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We should keep an eye on after market trades reported. I think some II's have gobbled up the Polar shares, as with such a wide spread it looks like MMs are detering buyers, but why would they do that is they are sitting on a pile of shares. Poss my naivety in understanding these matters, but as stated below Polar have definitely caught their c0c-k in the mousetrap
If you look at the Shorts Position tab it looks like Armistice Capital Llc decreased their shorting position on 12 Feb, I think that's a good sign. I hope I haven't got that statement wrong and the smarts amongst you all can correct me please if I have blundered
Looks like a lot of buying here today on the hefty Unknown trades as ratio of buys to sells is weighted to buys (being posted late). Someone is snapping up the overhang from the recent days IMHO.
Happy to be corrected as I ain't Warren Buffet, I'm more a sausage rolls and crisps buffet :)
If the TR1 is Polar again then I think they must be in some sort of pickle. If it's another big holder I'd have to say what the heck do they know that the rest of us don't....?
Polar might have had to reduce. I'm not saying there are a distressed seller but this link has some interesting points:
https://www.polarcapital.co.uk/gb/individual/Results-September-2023/
It was from Sep 2023 but they might still be feeling some heat and wanting to seize on quick gains:
"The past six months have been a challenging period for equity markets driven by a volatile macro environment. Like many of our peers, Polar Capital has not been immune from these challenges, but net outflows as a percentage of opening AuM have been relatively modest, and in fact, have materially slowed vs the prior comparable period."
Very short-sighted move though IMHO