I originally bought in at 130p and have topped up that many times I’ve lost count. Most recent top ups were at 145p following Dr Castro’s last little hint, and then at 171p following the announcement of progression to phase 3 on Activ. I just thought they should have moved to at least £2 due to a big positive shift in the risk/reward ratio.
After the move yesterday, they now account for 20% of my overall portfolio. That is breaking my own rules on single stock exposure but my portfolio is growing rapidly due to extra disposable income to put into my investments on a monthly basis and I have conviction that this is a good stock with great prospects.
I’ve never had a true multi bagger (10x +) and would be over the moon if it was SNG who seem a great bunch and is also a company trying to do good things.
The price should have moved much more positively following now of Activ-2 progression, especially with Polygon now confirmed to have been heavily buying. Deal3r also explained what MM’s do, and I’m aware of some of the things brokers can do to manipulate prices.
I’ll say it again, I’m not concerned at the minute, I am here for the long term and until TO time. But it is healthier to have a diversified set of investors and not one giant holder of the shares.
NDN71, I’m not sure if this is aimed at me or not, but to be clear I have no issue with Polygon owning what they have. But I’d say you don’t want one II owning too much. I’d be happy for them to stop buying now. Already, it looks like they and the MM’s are playing silly buggers with the SP.
Reading the rules, it looks like they have two days to report it? On the form it says they made the trades yesterday, so they could have delayed a bit more. But perhaps chose to let SNG know after market close today, then of course SNG had to post the RNS.
For the more knowledgeable members on here, please let me know if I’ve misinterpreted it.
My gut feeling is that they are simply just building a position because they are confident in the company and think they can make a good turn. As fruitsnveg says, would be nice for a few of them to slug it out and really get this share price motoring.
Certainly don’t want Polygon drop buying all the way up to 30%+ at these levels and then going for a hostile bid backed by a large pharma. At 30% they have to make a bid to remaining shareholders at the highest price paid over the previous year.
I seriously doubt this would happen. But you’d be gutted to have to sell out for circa £2! We ideally want another zero on the end of that.