@glide - that's an internet myth I believe. Age does not detract from their growth and fertility, but eventually the level of energy required to successfully molt is insufficient to size, which kills them, so they do die of 'old age'. Highest recorded age of male lobsters is in the 30s, but 50s for females.
Why would they bother to actively pick up stop losses when they know they have a broker ready to drip feed at around 2p anyway? The small drop coincided with the talk around seadrill, which may have got a few punters nervous about a dip (or saw it as as opp to buy in cheaper). We've been in a channel of 1.90-2.10 with the same 5% spread for the past 6 weeks since the open offer / placing price was set. The low volumes suggest that the natural PI base for bpc is out of ammo. As others have said, it's going to require significant or regular news flow to squeeze the coffers of these PIs still further or to attract new punters. Patience required (and fingers crossed).
Whilst any such announcement would create a small spike in the SP, the price will gravitate back towards 2p as long as the placing ovehang remains. Volumes are quite low, and whilst I haven't the foggiest on what sort of volume has been shifted to date, I'd take a call on this been relatively flat up to xmas. Traditionally, all shares get a little frothy late Dec/early Jan, so that could be take off time.
what's holding this up is quite simple: they still have a shed load of shares to off-load following the placing with the bucket-shops. This will move eventually, but will be range-bound until then. Could well be another month or more, who can say.
This bounce around 2.00-2.25, for one reason only: the placing means that there are a **** load more shares that need to be dumped on the market. Given that most of the PIs here bought through the open offer, it's going to take quite a while to sell the remaining 50% to other PIs. That could take a month or more.