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I agree with you Scored, a £12,000 trade is a lot of money to most private investors (inc me) but not to institutional investors wanting to add to or reduce their position. Looking at the trades during the past week or so, I see nothing to get excited or alarmed about. If you look at how the price has moved over the past few months, a rise of 1-3p has been followed by a backward move before going back up again. My guess is that the price will drift down now before going back up again but it won’t be too long before 30p is reached, especially if the next RNS is positive.
I am encouraged by the Chinese now owning a big chunk of shares and by a pipeline that continues to show promise.
All imo of course.
Hello Newbiebuyer. It is not shares sold or up for sale, it is shares traded. An assumption whether a share is bought or sold is based on the price traded. When the bid/offer spread is small, a trade shown as a buy can sometimes be really a sale and vice versa, which can give a false impression.
Not sure what Scored is getting excited about, a 50,000 share trade here is significant but no big deal and not sufficient to query why. If it helps, I have sold 50,000 and bought 50,000 in the last couple of days (moving from Fund & Share account to an ISA) and both transactions have been shown as buys (or sales, can’t recall which!), not one of each.
I have been with AGY for a few years now and am confident the existing pipeline will richly reward existing shareholders.
All imo of course!
My initial reaction too, Warthog4. I’ve been invested in this company for several years and am now down 73% on my investment. I have hung in there because I like the business model and the quality of the major shareholders with Truell (one of the founders) and Odey having had great business success in the past.
I just wish this latest RNS would explain why the business has been lost. I am hoping (and it is a very faint hope!) that this business is unprofitable because the customer refuses to pay a fair price, believing TUNG cannot afford to lose a big chunk of turnover. But now the Directors have realised turnover is vanity and profit is sanity and refuse to accept this business on unfavourable price terms. So the customer goes to a gullible cheaper source where the same problem will surface at a later date. Whatever, for TUNG to get into this situation does not reflect well on the Management.
I also hold shares in QTX who decided to gradually phase out a rapidly growing market sector that refused to pay a fair price for the service value offered. So, over a period of time and before the situation got out of hand, turnover reduced but has been gradually replaced by more profitable business. A brave decision publicly announced with progress updates, giving shareholders confidence in the Company which is performing very well.
Could a similar situation be happening at Tung or is it more likely I will see a pig fly past my window in the morning.
I think you are being a bit harsh Warby100. The reason given for the sale was to help finance a house move, which doesn’t sound too selfish or stupid to me and she still retains a significant number of shares in the company. Of course I’d much rather see a Director buy than sell but in this instance, I am not concerned. Now, if she sells her remaining shareholding next week, that would be a worry!