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I think this means that Worldspread had to close some short positions early dumping a load of shares onto the market hence the drop. This drop is nothing to do with TAN for once though it mights still have some more to run.
Courtesy of Johnnytooslow on iii 'Friday's suspension of shares in Worldspreads (WSPR) had an impact on Tanfield's share price later in the day, as some Worldspreads clients have big positions in TAN, and in some case hold similar big TAN positions in other accounts, which they are having to quickly adjust. It will likely have a further impact on Monday, ahead of Tuesday's expiry of quarterly spreadbets. If anyone here holds TAN bets with both Worldspreads and with IGindex, it might be worth them following this idea posted elsewhere:'
If the SP ever hits this price I will buy every one a drink at the AGM including those two warring fanatics on the iii. My guess is that we have seen the re-trace and it should creep up again this week.
Don't talk to me about pain. I first bought into this muppet of a share in 2008 at 65p in OLD money, i.e £3.25 in today's terms. A massive averaging down operartion placed me back into profit. Today's drop does not bother me though.
I took a risk and bought back in at 53.90- a small loss on the spread but a good move overall. I still do not trust this bunny
http://greenbuildingelements.com/2012/03/07/smith-electric-vehicles-launches-production-of-all-electric-newton-step-van/ . This is incredible news. doh...... £$£"$"£$
My stop loss activated for the full amount at 53 pence; a very slight profit. I have watched these shares trade at a loss for two and a half years and I promised myself I would not let that happen again following this rise. Still, I have not given up hope for Tan and have a rising buy set just in case at 58. As for now, the hype of the IPO seems to have waned hence the drop.
Looks like Snorkel will be hiring more staff this year. The North East really is progressing well. This sudden drop caught everyone yesterday and I think it was down to nervy investor's setting their stops too close to the SP. Mine is a bit further back at 53 at the moment. On another note I had started reading the iii board again but now I see those two are at it again I will give up.
It certainly is interesting at the moment. More so then the previous two years doldrums. There is more to go in this growth spurt. A lot of the price jumps have happened when the American markets open; see yesterday for example, so there is interest over the water. Where will it end, I muse ? AS schlepper states, with Tan, anything is possible.
Saab- good find. With cheaper batteries in the pipeline the product will be more attractive. More reason why we should not be agreeing to an IPO.
I take this with a teeny bit of salt ... anyone remember St Helens Capital and their predictions ?
I have held a long term view that an IPO is not necessary and would not be best for the P.I's in Tanfield. SEV is too good a golden goose to sacrifice for an IPO as it will be 'great little earner' in the medium future. That said, if it does go ahead I can see a price of 75-80p at the low end and £1 tops. We are recreating early 2009 across the market at the moment so the Spring will be good for lots of P.I's.
Its still interesting to remember that TAN also has a presence in China. The coincidences just keep stacking up. I have no evidence of this but I would not be surprised if there was a re-merger / reverse take-over on the cards between these company's in a couple of years time. A very good week for us long term holders. I wonder if Myo is still out there watching ?
I was expecting a retrace but this is something else- over half the week's jump wiped out ! What on earth is going on ?
http://www.dft.gov.uk/news/press-releases/dft-press-20120221/ The good news for Smith's just got a bit better- £7000 per vehicle in fact ! I have looked at the list and have never even heard of the FAAM's or the Mia.
Yup, looks like our cousins across the pond are reading the same things.
I wonder if the American's will start buying into Tan now this news is out ? Here's hoping for a sustained jump to 56 by the end of the week
A couple of 'ifs' and 'shoulds' but overall this is very good news for Tan, providing that when they do declare results, they explain where all the SEV money has gone. Maybe new production equipment ? We never can tell with this lot. By the way, I like the new Smith's logo, very mythic.
Go on Leo, stop being cryptic. A comment like 'were doomed' is not going to make us all take flight, just annoy. P.S The World ends on Friday.
This is excellent news. It effectively drops the price of a new truck by thousands of pounds with no loss for SEV. I personally hope the IPO is put of as SEV is too good to lose.