A rambling summer story...18 Aug 2017 22:23
... in the early part of June when the days were long and rolled beneath a deep blue sky, Feedback stood tall and strong at 3.75p - 4p. Black clouds were forming however and a thunderstorm struck on 29th June. Storm Trevor hit with 11.635 million shares falling like raindrops and by the end of the day the price rested at 2.75p - 3p. At no point since that day has the price been that high. Any of those raindrop shares released by MM's to the market since then have been released without profit. So far, so miserable but I can live with that. Of course prices dip when the market is flooded.
2.75p - 3p is more or less where we were stranded throughout July. Then on 1st August it all went a bit weird. For no apparent reason the MM's decided to push down further. 3.2 million shares got traded that day (but mostly after the price was lowered) and the share price ended 2.28p - 2.3p. Another 3.4 million were traded the very next day as buyers appeared but to no measurable effect on the price. And here we are still at similar prices in the middle of August.
What puzzles me is that most days since 1st / 2nd August so few shares are traded down at these prices. This price drop did not occur because of any major selling and neither is it producing any major selling (yet). Most days shares traded are well under a million and even an exceptional day such as last Tuesday only produced 1.8 million shares traded.
I dare say that a small handful of us posters could rustle up far more shares than are daily traded and yet we've seen the price fall from 3.75p - 4p in June to 2.3p - 2.335p in August with most days made up of minimal trading.
The MM's have deliberately manipulated this fall in price in my view. The big question is why? They don't appear to want sellers as the on line sell quotes are nearly always for small amounts only but they appear to have a reasonable amount to sell as I can normally get a quote for 250k and above. (NMS is 75k so they don't have to quote above that). So this all leads me to believe they are trying to get rid of the remainder of Trevor's shares at whatever they can fetch for some reason. Perhaps they have been warned to get their books balanced and are now trying to do so. Anyway, I remain perplexed by it all and just wanted to get it all written down and read by you chaps in the hope that one of you can shine a light on this quandary of mine. Is it all just about book balancing or do any of you have better, more exotic ideas?
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