RE: ‘Don’t Drill the Wight’ campaign26 Jun 2020 08:20
Big blue day. The warrants were 99.99% forward sold which means the selling pressure has now released so demand is acting against less supply.
Think this will be easily in the 0.4’s today possible attacking 0.5p. It’s market mechanics. Folks asking why this wasn’t 0.5p over past 2 days need to realise that if you have have a sell order in for £400k-£500k of warrant stock, the buys will act against that and not affect the share price. Heavy buying will only act against the share price when that chunk has cleared.
Pre selling placings and warrants is commonplace as the holder doesn’t part with any cash up front. They are essentially short, and the short is settled by return of the shares to the broker by warrant strike or placing admission.