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The SP came crashing down 10% this afternoon after these 1000 trades were placed. Up until then it had been more or less holding its own.
Not my words but the FCA's
"The following behaviours are, in the opinion of the FCA , market abuse (manipulating transactions) involving securing the price of a qualifying investment:"
"3) entering small orders into an electronic trading system, at prices which are higher than the previous bid or lower than the previous offer, in order to move the price of the qualifying investment, other than for legitimate reasons;"
@johnnychainlocker
1310 trades and around 1000 of them were the ones I'm talking about. All tiny trades entered at the same time on two occasions. Over 100,000 more shares bought than sold but the SP crashes by 10%???? Something doesn't add up here.
# Trades 1,310
Vol. Sold 1,089,346
Sold Value £273.26k
Vol. Bought 1,208,070
Bought Value £308.43k
From the FCA website
"The following behaviours are, in the opinion of the FCA , market abuse (manipulating transactions) involving securing the price of a qualifying investment:"
"3) entering small orders into an electronic trading system, at prices which are higher than the previous bid or lower than the previous offer, in order to move the price of the qualifying investment, other than for legitimate reasons;"
Thts exactly what's been happening with Superdry and several occasions.
@johnnychainlocker
If you look at the London Stock Exchange site there were nearly 500 tiny trades pushed through at 1534 and this sent the SP crashing down. The same happened earlier in the day at 1224. It's pure manipulation.
https://www.londonstockexchange.com/stock/SDRY/superdry-plc/company-page
Once again today many more shares bought than sold and once again the SP is attacked by hundreds of tiny off book trades all being reported at the same time that brings the SP crashing. This happened today twice at 1224 and again at 1534.
Is this even legal?
@bucketman
Do you just like the sound of your own voice? Nothing has changed. JD said he wants to take the company private and he's been given until 5pm on the 29th March to put his offer in. The SP is sliding south on no news. You know as well as I do that as soon as a positive update is released then this will rocket back up. Don't be greedy with your short no one knows when the first offer will drop.
Tik tok.
@coxon
GSA only have a small short position here with Superdry (0.79%) and to be honest looking at their current and historical positions I think I'd do a better job. Half of their current positions are underwater and some of their historical ones are shocking. In particular they shorted Cab Payments on 1st of November at 61p just after they issued a profit warning. It's currently £1.03! The reason this one sticks out to me is that I went long on CABP around the same time and made a small fortune when I rode the wave back up and sold at 96p!
I find it interesting that large holders keep topping up and buying more shares but more interesting that none of the big boys have opened any shorts on Superdry. The city boys and hedge funds can smell blood a mile off but apart from one small short that's been open for ages by Gsa Capital Partners Llp nobody is touching it. I wonder why that is? Seems the only people going short on this are PI's on IG and we all know they lose money 70% of the time.
Not long to wait now the first offer could drop at any time.
Tik tok.
Don't Seagull still hold about 2%? I thought they sold about half of their holding when they made their 200%. Nice RNS this morning though. Large holder still buying shares? That'll do nicely.
The board would have to ask the Takeover Panel. If JD was involved himself as CEO then that's a great sign because he'd have to disclose fully were he was up to with his sponsors and the likely timescale for his bid to come in. If the bid wasn't still on then there'd be no extension. Patience is the key here. Relax, sit back and wait for the first bid to drop.
@Deano
Superdry didn't grant JD an extension. Superdry has to seek permission from The Takeover Panel for an extension. An extension will then only be given by The Takeover Panel where :
A) negotiations between JD and Supwrdry are disclosed AND
B) anticipated timeframe for an offer to come in are disclosed.
Only then will The Takeover Panel make a decision as to grant an extension or not.
I'll also repeat the following. The Takeover Panel is there to regulate takeovers and mergers.. The Code is designed principally to ensure that shareholders in an offeree company are treated fairly.
Hope that explains things.
@bucketman
What part of my last post isn't 100% correct?
We are in a bid situation and JD is working hard to get an offer in by 5pm on March 29th. He's been given a time extension by The Takeover Panel only after Superdry has had to disclose negotiations between JD and themselves and the likely timeframe for the offer to be made by JD.
The Takeover Panel acts on behalf of shareholders and is bound by hundreds of strict rules. If they grant a time extension it's because a bid is being worked on and is likely. Dont just believe me learn about the code yourself.
https://code.thetakeoverpanel.org.uk/tp
Bucketman are you on drugs?
Nobody is "trying to cling to that hope of a mass turnaround". We are currently in a "bid situation" at the moment. When the CEO announced he wanted to take the company private he was given until March 1st to make an offer. When he couldn't get the deal over the line by March 1st Superdry requested an extension from The Takeover Panel under rule 2.6c of the takeover code. This was granted so he now has until 5.00 p.m. on 29 March to make an offer. The Takeover Panel will only grant an extension once they are made aware of negotiations and likely timeframe for the offer to come in. The Panel doesn't just extend it for a laugh.
10p tomorrow?
Like your prediction of HZM whilst at 12p "This is going to rocket to 18p now". Currently 3.5p
Or like your prediction for COPL that it was "Worth buying chunks down here under placing price will likely see a whopping % return". Yeah whopping return it's currently suspended!!!
Or possibly could it be like your prediction for SED only a couple of weeks ago. "That’s it now watch this rocket". "Hearing a deal is on the way by word on the street". Shares currently suspended!
Jeez I had a little snooze after the close and then woke to an after hours RNS thinking it was gonna be the BIG announcement! Don't do that to me lol. So they're negotiating a new overdraft? No biggie it doesn't change a thing regarding the takeover. If they were flooded with spare cash and didn't need to borrow any money the market cap wouldn't be £30m. As you were.