Member Info for FreeTheCaterham7

I would think that someone put a GTC order on the book in the days when selling at 140 was a realistic hope, so it 's visible every morning until a lower offer undercuts it?

" the sp won't rerate until polygon have finished loading up"

Why would that happen? Usually if a buyer stops buying the opposite happens.

Pretty much all of what carsgeek said.

"institutional investors are probably buying in. Doubt they buy large amounts the way us PI’s do"

Serious secondary market buying from institutions would surely dwarf private investors’ influence?

Sure, for some people. I’m still in in my small way. But it worries me when people say things like "Why would you ever want to be out of this". It sometimes looks as though they haven’t considered the downside properly. It’s the kind of thinking that can get people in a mess.

The reason you might want to be out of it is that it is a massive gamble at any level.

They don't seem terribly up to date

Get well buddy

If market maker has taken on a trade, it can make sense to talk about buys/sells. I doubt if a MM has taken an a trade in that size at the market level. These trades are both buys and sells that youe wouldn't necessarily expect to move the market.

Theres a cancellation of an 850k trade

The price they have paid is sunk cost. It’s irrelevant. If they are economically rational they will not take it into account when deciding what to do with their position.

"TLW.... Yes.. Like any Business or Private investor you can offset your losses against your profits.
So assuming Polar have made a profit on other investments they can deduct the loss and
just pay tax on the difference, so in effect they erase their loss."

No.

" My own guess is that they are still hopeful for ACTIV or future trials for SNG001, so are bringing their average down very cheaply"

They don’t care what their average is.
If they are buying stock now, it’s because they think it’s a good investment at these levels. What they have paid for stock in the past is not relevant.

"hold for ACTIV2 and if that doesn’t work then potentially the next five to ten years for a takeover."
I really don't see Polygon tying up money here for 5+ years in the hope of a takeover.

"If a bid is made, 90% of shareholders have to accept it."
50.00001% for control, of which Poly own half. 90% allows them to sweep up anyone holding out.

Unless there's another buyer around, I would assume that the stock has ended up with Polygon.
And yes, they have taken a material hit.

Although I'm prolly wrong to assume that....they've just gone below the reportable level haven't they

Lots of stock around?

There's no need to be rude. The fact that you guessed correctly about Polygon adding is unconnected to your misapprehension that the MMs (in concert?) will somehow lower the price to facilitate a customer's buy order.

More likely Polar kept stuffing the market, knocking it lower until Polygon reckoned they were at a level where they fancied adding.

Nice to know that at least one seller is finished though.

"yet again they dropped it so Polygon/Tetragon can increase"

I cannot emphasise enough, this is not how it works.