Price drop15 Sep 2015 18:43
I rarely post here now, this board used to be a great forum for sharing information and stood out for its friendliness but this has changed.I have been here since the price was 11p and have bought and sold some from time to time so that I am not too distressed about the price now. It is much harder for those who bought on the fundamentals when the price was reflecting the value of the company and it is distressing to see people panicked into losing money by the manipulations that take place here.The shorting hedge funds and de-rampers have been successful in driving the price down and the market makers widening the spread and diving the price to take out stop-losses (as was questioned by a poster today) make it very difficult to tell sales from purchases, on AIM this is not in any way a reliable way to help decide whether to hold or sell.
There has been talk of iis selling over the last few weeks and whilst there may have been some there have been no rns disclosures of major interests in shares since 13th August and previously to that in early July when Standard Chartered reduced their holdings, though they still hold 4.86% of GBO shares. As of today nine institutional investors hold about a third of Globo shares; they include Blackrock, Huxley, KBC and Norges Bank and none of these show signs of selling. The directors hold about 18% so about half of all Globo shares are not moving which makes it easier for the market to be manipulated by anyone who controls a large enough number of shares. The last trading update that we had made clear that the outstanding progress the company has been making has continued and the combination of international economic worries has made it easier for those who have an interest in driving the price to suit themselves to be quite spectacularly successful this time, the hedge funds have been having a hard time in getting the share back to where they last bought at about 33p until recently. They have now reached a point where they can buy out at a profit after returning the shares they borrowed and may well do so before the results on 29th September.