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I don’t, I can’t as I’m not an MM. But it’s bizarre that price was held in a rigid band, that a 5m buy came through that had zero impact on share price (it even opened at 180 today, though not for long), and that the buy point was below mid market such that all PI buys got marked as sells.
@hewhodares
Mere dillution would see price swing more freely. This was tightly controlled. You’d never see this happen at the FTSE100 after a rights issue. The market is too thick for this kind of price floor and ceiling.
There is a piece missing in this puzzle.
You’re absolutely right that this was more of price floor rather than a price ceiling. Or was there?
Facts:
- Price floor at 186 for sells
- General price ceiling at 186.x for buys
- Low open that quickly rises to 186 (same today btw)
- ALL PI buys during the day marked as sells
What do these add up to?
...was actually a transfer. It wasn’t a huge buy soaking up all those sales — Many of those “sales” were actually buys, including mine. That means MMs were marking all of the buys as sales, then put a huge purchase through.
Why is that?
A few hypotheses:
1) MMs has received the 5m buy order and marked buys as sells to encourage PIs to sell (is that even legal? If not, should we go to LSE?)
2) MMs marked buys as sells bc they were selling shares from their arsenal / Numi’s arsenal
3) ?
To be safe: there is no scenario where MMs marked buys as sells bc they were shorting the stock, right? That seems crazy to me at this point. Anyone w two brain cells would be building to a stockpile.
Look, I get it, we all want more shares. OF COURSE I want the price to drop to 175p — my 1:37 offer rights are far measlier than I had thought they’d be. I regret not buying more at 139 every. single. day.
But it’s disingenuous to post nonsense in the hope of scaring others. It’s also not the least bit credible.
Is the premium chat any better?
Does anyone here have a premium account and can speak to whether there are higher quality (less trolling) SNG posts on premium, or is it the same as here?
Wondering whether it’s worth having one.
Thanks!
Based on previous experience I think if I sold all my shares I would lose the rights, but I could be wrong.
In the past I was afraid to touch the shares until rights were issued, except once where I sold anyway and I think I lost the rights for all except the few I retained. But memory isn’t 100% on this.