Member Info for giantsquid

Overhang should be gone if it isn't this week it'll be sometime early next week imo. It sounds a lot but it won't take long to clear that.

On 1st June 2020, GIC held 61,682,243 shares (4.50% of the total number of shares in issue)
Their holding is now below 3% which is a reduction of more than - 1.5% (of the total number of shares in issue)
which is around 20,579,545 shares, bringing their new total holding to around 41m shares.

So there is definitely a stock overhang and that'll be why the sp is being held back. The overhang is around 20m shares and I'm guessing it'll take around 7 to 10 trading days to clear through.

Once it's cleared, the sp will likely jump, sharply - especially considering the recent news.

Bear with me.. that's not right...

tomahawk, the figure on the RNS you're referring to, that of; 1,371,969,710 is the total number of shares in issue.
On the 1st June 2020, GIC held 61,682,243 shares, which represented 4.50% of the total shares issued.
Their holding is now below 3% ; which is a reduction of more than - 1.5% which works out at around 1m shares
bringing their total holding to around 60,757,009 shares (approx)

If there is any overhang remaining, it's a small one and will clear imminently.

https://www.marketscreener.com/CINEWORLD-GROUP-PLC-9590220/company/

appollo, it's most likely a stock overhang due to GIC reducing their holding (see last holdings RNS). Doesnt matter what the Dow is doing, what the FTSE is doing, or how many buys v sells; MMs won't let it go until the overhang has been sold into the market. The good news is buys once again significantly outweighed sells so it shouldn't take too many more days like today for that overhang to disappear and the sp to shoot back up. We've had 2 positive RNSs recently - the opening dates and the news regarding Cineplex and so far the sp hasn't responded. But once the brakes are taken off, I think the sp may well jump - sharply.

I wouldn't worry about the OTC markets. They're notorious for low volumes and liquidity issues making selling difficult, and huge spreads which causes the price you see on your screen to jump around from one extreme to the other. A lot of people think of the OTC markets as just small crappy companies but actually some of the world's biggest and wealthiest companies are listed on OTC including the world's biggest bank, Industrial and commercial bank of China which has a $1.84 trillion market cap. There are various cost savings to be had and less regulation which apparently makes them attractive to many of the world's biggest corporations. But from a PI perspective, most investors agree they suck and a lot of brokers don't touch them anyway which only adds to the difficulty buying and selling, hence low trading volumes. Apparently Warren Buffet was a huge fan of trading the OTC markets in his early days however, he stated big money could be made as companies there are often neglected and its easy for market valuation to drift significantly below asset value. But I think he was in the minority, apart from perhaps II's buying shares there, very few PIs ever bother with them. They're a really poor reflection of what's happening on the major exchanges - what's happening on the OTCs doesn't in any way indicate what may or may not happen on the FTSE for example. Ignore them.

My advice, avoid the cheltenham area unless your a duck or a fish. Roads like rivers, thunder and lightning, fire engines screaming down the road. Not good.

90p will be gone a lot quicker than a month or two - I still say the recent holdings RNS has something to do with the sp being held back last few days. There's a small stock overhang to clear which with volume being so high will be sold into the market in no time, then it'll power back up.

On 15th June the holdings RNS said GIC had reduced their holding a bit, so perhaps there's a stock overhang that needs to clear? It certainly seems that way because yesterday there was no reason why we didn't move a lot higher than we did. And the FTSE is up again today as well. At least daily volume is always huge here so any overhang shouldn't take long to clear. Then we'll start moving up with pace again.

Dow futures now up over +850 pts

http://www.breakingthenews.net/news/details/52430729

https://www.marketwatch.com/story/dow-futures-jump-400-points-as-trump-seen-weighing-1-trillion-stimulus-investors-await-powell-testimony-2020-06-16

Read it again Nickel investor. The Times do not say "avoid" they merely reiterate what we already know.

https://www.ft.com/content/d4374d4a-a4e4-4ef7-b2aa-0dc3b2a7e891

90p this afternoon? Strong afternoon coming imv 80s won't be here much longer..

"Stock market rally is back with a vengeance"

https://www.forbes.com/sites/naeemaslam/2020/06/16/dow-jones-futures-sp500-stocks-soar/

Sorry, that's : @MahyarTousi

It's only just breaking, go on twitter: @MayharTousi

Mass protests involving more than 6 people have been made illegal. Every person caught breaking the law will be arrested on the spot. Every Labour MP nodded the law through. Watch now as BLM and ANTIFA turn on the Labour Party! Law and order has been restored.

I'm guessing they've raised their target because of the Cineplex deal not going ahead? Just shows how much it was weighing the price down. Peel see it as a lightening of the load - from lead balloon to helium filled balloon (up, up and away)

"Dow and S&P 500 staging powerful Monday reversal and are aiming for biggest U-turn into positive territory in 3 months"

http://www.marketwatch.com/story/dow-and-sp-500-staging-powerful-monday-reversal-and-are-aiming-for-biggest-u-turn-into-positive-territory-in-3-months-2020-06-15

Dow is moving sharply higher...