If you would like to ask our webinar guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund a question please submit them here.
Must be close to another 50 grands worth of buys here, barely a sell yet they've dropped the bid further. Do contact the board folks. It makes a mockery of the market toying with company valuations in such a way.
02-Feb-24 10:03:57 19.8708 50,264 Buy* 19.68 19.88 9,988 O
02-Feb-24 09:48:44 19.80 20,018 Buy* 19.68 19.88 3,964 O
02-Feb-24 09:44:44 19.768 3,208 Sell* 19.68 19.88 634.16 O
02-Feb-24 09:43:07 19.80 3,992 Buy* 19.68 19.88 790.42 O
02-Feb-24 09:33:58 19.88 10,000 Buy* 19.68 19.88 1,988 A
02-Feb-24 09:29:39 19.80 10,075 Buy* 19.68 19.88 1,995 O
02-Feb-24 09:23:18 19.82 50,000 Buy* 19.68 19.88 9,910 O
02-Feb-24 09:23:10 19.8198 50,000 Buy* 19.68 19.88 9,910 O
02-Feb-24 09:20:04 19.87 382 Buy* 19.68 19.88 75.90 O
02-Feb-24 09:16:45 19.82 12,550 Buy* 19.68 19.88 2,487 O
02-Feb-24 09:13:32 19.80 27,641 Buy* 19.68 19.84 5,473 O
02-Feb-24 09:06:31 19.8486 10,076 Buy* 19.68 19.88 2,000 O
02-Feb-24 09:05:43 19.88 40 Buy* 19.70 19.88 7.95 O
02-Feb-24 09:05:43 19.88 120 Buy* 19.70 19.88 23.86 O
02-Feb-24 09:05:43 20.40 100 Buy* 19.70 19.88 20.40 O
02-Feb-24 09:05:43 20.40 303 Buy* 19.70 19.88 61.81 O
02-Feb-24 09:05:43 19.88 8,229 Buy* 19.68 19.88 1,636
End of the day the market should move on buys vs sells, ALL has seen very strong buying the past few sessions. Particularly yesterday. At the end of trading the MMs began moving the price up and as this happend the day ending with £30ks worth of buying. That should have solidifed the price for a strong opening today.
But instead, they decided to drop the price back under 20p on nothing in comparison to all the buys yesterday. Now that it's dropped sub 20p again you can observe buys that are significantly higher in value than the sells they used to knock the price down. Yet they're keeping the price fixed here. Therefore its stock price manipulation.
I think I'll send over a detailed break down of this to the board, as well as examples of not reporting particular buys from the MMs. I have example of a £20,000 buy from myself that wasn't printed. It's then up to them whether or not they analyse how the companies value is being negatively impacted by this manipulation. I'm sure they won't be happy as it leaves it prone to hostile moves such as we're seeing from Assore. Hopefully they take it to the FCA.
I can't believe how crooked the MMs are with this stock keeping it under 20p!
For example these were the buys that came in at the end of trading yesterday and sent the ask to over 20.40.
1-Feb-24 16:18:49 20.406 98,010 Buy* 19.90 20.45 20.00k O
01-Feb-24 16:16:31 20.362 24,555 Buy* 19.90 20.45 5,000 O
01-Feb-24 16:16:00 20.3125 24,615 Buy* 19.90 20.45 5,000 O
01-Feb-24 16:13:13 20.3125 1,014 Buy* 19.90 20.45 205.97
Then this morning they took it down on essentially tiny auto trades. I also have examples of buys not being printed.
So it's clear as day stock manipulation and supression but they're not doing a good job at masking it.
Reason not the buy here: there's a gap at 0.35 the mm wants to fill.
- Rejection of two conditional and non-binding offers from the Company's largest shareholder Assore International Holdings Limited ("Assore") to acquire all the shares in the Company that it does not already own at an offer price of £0.33 per share (A$0.63); offers rejected on the basis that they undervalued the Company and that they were not in the best interests of shareholders.
- Largest shareholder Assore increased its stake in the Company to 28.4% through the purchase of shares from strategic funding partner Piedmont at a premium to the current share price.
Ratified, offtake, updated upgrade resource, commence of the build, further offers all to come.
Very good buying today. Perhaps we see an offer from Assore next week testing the board resolve at 40p considering they know the 30s has been rejected not once but twice. Clearly they're still keen given the recent stake build to over 28%.
Made easier as there are big buyers accumulating.
Whether a leak or new major buyers either will firmly place the business at a fairer value which is closer to the 50p mark in my view.
These buy are big, several 200k, 300k etc.. I guess we'll see this kind of accumulation over the coming days and weeks before buyout news drop. Hope to see the SP settle back to 20 to 25p at least beforehand. Then the 30s should come.
Can't remember the name but I recall there was a company early 2023 or 2022 that recieved a bid at over a 200% premium to the share price at the time...
"The Board of musicMagpie notes the recent speculation and confirms it is in early-stage discussions with both BT Group plc and Aurelius Group (together "the Parties") as to a possible offer to acquire the entire issued and to be issued share capital of musicMagpie."
BT Group = £11.40billion market cap.
A £100mil takeover of MMAG would be peanuts for a similar player.
£100mil roughly share price is 90-95p.
Therefore I envision bids coming in beginning around the 35p region, rejected and then 50p which may go through. But fair value is 90p+
Great opportunity here. I've been trawling through the website today and they offer some great consumer tech. No wonder it's had a decent 2023 despite when inflation was over 10% and with rising rates.
https://www.musicmagpie.co.uk/
A fair takeover price is about £100mil.
Very impressive Trust Pilot score 4.4/5.0 for MMAG vs 4.2/5.0 for CEX.
https://uk.trustpilot.com/review/www.musicmagpie.co.uk
vs
https://uk.trustpilot.com/review/webuy.com
It speaks volumes about the business considering the usual word of mouth you get for businesses like these.
Frustrating price action here. I'm glad I can top up MMAG at 11p which has 11-12 times the revenues to market cap and is a growing business with a takeover on the cards. November 2023 BT group wanted to buy it - see RNS. Looking forward to seeing that back to 50p and BOO back to 100p.