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Shorts closing or new investors taking stakes? There was a suggestion 10-20% of share was still sorted.
Could this shoot up to 40p? It over doubled last time they thought the share was about to bounce. 25-60p.
I think most selling here are done. Now it's the race to see who can close short positions first. At some point the broker suggesting only 133m revenue for year will raise this and the target revenue for year could be 150m. Unlikely?
Sooner or later IQE will get it right and this could rocket in next few years. Right management now.
Sadly at present I think IQE are trading as expected. So results maybe as late as May. They need to increase revenue to meet current broker figures. 115-52=63m. I would expect a min of 63m for H1. I do think Gan sales will help H2. 146m is average broker target for the year. They have ditched 3/6 of their brokers. In fact not had a broker report in over 12 months.
Price lowered so funds can swap shares. Then price back to 24p market value IQE suggested before the share issue. See if Citigroup hold the share now. Not expecting a TU in March. Last year should of been a one off.
As expected the SP has dropped allowing Citigroup ? to clear? 25m is about 2.5% of shares. Of course we know Richard Griffiths has a lot of loaned out shares too. Not ruling that out. See what RNS follows on Monday. My gut was Citigroup bought the shares to sell on as Invesco wanted out.
If this is about the AMS news then SP will stay at 20-21p. Otherwise I expect the funds backing IQE to buy up shares at this price.
Looks like the fall is related to AMS. Have Apple ditched a major project?
https://bnnbreaking.com/finance-nav/stock-markets/ams-osram-shares-tumble-45-after-apple-allegedly-cancels-micro-led-project-impacting-future-plans
FT site has Citigroup at 4.15% as of 9th Feb 2024. Which is much lower than the RNS a few days earlier. I always think funds postion the % so it's always just above or below where they next want to move. Maybe they will sell out completely. My guess if they would want to go below 3% in one move if they are selling up. Which could also explain slight drop in the SP here. I do wonder who has been mopping up the Citigroup and the small sale of Canaccord shares? Perhaps multiple funds taking on some risk here.
My opinion is the sp dropped to 20p to allow volume trades. Both Citigroup and Canaccord took on shares likely knowing some would be sold on. Invesco likely threatened to dump the shares. Citigroup may now keep the 4-5% holding they have. Otherwise looking for a buyer. Overall there seems to be a positive vibe. Think IQE value share at 24p. Funds merely keeping it there for now. Pretty sure more good news will follow as year goes on.
Canaccord have recently sold 8.5m shares between 22nd/31st Jan. Likely citi and them bought out Invesco and sold on shares to stop Invesco dumping shares on market. Citi may now keep the 5% left. Think funds are buying here still. The expectation of future good news
Https://www.iqep.com/investors/major-shareholders/
Will be from end of month. Citigroup the big new addition. Not sure if M and G investments were there before.
Volumes have been good at 20p. 3.75m last 2 days in large trades. 2x1m and 1x 1.75m. shows funds happily trading at 20p. Marlborough and Canaccord are same group. Just different parts of group holding the shares.
Griffiths has larger holding but pretty much loaned half of it out last week. Think Citigroup will clear. Look for more late trades appearing tomorrow am. Albeit very quiet today.
If you look on ADVFN someone there met the CEO who was super positive about IQE. How well it had done since new CEO. Likely lots of conversations being had in background. See what the American market brings for GAN. Real chance this share could rebound pending good news.
Not too happy about them diluting shares today. Issuing shares when bo money is being made.