Price Action15 Jun 2020 10:21
Hi all,
I'm a long time observer of the boards but never posted. Thought I would post because no one seems to have mentioned this recently but could the recent price action be simply due to Vatel selling their 811,988 shares?
The share price was holding the £3 level nicely until the last update on 3rd June when I think many PIs started selling expecting Vatel to offload when they got the chance. The price headed south but then stabilised between 230-250p for a few days. Vatel's shares became available to trade from 9th June and we've started dropping further since then despite knowing we're debt free and revenue generating. To me it makes sense for Vatel to sell at the current price, i.e. above £2 because their 800k free shares will cover the outstanding debt they loaned to NCYT. They'll then be left with ~2m free shares to ride it out.
Like many I'm currently underwater here but with the amount of revenue coming in I think the company is worth holding and if I had more spare I'd be topping up. I think if it is Vatel offloading then when they're done this will start correcting itself. Be interested to know what others think.
GLA