RE: Very quiet20 Aug 2022 14:50
Sellers out? Maybe!
I have been taking an even larger position in PPC over the last two trading days - I have purchased nearly 4.3m shares at an overall cost of just under £57k approx average price 1.334. Lowest price paid 1.243 - highest price 1.459. There were a few small sellers and TBH I was looking for the sellers to come in to keep the pricing lower so I could buy more shares, but they didn't materialise - typical! Maybe they are fully out, taking a breather or maybe they are on holiday, I guess we will find out next week!
Over the next few weeks/months I will be increasing my position further in PPC (hopefully double the shares that I have today!) paying no more than 1.7 a share (anything under this is bonus). When looking at the forecasted figures in the RNS updates I have fair value to start at 3.5 a share (MC £72m) which is when I will sell a few to reclaim my original stake and leave the rest invested for higher longer term gains.
The share price increased a lot quicker than I thought, especially yesterday, I guess due to the usual seller not really making an appearance. Using my two share prices as reference the MC moved from £25.5m to £30m or just over 17% or just under £4.5m increase. When you look at the value of total shares trading over the last two days this is just crazy and clearly highlights the disconnect from the MC & stock market reality!
Good luck all!