The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Personally I think the spread will tighten up when the Market Makers find some institutional business to supply the retail punters. Clearly by the move yesterday there wasn't any sellers down at these levels, apart from the odd scrap here and there. This is what happens when stocks get oversold and the MMs have had no appetite for any book risk.
Market Cap is still small ( yes that reflects inherent risks from the debt carried) however, I don't see any large sellers on the horizon anytime soon now that the bottom is in and the recovery is clearly on the turn.
Also, for one of many of the large industrial players, it would be peanuts to pick them up here and clear the debt..
The problem is they're a bunch of C U next Tuesdays.
Nothing is straight forward, all subjective ir seems.
Anyone in striking distance of the factory in Walsall? Might be worth having a look, chat to the lads heading in to work...
I suspect the chap William Black having increased is holding recently is the likely buyer here.
But where is the stock coming from?
Most of the institutional holders are fairly passive, apart from Miton who has adjusted up and down along the way.
I wouldn't worry about any stock being dumped by them down here. The holdings (like most of our positions) are of minimal value and would get absorbed without too much impact.
To be fair, despite being invested, they haven't created any value have they? KBW was in charge of SAAB and Smiths industries and would have extensive contacts to create new business.
Time for a different approach.
I tend to agree with you.
Would love to know who's dumped the stock though.
If it is a margin call, or a change in circumstance then great. If it's institutional, then that would be of concern for both parties - as the actual value of the transaction is minimal from an institutional point of view.
I did wonder if it was the Chelverton position. But, the figure doesn't quite tally exactly from my figures here.
Let's hope so DMSC
I think there are several concerns for me as a long-suffering shareholder.
£20m plus then really whats the point.
Continuous fund raising is diluting us all, and bogging the SP down in the process. I know its a favourite passtime of TB and looking at his other investments, well......
But, in this situation as its been mentioned before, its a proper business with real plant, producing a tangible product of which there is a demand for. So, how is this actually benefitting TB at the moment?
What about the recent increases in holdings from Arnstrong Investments and the new Irish holding? FAB also involved now, which I won't comment on.
Does the company get taken out on the cheap as it turnsaround? Is there a real plan here, or is the board ( who commanding a serious salary) just doing the same old things.
Dunno. All speculation and bumfluffery, for discussion.