RE: SP6 Dec 2022 09:22
Absolutely right Kwaker.
The market in this is thin at the best of times, and the Small-Cap sentiment is shot to pieces. Market Makers in Bear markets will not sit there and mop stock up - unless there's sufficient trading volume to do so. So, they'll move the prices on scraps to find buyers. It becomes a vicious cycle at times - hence big negative moves on many second and third-line Small Caps.
Institution-wise, many Smaller /Mid Cap funds are still seeing redemptions, so even though Managers may now fancy loading up on certain situations, they simply cannot. At some point, they'll play catch up, and things will move.
It's incredibly frustrating to see Chamberlin down here, especially when the BOD have done so much to not only steady the ship, but to actually get things on the move in the right direction.
I suspect, as you rightly point out they'll get taken out at some point, as the current Market Cap is pocket change to other Industry players right now. As I've said before, the Walsall site must be worth a good chunk of the Market Cap as is. RDC is knocking the lights out with its Order Book, and Petrel is starting to get in its stride. Plus energy is hedged until 2025 at competitive rates.
Time will tell.