I suspect that people have been pulling the wool over your eyes by saying someone is building a stake.
If you compare the momentum from the rise to 20p (when we knew someone was buying) vs now, you can see there is no momentum and the decline in share price means no large buyer is present.
RE: RNS relates to the OLD BoD's **** ups16 Mar 2021 21:16
They could go bust but I doubt it. Although I've never believed the "Amigo is needed more than ever" sentiment either.
The reason why the FCA are investigating us is because we've been caught doing something we shouldnt have been. But the board looks to be trying to correct any misgivings the previous BOD have left them.
As with normal pennant consolidation, of which Boohoo has been within for the past year, this could possibly rerate to 550p as it extends beyond the resistance on the pennant.