RE: More shares bought than sold 9.43% down28 Nov 2023 16:57
Until the hot money/dumb money is flushed from the system, MM's won't mark this up. They know there are some chronic losses sitting around from the mad rush to buy above 30/40/50 on Tuesday last week. Almost all this afternoon's sales were capitulating dumb money that bought earlier today, yesterday or last week. All that purchasing from last week is mostly stupid money, guys who know nothing about the company trying to spin a quick turn on the momentum. They've been bailing out all last week and this and most at solid losses or the minute they see a 1p profit.
You can do an excel analysis of the trade data and see for yourself by comparing the odd numbered shares that match. There are hundreds of them, hardly any made money, plenty lost a big %. There will be loads more examples among the round numbers (10k, 5k, 4k, 2k trades etc) but too many to make a specific match. What you now have is a wall of bad trades waiting to sell out on any mark up. This will take time to clear through.
Naturally, if the company announces anything decent, it will be game on, but it could take time for that. Nothing in the strategy update said it all happens next week. Patience is the game and conviction about the company's upside.