RE: Tomorrow3 Apr 2025 05:48
Novicetrader,
Before I attempt to answer your question, I first became invested in SCGL, during early December last year.
The rise during the first two or three weeks or so of January, was unbelievable. Having made (by my standards) good profits, on several occasions. I sold - only to buy back higher, and yet still make another profit as the SP continued to soar.
The crash back down to 0.5p, began in the last week of January, and appeared to have been prompted by the release of a cheaper Chinese version of AI. This had an immediate and catastrophic effect on the SP of several AI related 'start-ups' - not least this one.
Since the beginning of Feb, the SP has rapidly declined - the fall appearing to be driven by relentless selling of more shares than you can shake a stick at. The sold shares were invariably 'late-reported', in large quantities and often weren't printed until the following trading day - this has continued and continues. Many on here, have attributed the source of these large 'sells' to the disposal of CNLs. Meanwhile, despite the huge volume of shares moving around, there have been no TR1 RNSs (which I consider odd) - the lack of which has prompted some to contact the company, for an explanation - none such has been forthcoming.
Plenty of posters here have cried 'foul' - citing MM 'manipulation' (I'm not entirely convinced this is the case - just market forces are 'at play' - IMO), and as for the allowance of 'delayed reporting', this is apparently permitted by some stock-market rule or other, in order to maintain a stable market - HA!
If you decide to dip your toe in this morning, obviously, only invest money you can afford to lose and keep a very close eye on your investment.
I'm not one for predicting how things will go, but there are charlatans-a-plenty on this BB who will - rarely (if ever) substantiated with coherent reasoning, but rather, research based of 'wishful thinking' and/or a corrupt agenda of personal gain. That said (about me not predicting how things will go) if I was pushed to predict things today, I'd not be surprised to see an initial spike up, followed by a reversal after an hour or so, then perhaps a steadier rise after lunch. For heaven's sake, don't use this as advice to jump in early - I'm wrong more often than not.
If there is a spike up early on, I will be tempted to sell some of my shares, with a view to buying them back cheaper, later.
Good luck with what ever you decide to do.
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