RE: On the subject of Suspension13 Aug 2023 08:54
30.000
from another board, thoughts??
MMs short by at least 26m shares
Here is where the fun starts.
I have been scratching my head with the share price movement and patterns of trades since the court hearing on 26th, wondering with so little free float, how is this going to play out on the run up to official RTO target announcement. One thing is certain, no new shares have yet to be printed or even hinted at to the brokers.
I've downloaded all published trades since 21st July til last nights close.
Buy driven 128,028,719
Sell driven 113,671,064
Unknown 42,592,688 (30m of which traded between 8:44 and 12:42 on day ITS came back from suspension pushing prices from 2.8p to 5p with no published bid/offer. price settled at 3.5p by the time MMs were back publishing a bid/offer)
I estimated at least 27m of the unknown trades are buy driven. leaving 15m taken from the offer.
As of close yesterday I suspect MMs have sold to the market approx 26m more shares than they have received leaving them short more than the free float.
Using the SP for each trade, MMs are currently up around £800k but need to use some of this to balance books. If they can get the stock back for under 3.07p, they're in the black. If not, into the red. So they will aim to churn this stock as far under 3p as possible.
If new board don't issue new equity, there is definitely a short position bigger than the free float MMs need to convince holders to let go of shares.
If they don't, will MMs push themselves into a short squeeze with the help of more retail interest??
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phil1969 9 Aug '23 - 13:31 - 1381
29.000
Classification: Ramp.
The price we are looking at today has no bearing on what went before: a company that no longer exists. A multi-million pound co that almost folded and the share price fell from £2.50 to 0.17p. Which is precisely why it can shamelessly shed 500% in a day or gain 1000%.
Mr market hasnt a clue.
But all that is irrelevant.
We don’t know what this company is about to become.
We know that we have new active ex-billion dollar co CEO / director(s) with excellent connections. We know a fair bit of history. We can now speculate on possibilities.
We know we are apparently taxiing along a new 60 day runway preparing for take-off to a higher altitude. Per RNS.
A medium company reversing into this could lead to an explosive re rate many times the current, now somewhat random, share price. (Btw only 50M shares). Mkcap less than 1M.
If/when a deal is announced. Big Things can happen in the blink of an eyelid.
So we may be witnessing a short trader spike right now. But will anyone holding want to risk missing the potential big one? Tough decision. Anticipation, given the chance, will likely take us into the foothills with gullies. One has to make that decision and then, if foolish/brave, ignore the volatility.
I Try not to be greedy - keep my holding below stress levels so as to keep my n
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