Hi everyone, the constant seller11 Dec 2018 18:00
is most likely undisclosed short selling by the market makers, this is quite common this time of year across AIM.
https://www.fca.org.uk/markets/short-selling/exemptions-requirements
It may be worth getting hold of the Directors and asking them to apply for the following intervention by the FCA:
Our intervention powers
Significant price falls
The SSR gives powers to competent authorities – in the UK this is the FCA – to suspend short selling or limit transactions when the price of various instruments (including shares, sovereign and corporate bonds, and ETFs) fall by set percentage amounts from the previous day’s closing price.
https://www.fca.org.uk/markets/short-selling
See the current restrictions and prohibitions
Exceptional market conditions
We also have powers under the SSR to address adverse events or developments that pose a serious threat to financial stability or market confidence.
These powers may include:
extending the scope of the notification and disclosure regime to include additional financial instruments
requiring lenders of financial instruments to notify any significant change in their fees
restricting short selling, or other transactions that confer a financial advantage in the event of a decrease in price of a financial instrument, across classes of instruments or all instruments
restricting, or limiting, entering into sovereign credit default swap transactions
We may also need to consider whether to follow another competent authority’s decision to undertake any of the above in its own jurisdiction if the instrument is also traded on a UK venue.
If we make such a decision, we must make it public. We will do this through an announcement via a PIP and on our current restrictions and prohibitions web page.
This is getting rediculous here and everywhere else, the MMs will keep bringing it down until they find demand to meet supply. Many of the brokerages are suffering at the moment as a result of Mifid2 and ESMA, desperate situations call for desperate times I guess. However this shortselling is quite common this time of year, just how low will they go?
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