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Might be worth using Twitter to voice any opinions to the board
Solvg93, I read the Jefferies note yesterday and suggested that copper could average a price over $4lb and could exceed $5lb due to the structural deficit that’s going to emerge. Upgraded ANTO and GLEN but didn’t cover any of the smaller names. Those price forecasts would be eye watering for SOLGOLD
The main pillar of the Cornerstone defence to the Solgold bid was based on valuation and price. Seems very hypocritical of the management to now offer 1.38 million shares at a substantial discount to their theoretical high valuation of a month ago. You could argue that the BOD have perhaps failed in their fiduciary duty to shareholders in turning down a bid based on an undervaluation of the company.
Miagi, I think in so many instances certain stocks are very thin in terms of liquidity first thing in the morning and it’s best not to be exposed to these stocks before 9am. One institution I knew well wouldn’t trade anything outside the FTSE until after 8.30. Although I suspect the FM for that fund was a late starter. You’d more than likely have had a proprietary trader take you out as some of those desks would flourish on wide spreads and lack of liquidity
RK, totally correct ...although there aren’t that many left in the city that can take a view IMO. Stock lending is big business and we could earn an average of 7 bps from lending and far much more on “tight” stocks. The growth of the CFD industry gave prime brokers and stock lending a huge boost
Miagi, I refer to the instances first thing in the morning whereby posters on here have complained about being deliberately stopped out because of a wide spread. That does not result in a great number of small PI sales all the way down to a low level. However if I wanted to buy a stock as a MM I would gradually move it down over a few hours and that would certainly encourage a number of PI sales. This can be referred to “ shaking the tree” .....two completely different occurrences