Member Info for LongerGuy

Why do you say that Jtan?

Thank you

I'm interested in this stock and the trading update looks incredible, but has there been any insight into why JP Morgan would have started a short here 4 days ago? It's the only negative I can see right now

Some of these scenarios could see a few days of gains without any news being forthcoming. The Revb one I referred to previously gained for about 4 days before there was some news. Each morning it would fall back a bit and then start climbing again, it all depends when the buyer finishes their accumulation. If it was a short closing entirely then there's still some way to go for either of them for example, same if it's someone wanted to take a significant stake - 2 million is a fraction

Other ones I thought of were:

New institutional investor
Possible position before takeover
Broker is planning a positive update and has advised their investors
More positive than expected financials leading to pending market update
Nothing - the volume was similar to Wednesday so could be a coincidence, but it just happened very quickly

Let's see what the weekend brings I guess. If no news you could be right, but the fact it was rising into the close gives me some hope.

If I'm honest I regretted it when the price continued to rise, but that's the way things go sometimes.

Did you manage to average down in the end Jtan or are you still holding out?

I was over exposed here as I used some extra funds to average down. Sold those extra out once I was back to break even and kept my original position. I hope it doesn't retrace, but have some dry powder to average down again if it does.

Indeed, but something must have triggered it. They have manipulated the price so well they could have continued to gradually buy back.

What interests me about this rise is the huge increase in volume, but also the way the price shot up so quickly. It is as though someone said "buy 2m shares no matter the cost".

Given how the price has been held for so long, something must have happened to cause that urgency. The question is, what?

What are you posting on next?

It had traded 200k shares at 2pm and 2.2m by close. Don't be too disappointed, there's got to be news forthcoming surely

Last time I saw this happen it was when Boohoo were buying Revb shares up on the cheap and the bid kept getting ahead of the ask. There must be some rumour around or an institute has asked a short for their loaned shares back. I can't see a short continuing to buy up to this level after holding it down for so long.

I meant the bid price on the stock at that moment, not the sale. Someone is desperate to by and that pushed us to auction. Hold onto your shares.

Unfortunately when the auction ended we landed lower so someone is letting them go for less than they are ready to pay.

We've gone to auction. This is definitely more than a short closing.

Wow

That was out this morning, definitely not the news.

800k traded in 1.5 hours and only 200k traded the whole day before that. It's nice to see.

It could be a short reducing, someone snapping up a bargain or some news. Beats being down all the time.

It's had really low volumes for 2 days. Before this rise started about an hour ago it had only traded 200k shares, in an hour it has traded another 300k. If I had more money I would have been taking advantage at these levels too.