The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Dartron/Neil, I sold out yesterday, sadly not at the top of the spike but at 2.95p, which wasn't too bad after my large double down at around 2.2p. Was tempted like Neil to buy back in for another spike today, but have been waiting to see if it would go sub 2p and then when it did the wide spread put me off. I hope you do get a nice spike Neil and get a quick 40% swing, but the direction at the minute seems to be one way. Anyway fortune favours the brave and this business can be turned round, so here's hoping
Hi Sturm, yes agree it would be sill but it might be silly season soon, I think the lack of clarity on the future is an issue and setting out the plans only in December has killed any progress, a Q3 update will be useful but i might be December or January before we start to see anything other than the odd spike, sadly
For clarity, my buy was the UT listed at 1635 for about £6k at 9.94p
I am in too with a first purchase at 9.99p, I think that is a good average?!
Hi Sturm, I hope so too, but I have paused any further share purchases of TXP as I think we are now going to drop further to 52p and possibly down to 48p, incredible though that may seem. Markets up today but TXP down in UK and Canada and expect some market turmoil over the next 6 weeks.
Hi Sturm, understand what you are saying and agree somewhat with the logic, but hanging on to TXP has not worked out over the last 2.5 years for anyone invested here and I am very glad I have ducked in and out. I think there may be the odd spike here (you would think so right) but don't think cash receipt in October will move the dial
I trade some shares Eyeore and hold others as longer term investment, TXP is a mixture of both, sold 50% of my holding a few weeks back and started buying back in at 58p the other day. Don't expect instant re-rate here but also think that the share price should not go down much more, amused though when you get a bounce in a company that is going through potentially existential problems but no bounce here
Hi Neil, agree the market and current sp means a equity raise is not possible, asset loan from existing shareholder or a low ball offer is possible. This is now a high risk share, but may double or treble or may end unhappy for shareholders. Risk and Reward.
Hi Bobber, trades listed as buys could actually be sells, and trades listed as sells could actually be buys! You can't rely on the listing of the trade being a buy or a sell, you can only be assured that the volume of shares and the value are correct. So if the share price is going down it is because there is more demand to sell than buy.
Some bizarre movements on the sp today given the RNS was more positive than negative, have doubled down at 2.2p as think this will be back up at 4p within a week or two
Hi Bobber, the allocation between whether it is a buy or a sell is not accurate, on the total volume and value can be relied upon. If the share price is going down it is because the sells are more than the buys. With very small market caps and very illiquid companies there might be some manipulation, but with a company of this size there are more sells than buys
Yes Denby, because the buy and sell data is never accurate, the price is down because there is more volume being sold than bought, probably in part due to the large and growing short position. Looks like 50p or less by the end of this week