RE: Quoting £5.10 for 90000 purchase10 Feb 2021 10:39
Hi Toli
This is a good sign for current holders. It means there is not enough liquidity to satisfy you order (this is why I buy in auction where liquidity is not an issue)
So currently on the live book there are only a total of 108,266 on the SELL side the largest being just 18,500 vol @ 541.6 (the high of yesterday and July)
So to satisfy 90,000 you would be sucking up most of the book or more likely quite a bit of a market markers stock. Given this isnt a massive but significant amount consider the shorts needing to return 6,000,0000 and the mms dont look to be holding many
Alternatively they could be holding loads and they know its going to bounce back up today!
Try get quotes in tranches of 10,000 (EMS is only 1,000 though)
PS on the other exchanges Chi-X and BATS there is also not much liquidity and is part of the reason this stock moves so much on relatively small volumes