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In fairness they played a blinder, shorting down from near 70p and then seeing the consistent quarterly conversions, closing near 11p for CPR, re-shorting near 24p resistance with a bond conversion due in a week for 15m shares or so, not a bad play but getting greedy
Entire market got caught out with today's RNS lets be honest... they'll see all their profits wiped if they're not careful
No bailout this time....
All IMO
Probably the best news we’ve had all year tbh how many big hitters will buy in now knowing the bond holders won’t sell into the market
Who’s to say they won’t do the same for the next payments too
Clear path to £1+ now
All IMO
Erm no... the purpose of the placing was so the bondholder doesnt sell their shares into the market....
The dip was mangrove reopening their short....anywhere up to 8m shares (assuming they closed entirely at 11p)
The entire market knew the conversions happen every quarter with relentless selling so not a bad bet, caught everyone off guard today
All IMO