I do not think that is correct. The reason so many are sat at 75, is that we have had a large seller at 80p and it was one or two MM’s picking up that stock.
I could have quite easily picked up large tranches yesterday below 80p.
Key support level 78p, sorry if that breaks we are going much lower in the absence of news or someone actually buying the dumped shares.
I would like to think so.
Since the new sales contract last November, there have only been two material new news RNS’s (I disregard the interims, final results and fund raises) released - basically seven months.
The other way of looking at it, is that they are not desperately trying to inflate the sp with news to get placings away.
Based on what the CEO has said publicly, it would seem there should be lots of other news due.
Whs:
I also noted from the RNS feed that institutional investors bought shares at 105p with some to be admitted on the 10th June.
You might not be far off with your theory. The options were tradeable from 21 May and then three days later they released the US news.
In respect of the 250k options, we have had since last Thursday when the sp was 95 pence 271k of sells in sizes larger than 10k.
If it is truly the case that we only have the options being sold, then they should be done and it could be a good time to buy.
If its not the case, and we have another seller then we are looking at 70p in the absence of news because the volume on the buy side is not sufficient to support further sells of this size.
NG - where did you get no placing from?
After due consideration, the Directors have concluded that it is appropriate to prepare the financial statements on a going concern basis subject to raising the required funds either through asset sales and/or raising sufficient equity.