The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
What is the process for an official complaint? Did you guys write to / call FCA about the broker and also message the broker saying that you are making a formal complaint?
Thanks for the info. Still no shares deposited in my account, so I'll send a follow up.
AJ Bell told me today that "please be advised, the Spectral AI shares have now been deposited into your account and are available to trade". But they don't appear to have been deposited yet. I'll see what happens by tomorrow morning.
Yes, I had heard nothing from them. Then in my message yesterday I mentioned that it is widely suspected that naked short trading is going on, then suddenly I get a message this morning telling me that my shares are now deposited and available at market open.
AJ Bell have informed me this morning that my shares have been deposited in my account and should be available to trade at market open (although I'm obviously not going to sell). I did put some pressure on them last night, so don't know if that is just a coincidence. Hopefully some of the other brokerages will also be delivering the shares. Saw pre-market up 24% there, so hopefully a good sign.
Great News! Nice pre-market rocket! About time this stock started firing up to true value. Hopefully this will destroy shorts.
Yes, feels like this company is still very much under the radar of most investors. Once the Institutions start coming in the Stock price will start to accelerate upwards very nicely. Although, I'd still like to think that it will initially take a big leap upwards once this shorting nonsense is over with / resolved. It's good to see Wensheng at these events and hopefully Spectral AI will be put on the map in due course.
I see on Stocktwits, Jimzi mentioning t35 for the short sellers (next Tuesday). I assume that is the amount of time that the short seller has to purchase shares within the clearing window mentioned below (I was trying to educate myself on the theory of naked short selling). So the shorts need our shares, but we know the value of the company plus we are we are well down anyway, so best to hold.
What will happen if they fail to purchase and deliver the shares (FTD)? Any ideas what the shorts will do between now and t35 / will there be an epic squeeze?
“Naked short selling is the illegal practice of short selling shares that the investor never actually obtained. Naked short sellers collect money by selling unavailable or non-existent shares. They hope that shares will become available before the end of the clearing window so that they can actually purchase those shares and close out their short before the initial sale is even finalized.
Naked short selling can go very wrong in a number of ways and end up harming the unsuspecting person on the other side of the trade, which is why it’s banned in the U.S. The naked short seller may fail to purchase shares within the clearing window, or they may be forced to close their short trade by a margin call before they get hold of the shares.
That can cause a failure-to-deliver, in which the person on the other side of the trade essentially gets swindled — they pay money for shares without either receiving those shares or getting their money back”.
The question I'm asking myself is, if this stock has fallen to levels so low they would have been beyond the comprehension of most, why are people now not buying this stock hand over fist now? At $3, when this should be double digits easily.
So I picked up a few more shares a couple of days ago. I don't want to sell, but noticed that I couldn't sell even if I wanted to. The broker tells me there is not enough liquidity to sell (even a few hundred £ worth). Is that a good thing? Although i could do it over the phone. Because I'm thinking about buying more, but don't understand the full dynamics of what is happening right now, so not fully trusting of the situation, whereas I do think this price is a gift at the same time.
Thanks. Starting to make sense. So are the majority of shorts out now since Tuesday or more days like that expected?
Also, people mention a "gap up" once we break through certain thresholds?
Hopefully that will take this stock price to quickly to where it should be.
Cheers, that's a good explanation. Still trying to get my head around this trading stuff. That makes sense what you say.
AJ Bell update this morning. "There is currently a delay in issuance of DRS statements by the American transfer agent. Once received, the statements will be deposited with our overseas custodian, and then cross-boarded into the CREST system to allow electronic trading. As a result, there is currently a delay in the ability to trade the new shares until this process has completed."
Can't help thinking if this was set up to be deliberately slow.
Nsci007 (Jimzi), LibCap, DekDougan battling hard for us with relevant info. Good work lads.
Positive day yesterday and hopefully the start of a long long run up to fair value. Needs to 6 x from here at least to get there.
Rant alert: On stocktwits, the majority of people seem to be small time day traders and fly by nights flitting from one stock to another and literally knowing nothing about the company. They must just get signals and follow the flock in and out, having no idea what they are buying and selling. There are a few regular shorties on making constant niggly comments based on no facts whatsover. Hardly any of them are actually proper investors. No idea about what the fair value range is. Feels annoying how they are in and out messing with our potentially great company at such low prices all of which I'm sure could have been avoided with a more clinical merger transaction.
Anyway, positive move yesterday and let's hope for more of the same. Still waiting on shares from AJ Bell. No further updates on that.
It's a good idea. I keep thinking, give it one more day as I expect that any given day the price could surge. Or perhaps see what happens when we actually receive our shares.
If anyone gets a response from Vincent or another person at Spectral please share to keep everyone updated. Likewise in terms of receiving shares.
Perhaps if there is no update or significant upward movement in share price by end of this week or next we could have a date in mind to act as a small group. Might carry a bit more weight than many individual requests.
They may also have started an investigation into what is going on, but companies need to be careful legally what they can say, so may take some time to hear an update. Also, the share price may suddenly correct and burn the shorts.
Nothing mentioned. I checked the investor section of their website for any updates over the last few days, but nothing so far. It's getting to the point where the stock price is so far detached from reality that it is beyond ridiculous and you'd be hoping for some sort of update. 3 weeks today that the merger took place and still no shares. I also feel that the issuing of shares to existing investors has been made deliberately slowly.
https://investors.spectral-ai.com/
Cheers Jimzi. Yes, I've def no doubt about the company quality and was in for a medium to long term hold anyway. Just frustrating not knowing what's going on with the market today. But as you say, the market always gets it right in the end, so onwards and upwards. Great to see confirmation of the contract even though we all knew it was a given. Company fundamentals should be the main thing in mind now, looking past the shorting and manipulation in the short term.
Yeah, this just feels very wrong. There is something going on behind the scenes here. How can a stock that was already way undervalued announce that it has just won a US govt contract worth double the current market price and be down 5%!
Jimzi.....any insignts into what may be going on? If you're still watching here.
Hard to make sense of it. Must be manipulation. The initial $55m alone is around the same market cap as the company currently! Trying to see what these SPAC traders on ST are saying as they will have seen numerous of these. Seems to be consensus that news isn't properly out there yet, so hoping for a big rise still today and the coming days. I've signed up with Spectral AI for investor news alerts and still haven't been sent anything yet news is out there. Also, some of them saying the Institutions may come in soon which should shift things along.