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Agreed MrR!
I personally prefer to accumulate and have done so with AVCT for several years, and I’ll happily wait through all the ups and downs.
However, if my inclination was to be an active trader, then I’d most definitely, after a lengthy education, use charts. In my view, an active trader who doesn’t use charts to try to make sense of the options is a guesser who relies on good fortune and luck.
Mr A, I may have misunderstood what Barclays state in the Open Offer page, so for the sake of clarity, here’s what they say: As a Barclays client, because your shares are held in a nominee position - grouped together with other customers - it may be that the percentage you receive is actually higher than the scaleback rate announced.
If less than £2m shares are taken up in the open offer, then the BOD will divide the unused number of shares between all those who apply for the excess.
In the case of Barclays however, I understand that any excess shares allocated by Avacta to Smart Investor, will then be shared amongst all the beneficial holders as they see fit.
I’ve spoken to Barclays and in the case of fully subscribed ISA’s it is not possible to get hold of the entitlement ‘outside’ the ISA. The only solution, as has been suggested elsewhere on this BB is to sell a few shares to get enough cash for the entitlement shares. I’m going to wait until 2-Nov to do this.
If you’re using the mobile app, on an iPad for example, then the message isn’t very informative or useful.
However, if you log into your smart investor account using the web app on a laptop or desktop computer, the you’ll be presented with a ‘Corporate Action’. Click on this to display how many shares you’re entitled to buy, and buy them. You’re also presented with option to oversubscribe.
Wiggly, as you said, “AS, true to his word, will not discuss the clinical data until read out.”
My first impression of the RNS is that AS is trying his hardest to avoid being specific about the source of data provided to the FDA.
The RNS states that Orphan Drug Designation is granted, then it goes on to say that “The FDA ‘can’ grant ODD based on a review of preclinical data”!
I agree that it looks as if there is a large order being worked in the background. MREX in particular has been at the top of the bid, buying all week. On Tuesday they were alone at 124 for most of the day, buying hundreds of thousands of shares.
Sells out numbered buys today 882k to 510k according to the LSE algorithm.
But regardless, in my view the SP looked very strong, all but two of the last sixty or so trades from 14:48 until close were sales, totalling over a couple hundred thousand shares. Yet during this time the bid from the top MM was increased from 137 to 138 leaving the others at 135.
I’m willing to be corrected, but to me, this price action could perhaps be explained by the MM accumulating shares for a keen buyer.
I agree EGTP, it looks very much like a big order being filled. MM Peel has been scooping up shares at around a penny over the bid for quite a while and for hundreds of thousands of shares. They want the shares.