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Perhaps the suppression in share price was mainly to keep it out of Ftse 250 inclusion with the deadline being yesterday. Now that is out of the way, maybe we can go past 440p this time around with a big push!
Lol..Most were not expecting this rise yesterday instead of today...see my post below. This is what MMs do take out retail investors...You have to hold tight or be in it to win it!!!
Millions of eyes were looking at Asos today after couple of TR1s yesterday. Obviously, everyone expected a big rise today, but it will only go up when there 's least expectation...ie. nobody looking! Maybe tomorrow now!
Shorts tend to reduce when the share in question goes up! Look at Ocado, it was in 400p in June when the short interest was about 7% AFAIK and was the most shorted share in UK. It rocketed to 1000p+ in July and that's when shorts reduced their positions and booked heavy losses or no profits those who shorts at highs. Increase in shorts does not necessarily mean that shorters are privy to confidential information. I think Asos can definitely do Ocado type recovery soon and maybe even beyond!!
Last time I checked Ftse 250 list about 2-3 weeks ago, there were about 30 companies between £350m and £600m market cap from the bottom with maybe about 15 companies under £500m. We may just get lucky! Fingers crossed!
Btw when does it become official if anybody knows?
Yes, these stake buildings by MA and Camelot are having little affect compared to when a new shorter comes on board which then results in 15-20% decline in a few days.
We all though that MA was buying to stop any take over when it approached under 10%. Now he is under 20%. God knows if he wants his 30% before making a takeover offer.
Exciting times surely, ATB all!
Big day ahead with Jackson Hole and Powell speaking around 3pm. Remember Dow shed 1000 points in one session last year on JH day gives me hope that lightning won't strike again. Things can change in a jiffy though so let's hold tight.
To me it looked like some shorts got closed/reduced around 360p level considering MA and Camelot stake increase. Or there is some sort of leak we are not privy too...time will tell. Tomorrow will be interesting if we close near the highs of the day.
For god sake, there is a loss after tax and revenue down too more than expected. I don't see anything good with the H1 results. Call me a shorter or a deramper but these are hard facts. Guess this board will be happier when this reaches under 200p with oil at $100. Crazy!
If it goes under £3, then there are some problems...you would probably average then at £3 to see it go under £2.5 or even £2
But, I don't think we will see new lows hopefully, it's just the macro news that is affecting it for now. Once the dust settles, perhaps we may see MA getting his own 30% stake in few weeks/ months etc for the final takeover