RE: Top risers2 Apr 2021 13:05
I wouldn’t get too excited: yesterday’s “flash in the pan” was not worth even one small beer.
To me, it was just an artificial ramp generated from tiny deals (less than £100k in total, from around 65 deals), and based on nothing of substance, which any one investor or small group of investors could engineer with limited funds, bearing in mind the small free float.
It offered no chance of disposing of a reasonable number of shares at a decent price, so although it’s not unwelcome to see the SP at, say, 17p rather than stuck at 15p - and maybe it will stay up there for a bit - it’s of no real relevance to decent long-term holders looking for a respectable exit.
When we do get a genuine, sustained upward movement based on real developments, reported or rumoured, regarding financial performance, major contracts, or M&A etc..…that’s when I’ll be cracking open the champagne.
I happen to believe that decent long-term holders like me WILL start to see light at the end of the tunnel this year - but based on tangible developments, rather than on some generalised statement about it being "in telematics".