RE: Come on EUA!!25 Aug 2020 14:56
There are some some good interviews on youtubes with WINS employees on how it all works in small caps. They speak to big customers and the company broker a fair bit and look out for influential press and decide what the price should be or to fulfil orders they have on the book. It's much more old-fashioned/fun than automated trading and gives you a better chance of beating the market if you understand it but getting fleeced if you don't (within reason). It's also frustratinbg becuase you see a good RNS and want to buy quick but MMs have often already just hiked the price by 15% even before demand kicks in.
Looking at the trades today big sells above the normal market size (ones they are duty bound to quote on if within NMS) are getting reported instantly in the main. Big buys are getting delayed by an hour. This is what suggested to me they are just buying above nms if they can and then passing on to buyers later to fill orders which by size are most likely from iis or regular customers. It also means more appear to be sold than bought when looking at fundamentals but think it will even out at end of day (or week). I do think a fair bit of derisking will be going on as some deem we are approaching 50 to 75% of value at 30p. Others would argue not of course.
It's also why I think conversations with our own broker held this at 20p for a while to allow the ii placing which now is as good as at discount, but I might be wrong. With Flanks it does seem we got there before BOD wanted to RNS via detective work, but not to say they haven't been loading up for a few days anyway with a bit of talking to the broker etc.
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