The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Some large buys appearing today... possibly a well received presentation by Mark?
Looking at the yearly chart for REDS, once 1.2p goes, (I would imagine not too many left holding the ask at this level) 1.28p slight resistance, then 1.40p. This looks like being the strongest day of volume this year!
Today has seen nearly £200k's worth of shares change hands already. This isn't without interest, as it is unusual trading behaviour. No doubt an exchange of share ownership, the question is who's buying and who's selling...and their motivation! The volume is such that any over-hang one would expect to be cleared fairly quickly....
TBH I haven't got a clue what is happening at the moment with the bizarre trades and share price dropping despite the huge apparent interest at this level. I can only speculate, it is all fairly irrelevant in the scheme of things........ and it's Friday!
For me, the only logical explanation for the large share transactions that don't move the market are that a number of them are worked sells. It would explain why we stuck at 1.20p for a number of hours despite a raft of buys if someone was selling into the buying... this £82k could be the result. Hopefully, whoever has decided to move on has completed, and we can get back to where we should be!
and no share price movement! I can only guess that someone is sitting on the bid selling into this volume. Ultimately, when the seller clears I can see a very sharp rebound... maybe that is why the trades are pouring in? Thoughts anyone??
REDS bought Commensus PLC for £2.4m one month ago predominantly with cash.... don't think a share placement is about to happen do you?? Commensus will be bolted on as a useful platform to enhance Connect IB's software solutions and avoid paying 3rd parties. This software part of the business has been making 82% margin, why outsource when you can make the full margin in-house? REDS is undergoing a transformation from a low to a higher margin 'recurring revenue model', this takes time, but I remain positive about the future. Some nervousness is to be expected, until revenue and margins are seen transferring from theory to bottom line. Rightly or wrongly, I continue to have optimism that the current management can shake this business up, and enhance shareholder return, it is in their interest to add value, just not to be expected over-night!
Agree, this volume isn't just technical. Some serious swapping of shares going on......many sizeable buys, and I would guess large sells being cleared too looking at the small movement in price. Turnover is about the 6th largest this year. The unusual volume should generate some interest here....could REDS be the subject of an opportunistic takeover?
I agree with the double bottom analogy. It will be interesting to see how large the sell order must be matching these current buys, or are some of the trades that appear buys actually disguised sells,( as some were yesterday. ) I guess all will become apparent soon! PT
Having been a holder for a number of years here, I think it's fair to say that recent trading activity has been unusual. It would appear to have hit a strong support level, and to my untrained eye some stake building is occurring. Where this leaves us, who knows, but REDS seem to have at last attracted some interest!
Well, I've just added at a little under 1.20. Hope it's the classic 'double bottom!' All the best, PT
The reason the price moved up despite the sells yesterday was a buy of £82k just before 10am. Now showing as a delayed trade.
Another chunk picked up this evening it would appear. I reckon well over £200k in the last 2 weeks; it would be interesting if the same buyer involved. Makes sense to pick up a good slice whilst we're between news. Seems likely that P.I's will be late to the party, as is often the case.
Mid- Feb trading update, plus a plethora of large contract updates before then!
I consider 68 / 99 full time employees a real endorsement to be honest.
We've bounced off the rising support, (bottom channel). This was at 80p Nov/ Dec 2015; 1.05 in July this year, and now sits at around 1.18-1.20. Let's not forget what a great performance this is, despite the recent dip back to the current level!
Bid moving up slightly despite sells this morning, looks like a buyer mopping up. MM's don't raise the bid under selling pressure. Should move up later IMHO.
Could be forming a new base here... Looking very over-sold, nearly 50k now leaning on the ASK at 1.30, about time for a blue day me thinks.
Bit choppy lately! Not concerned to be honest, appears oversold, where it may have got ahead of itself slightly recently. Just trying to grab a few more, but NT at the moment, so it seems I may not be the only buyer in town!!
https://postimg.org/image/7h9dpzq0t/ Hit a good support line today... fingers cross she holds. It really couldn't be more over-sold looking at MACD and Williams. Expecting a stronger week next week!