RE: 50p underpinned???26 Mar 2022 16:21
@Harchris
One vital bit missing from your analysis and that is that would be shorting chancers, like the poster Masterblast here, opened short positions to further support the the price drop. In fact the short numbers were substantial.
Situation is that these shorts will need closing, I wouldn't want to be the last short to close next week, could get very expensive for them.
The intra day high was 71p on Wednesday, with SO dumping so much stock and shorters joining the party it retracted to 50p, not many short will have sold that high hence why many are still open and need buying back and desperate to get this price down further, they are hoping for more BUT frankly i don't see it happening.
The news was significant, market just catching on. There is also a stack of further news due on this over the next week. it was a breakthrough on Wednesday i wouldn't be surprised if Merck make a move now.
Also, WINS were fishing for 12.5m shares at 50p Friday, i thought wow, they will never get that much stock in. Made me wonder if they have a major buyer or fund lined up, so i cant see the SP being under further pressure now, more likely more buyers will move in.
From my own perspective i certainly wont be selling at these levels that's for sure, not after Wednesday's break through news business is better positioned than ever and further proof of concept. I'm adding at these levels,
See how events unfold.
Pork's