MMs seem to be mucking about with the share price. I've got faith in the business and pretty sure good news is on the way. Hope the good news translates to the share price though....manipulation seems afoot at the minute.
The MMs seem intent on widening the spread...will be interesting to see how this pans out before the results in May. Hope you are right, LRT. Will be good to add more, if you can buy at 1.6 or below.
One thing it has done Sid is narrow the spread. The MM got a nice little earner from that trade and probably doesn't feel as exposed and has tighten the spread. Also think the buyer is playing the long game...loads of potential in PEL and 1.85 will be cheap pretty soon.
I've asked for an update on the major shareholders from Paragon via Q&A. Someone wants out but the MM's need buyers in order to fill the large sell order. The large spread is not going to attract buyers though.
There must be a huge sell order in because any buys that do come in are then quickly followed by a sell. Until that sell order is filled, I can see the SP continuing at the low levels for the foreseeable future.
HL asset management have increased their holding from 3.6% to 9.4% in the last 3 months or so. It looks like they have mopped up the shares from Vulcan International Trading Limited who have disappeared off the major shareholders list. They previously held 6.3% as of 25/09/15....maybe they are not completely out as yet. Would like to know why Vulcan left the building. I'll keep checking.
Just added some more at 1.58. That's 554K in total with purchases over the last week or so. I think I will sit on my hands for a while now and see what happens.
Invested about 25% of my CR from Watchstone this morning. Order book looks fuller than it has been and directors buys have given me the confidence to some cash in and start building a stake. Bought some for the kids as well....GLA