The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Good update and happy to add more on the opening.
Can't understand why some are selling after this update? Clearly share price is going to rise further, particularly when Simon Thompson at Investors Chronicle covers it.
Okay so SCLP price is in the doldrums. I put it down to several reasons:
- Lack of enthusiasm for UK shares generally at the moment. Worries about future BofE base rates. inflation, recession.
- Withdrawal of funds by PIs to either put into high interest bank accounts. high dividend paying larger company shares
- A large seller of big blocks recently. We saw this the last 2 days with relentless selling into any decent buys.
Why are they selling? Who knows, probably just need funds for PIs taking money out of stock market.
- Summer season, when trades in AIM stocks are always low volume and the market makers drop the bid hard and open up the spread prices.
There's loads of AIM stocks in this situation where prices have been dropped 30% recently, despite contract wins and good news updates.
Blaming Lindy or the BOD for the share price failings is not good, Particularly if new investors wanting to buy into SCLP read this bb. We all know the huge personal effort she has put in to getting SCLP science to where it is today.
So please all chill and accept the share price is a snap shot in time of the value of the business. We all know it worth considerably more than today's price.
Relax, go for a walk, have a pint or two. Life's too short to get into arguments about short term share price movements.
Rich
Closing price 10.5p, up 0.125p (1.2%) on just shy of 2.5m shares traded.
I note that yesterday's big seller reappeared at the close - 3 large sells at 10.5p (200K, 200k and 266k) presumably into todays' stronger buy action and hence liquidity.
I'd be interested to know who is dumping the big blocks, hopefully get an RNS confirming soon..
Looks like a fund is selling a few here. Market makers walking share price down slowly, despite MWE Company buying back shares every few days. Today I can buy 40,000 shares at 44.25p....
Seems really cheap, but in today's market where small cap shares are out of favour, who knows??
Bought back in today at 13.5p. Probably should have got back in at 11p, but waited till tide turned. Feels more positive news now coming out of TEK and hopefully should fly again, especially if ST in IC covers again with Reebok tie up.
The Times share tip is handy in giving whoever is selling down IHC, plenty of liquidity to sell into.
Already 342,000 shares traded. Hopefully once the seller is out, IHC can move on upwards, just needs a couple of decent contract wins.
I guess its a) US debt ceiling worries and 1st June deadline, caused US market to drop yesterday and b) UK inflation down in April, but not dropped as far as expected, and core inflation (excluding energy) still rising; therefore further BoE base rate rises expected (which will further cool demand for houses)
https://www.investegate.co.uk/british-amer.tobacco--bats-/rns/agm-statement/202304191145017681W/
Clearly the boot is on the other foot now! MM will be loving the fact that the shorters (Marsh*ll Wace et al) will be trying to decide if they close their shorts quickly and drive price higher, or double down expecting deal to fail.
MM (if deal is in the bag) can drop the RNS at any time with a confirmed bid and price.
He must be enjoying this situation and who can blame him after all the sh*t the media has thrown at him and continues to do to try and discredit his business.
Directors have sold 37,950 shares at £2.24 = £85,008 worth between 4 of them.
The same 4 Directors still hold over 2,000,000 shares between them worth approx. £4,480,000.
Lets get some perspective. Perhaps they need a few quid for school fees, holiday, tax etc.