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Jeffries have put out a note saying buy with a 720p target.
Thought this would be a bit perkier this morning, between news of Chuka Umunna being drafted in to lobby, and the unions giving in. Whichever way this goes now is good for IDS shareholders.
I assume it's just traders getting bored because they haven't made 20% in a weekend.
From Evil's blog:
However, late in he afternoon it emerged that the Czech Mr Daniel Kretinsky had been turned down on 11th April by the board of IDS when he had sought an agreed bid of 320p. Indeed the board considers that 320p is below a reasonable offer. My guess remains about 400p. Clearly some punter or punters elected to jump the gun when buying on Wednesday morning. Why the election?
Anyway, IDS remains a stonking buy at under 300p.
It's admittedly not a good use of my time but I spend a lot of time watching L2, and the size of the orders has changed dramatically this week.
Someone is working a large buy order, but they are also being sensible and taking their foot off the gas now and then to make sure the price doesn't spike too hard.
There's a clear hunger for shares, with someone coming in frequently and hoovering up everything on the ask. Only thing holding this back is someone still dropping a load of stock in the closing auction every day and knocking it back down.
Will be very interesting once they have run out of shares.