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I think its more to do with somebody or something absorbing the forward sold CLN conversion shares. Take a look at L2 and the rounded clips going through. The increased volume and accepted buy price by the buyer is making this move north. There were more sells than buys yesterday and today, but the SP is going up as the buyer is accepting the rising ask price. Minimal PI selling is helping too. The big rounded sells are not a PI in my opinion as every time you do a dummy sell it never gives you the price of the rounded sells (Always much lower).... tells me they are forward sold from an institution, in this case the CLN on a big order. Hopefully the buyer will continue to want more
All my opinion and nobody knows for certain apart from the brokers actioning
San
Well an example could be the use of gatenet which already has a hosting node on polymesh. They will own a percentage of that when the deal goes through to purchase gsx group (gatenet owned by GSX group) . All assumption obviously as nobody knows till news is released
San
Strange you think only the big companies survive in a multi tiered ecosystem like blockchain. Are you saying that VLRM can’t sit around big boys and enjoy their segment of the market? They could well absorb a whole host of ME new start ups or IPO’ing existing companies and enjoy a much higher market valuation than where it currently sits. Not forgetting the NFT marketplace where VLRM can have a big foot in the game if they move quickly… which they don’t like to do
San
I would look at this from next year onwards. I think there will be listing news and potentially an agreement for funding this quarter, but the key news will in Q1 with all the deals going through. If they don’t go through in those timeframes then there are serious problems here
San
With approval from the regulators it derisks that point to a degree. The GSX is a countries exchange and wouldn't be released to anybody to take over unless proof that there is a plan to manage and develop it. As it stands we don't own anything and your point stands, but once that deal goes through then they have delivered a part of what they promised to shareholders. I still feel my exit price here will be hit
San
I think its easier just to wait for any formal RNS and then analyse, because that is the only certainty on what the company are doing/have achieved.
My view is that the poor SP performance has nothing to do with the companies strategy to get these products to market. Everything they said they would do, they have done. The company has, to an outsider looking in, failed in the funding that they agreed to get momentum on the strategy. However, we don't know whether at the time this was a better option than placing. If agreement had come sooner for the GSX then we could've seen significantly lower dilution as the conversion and selling would've been at a much higher price. Hindsight tells us that they should've placed. Unfortunately, we can't go back in time and we have to call out that it was a mistake by the board. I'm still confident that VLRM will deliver on what they said they would, but it may take a bit longer to get there. Q1 should see alot of activity and revenue generation, which is always handy when looking at future funding or general company valuation. I think Q2 is when we start to see development of the expanded GSX as a digital trading platform. NFT Marketplace will need more clarity on funding and plan in general. Next News guess from me
Q4 - ME expansion funding deal
Q1 - Juno Deal
Q1 - GSX Deal
Q1 -NFT funding
Q1 - ME expansion deals
Q1- GSX conversion Plan
San
Their average must be around this level so they will want to see significant returns on that 5%. Means there is a level of confidence on this SP improving from here. Not sure what their target exit price is
San
Vidacos nominees limited… check out the register folks. Looks like we know who has been absorbing the shares. 5% ownership appeared. Looks like Citigroup are the parent organisation located at Canary wharf? Anybody with knowledge on this org?
San
Yup share transfer. Somebody / something is buying these sells up. Weird question but could it be an agreement with a new institution/ funding agreement that has agreed to buy up the shares off the CLN?
San
Yes he was there to have discussions with ME investment, but nothing guaranteed on outcome till we get an RNS. They also had discussions in London, so assumption was that the sign off of any agreement discussed in London would happen in ME visit. Again that is speculation from me and defo no certainty. Could be just a family holiday
San