RE: Level 21 Jun 2024 13:10
If I am honest, with the volume we have had which has been massive for GCM over the last 4 months at over £20 million pounds, I thought the subscription shares would of been done with a while back, but after reading Positive2021, posts I questioned myself, so today I have gone back and looked again in more detail in a very simplistic way, which shows that there may actually be nothing sinister going on in the background at all, and that its just taken longer than we all anticipated for the latest fund raise shares to be worked into the market.
Here is a breakdown on my thoughts and as I say, it is a very simplistic way to look at it, but there is a big difference between the two fundraisings that we have had, even though the amount of shares involved was roughly the same.
The first fundraise was on 2nd February 2024.
Fundraise was for £500K at a price of 1.65p and was for 30,303,040 shares
The shares entered the market on the 2nd Feb 2024 and although the subscription was done at 1.65p, at no time did share price drop lower than 1.90p, after around 80 million shares had been traded, on the 28th February the share price then rose very quickly within a couple of weeks and on the 13th March hit 9p
The second fundraise was on the 16th April 2024
Fundraise was for £2 million at a price of 6.5p and was for 30,769,230 shares
This fundraise however has acted slightly differently, and obviously at the higher price has taken longer for the shares to be distributed into the market.
Between the 16th April to the 6th May the share price remained above 6.5p placing price and 40.2 million shares were traded.
Between the 7th May to the 31st May the share price has traded below the 6.5p placing price but not lower than 5p and 54 million shares have been traded.
Just because the SP has traded below the 6.5p placing price does not mean that they have still not been selling them into the market, because the MM will be looking at an average price return, (obviously I don’t know what that is) but I have now satisfied myself that with around 94 million shares traded since the placing, there is actually nothing sinister going on in the background at all, and as Positive2021 has been saying all along, it has just taken longer to for these shares to enter the market than we anticipated…
The good thing is imo is that we must now be very very close, and then there will nothing stopping us from starting our journey into double figures very very soon … especially with some positive news behind us!!
GL all 😊
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