The amount of emphasis put on renewable energy and sustainability was very encouraging! Really sounds like they are mobilising, and will want to deliver some 'quick to be seen' changes in the energy space.
Incidentally I was also 'introduced' to this stock by someone on another board. Since it's someone whose opinion I value, I thought I'd check it out. This is a great board BTW, some great posts and insight!
Actually could it be some sort of manipulation, ie. someone with a large holding selling off little by little to drive price down, and then buying back in once the price is down and driving it back up?
Apologies as this isn't related to ALGW (although ALGW does feature), but hoping I might get some insight from the folks who frequent this 'active' board, as the share this is related too has a dead BB (I've already tried engaging with people on that with no luck).
Essentially I found a company several weeks back that has had some good RNS releases recently. Thought I'd take a punt and bought small number of shares. From observation it has a low trade volume (5 a day sort of low). For the past week though the SP was slowly drifting lower as there were far more sells taking place. A lot of these sells 'mirrored' each other in that they were exactly the same volume size and rounded numbers, eg. 5x10000 in a row. So guessing these were some large sells which where broken into smaller transactions.
Since ALGW is a bargain at the moment IMO, I figured it would be a good time to snap some more up. In order do this within my maxed out Stocks and shares ISA, I had to sell something else. Since the share in question was continuing to drift down, and the next resistance point was a fair bit lower, it got the chop. This is where it gets interesting...
Literally hours after selling (my luck), the largest single buy I've seen in an AIM share happened - £302.50k. The SP obviously perked up several percent because of this.
So my question is what would typically be the explanation for such a large single buy? - enthusiastic PI with a lot of money? Unlikely in my opinion. - institutional investor. Seems the most likely option I can come up with. - director buying shares in open market. RNS would confirm, but how soon after transaction would they need to post that (buy happened yesterday afternoon)? - company SAYE scheme. Are these type of buys done on the open market?
I'm sure there are lots of other things I haven't thought of, which is where I would appreciate your input. Basically I'm thinking it's a positive sign, and that I should shuffle some of my other shares (not ALGW), in order to free up some £££ to get back in. Hence wanting the opinion about significance of such a large buy from those of you with a more in-depth market knowledge. Is something like this generally a precursor to something?
Any which way, once the SPV has been signed people will likely pile back in. How many do so before the signing with a view to beating the herd verses those who wait until it's announced remains to be seen.
The fact that they included the line about the facility for the Warehousing SPV being finalized should hopefully reassure some of the people who were jitterish about that. Sure without including an exact time frame the short term traders will be deterred somewhat, but those with a bit more patience who might have been shaked out might start getting back in.