6 unusual share trades on Friday afternoon 6/3/20: Possible reasons8 Mar 2020 07:53
On Friday afternoon there were 6 sell transactions totalling 12.5m shares, likely from the same shareholder, however it could have been two.
At 14:49 there were 4 large trades within a minute that totalled 4.7m sell orders
At 15:03 12 minutes later, there was a sell trade for 6m, followed by one for 1.86m shares
Remember, according to RNS 26/3/20 CLN partial conversion, the lender of the facility gave notice to acquire £1.44m of BPC stock, which they received under Ts+Cs that are not in the public domain, other than according to the same RNS, these shares came into play on Tuesday 3 March.
My assumption is the sell orders were from the Bahamian family lender. Which brings me to the following conclusions:
1. There is nothing to be alarmed about. If it was insider knowledge of something bad about to be announced, a lot more multiple >1m sells would have occurred.
2. On the assumption it was the CLN lender who sold friday, it shows part hedging yet confidence, otherwise it would have dumped all its shares.
3. It also shows confidence on the part of whoever bought the 12.5m shares, and if no one bought them, it shows confidence by the MM (or MMs as there are 7 creating liquidity for BPC…refer to 2nd level console..) …who are holding these stocks with the belief the price will be higher when eventually sold.
4. If you strip out the above 12.5m from the 18m shares traded Friday, the net volume was low and it included some large buys of 2m and 500k. This shows even greater confidence and public appetitie that the 4.9p resistance will be tested soon.
Bottom line: IMHO, there is nothing to panic about and regardless whether a positive RNS is issued Monday. I think, and I may be wrong, the share price will do well Monday or Tuesday with or without RNS. If it does not, I will buy more.
Please do not rely on my opinion. It is always advised you do your own research.
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