RE: Over sold and solid31 Jul 2019 19:35
todays drop was simply an mm mark down on opening, there is no value assessment done by mm's , they simply apply a % drop and let the market trade away.....they will on occasions then 'control' price action if required to secure or off load stock...it can be clealry seen from todays trades there was no major sell off, buys v sells and any sells were taken up plus some......so we had an mm inspired drop, no sell off and sp recovered from the initial mark down in the 1.30p's!!
Frustrarting as such a drop is, the market was quick to buy up any stock and imo is a very good sign as was Tangent and CIP taking stock just before results, as stated earlier I would guess they did not invest such large sums of their own money on a whim or on hope alone......there are many 'popular' shares out there that have dropped a great deal more than 19% over past few weeks on selling pressure alone, ANIC -30% in six weeks, IMMO -35% six weeks, NFX -35% six weeks, etc. and folk are investing in them despite the losses....just an example of keeping things in perspective and no reflection on any of those companies.
Today's drop was not about selling pressure as detailed above, equally bbsn looks primed for a decent recovery from this level as they restucture and Tangent with 19% will no doubt assist in adding value to their investment etc.
Aim is a minefield at times but in attempting to look at the bigger picture, read between a few lines and join some dots we have a chance on occasions.....importantly it would be expected for BBSN to secure some new business going forward, todays rns was based on the known news for past 6 months, the key here for my investment and I'm sure the larger iii's, is the forward look as restructuring occurs and new contracts are almost certainly secured over coming weeks(note Tangents business model). Frustrating day, but that's Aim (and mm's are good at creating a market) ....