Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Last day of H1 as well so a lot of account balancing and positions being winded up by the II’s. Surprised at the drop, still a large free float of PI’s who are twitchy. If there is anyone serious in the background they should show their hand, but we won’t know until the after hours print and the UT.
@West: A one Million pound sale/Buy is not an unusual occurrence on the ASOS tape. A couple of weeks ago the UT was 9 Million pounds and over the last 10 trading days, there have been plenty of 800k-1 Million sales. It wasn’t the value that moved the price it was the RNS. The MM’s knew that the market would be spooked and took advantage of it. Yesterday was a positive day and the sale didn’t make us go red. Every sell is a buy and every buy is a sell, although, I am certain MM’s are loading up their books for someone.
Nowt but Retail PI hysteria. When the RNS broke the SP was 402.70p. Looking at the trades they were all retail following the announcement. To the novice when an NED sells, it means the business is going bust. He needs the cash so he sold a few shares and the resulting action was a 6% fall. It is not Armageddon, it’s MM’s shaking PI’s out of shares. A 6% fall for a FTSE small cap is no big deal. Watch this bounce 5% tomorrow before 9am.
Wait until the 28th of July, the figures will do all the talking. With Oil heading back down to $70, and travel not looking like retreating anytime soon, this is a great environment for running an International Airline.
@BB: The majority of those trades were executed today before the market closed, they are delayed trades and posted after the close. I agree with the previous poster a lot of buying is being executed by MM’s, they can hold a lot of stock, I remember some years ago that they could hold up to 4% of issued share capital, which is a fair bit of stock. Not suggesting that, but in the absence of TR1-s they must be mopping up, but for who and why?
I agree it is strange. The positive factor is that the cornerstone holders are not selling. I thought that the maximum time you are allowed to post a TR-1 is 72 hours, excluding non-market days. I guess if there is no TR-1 tomorrow, I will have to eat my slippers as stated.
Obviously, the delayed 3 x 1 Million orders were likely responsible for the lift late morning, early afternoon and then taken down for the UT. Where are the TR-1’s? Who is buying and selling these shares?
@karl: if i was relying on ma to save us now, i wouldn’t be holding 20k plus shares. i hold the shares as i believe asos can trade out of this and that the macro head-winds will decrease. the management seemed to have got their **** in gear and doing the simple things right that make a difference. the share price will go up when it is ready to go up.