RE: Drop11 Jun 2018 22:19
I expect there were quite a few new long positions chasing the rise prior, then the RNS came after hours, this prompted a number of stop sells placed which were triggered below their non guaranteed price. A bit of a sale stampede happened, as people closed out in mild panic, or had missed margin calls and had positions closed. Of course, there appears to be buyers, so a drop in price was welcome.
It was quite structured and simple imo when it happened. Anyone selling into that RNS was always going to lose money. The only way you make money is to buy in that scenario. The algos probably took it down further, than expected...and here we are at 210p