Chilltime.22 Jul 2024 22:43
Amazing post by Chilltime, written elsewhere.....
"Those 500k sells that you call them are buys, the share price direction tells you that.
It’s not necessarily someone supplying a 500k lump.
EG
X puts in an order for 500k, the broker fills the order by whatever means including multiple smaller buys available in the market. Typically the relevant broker sits on the bid.
Once the order is filled whether it took hours or days, it gets reported to the market, typically mid price and in the unknown column.
It’s perfectly legitimate under the rules for orders over the typical market size to be reported once they are complete.
There is no fee for each buy hence you’ll see multiple apparently very small trades, it’s just a collection system for anything hitting the price.
If selling 1 mill, 2 mill etc to a buyer that approached them that trade would appear as that amount once it’s completed, often double printed, shares in shares out, sometimes triple.
As the price is rising it suggests buying in the market, order in, electronically sweeping up sells. Others buy (private investors) in rising prices. It all depends how many the buyer wants and what price they are willing to pay for them.
It could be 10 mill then stop or the start of a large stake with plans to acquire Scancell.
It’s not unreasonable to speculate a pharma is buying, given the patent cliffs for those in Melonoma sector with Scib so far blowing their treatments out of the water.
Scancell could in theory, steal a $1.5 bill market right from under their noses. If Scancell do that, they potentially have the cash firepower to enhance patent cliff treatments with their platforms to become the standard of care.
Redmile and Vulpes saw this coming long before the rest. If the data hits the mark (it should) other big funds wanting larger chunks are already waiting in the wings. Lindy mentioned that point in an interview.
Interesting times ahead for investors and cancer sufferers"