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£32.00 sold and SP goes down 8+% ridiculous
I don't think the bid or ask changed from open so mid is still the same but looks like the UT trade pulled us down.
Up 5.88% on the other side though.
https://www.lse.co.uk/ShareTrades.asp?shareprice=PXS.GB.PL&share=Provexis-Plc
Thanks, but still pathetic!!
Responding to the headline price shown on here doesn't help your mood, so why not take a moment to study the trades, then you'll see that the sp rose slightly yesterday, due to MM's raising the Bid. At this time, with almost no trades, only the small adjustment non trades, the Bid and Ask are the only indicators of where MM thinking may be. They raised the Bid incrementally last week, keeping the Ask static. You may read this as meaning that they are slightly keener to buy shares than to sell them. MM's can, and do, short shares, hoping to push down the Ask and buy in shares to balance the books over a period. If no-one is selling, they have a problem, and have to raise the Bid. If still no-one sells, they have a real problem, but then they can go long, still without actually owning shares. Very complex, I'd still like to see a definitive cause of all those tiny trades.
All of the studies, and the continued mention of further brand take up, indicate to me that Fruitflow is still in the foothills of global development. I didn't know how long this would take. As far as I can assess, neither did anyone else, including the BoD and DSM/By Health. But we are getting there. IMHO
Thank you, very well explained
Alfista,
You have explained the concept very well. However, the thing that I have never understood is the size of the bid offer spread that they use.
For example, the price quoted yesterday was: Bid 0.84 and Offer 1.0. The Bid/Offer spread was 19%. In fact, if you tried to trade yesterday (as I did) you will have noted that the actual trading prices were: Bid 0.84 and Offer 0.95. The actual Bid/Offer spread was 13%. However, I was completely put off trading because I didn;t want to look at an immediate 13% loss in the value of my investment.
Whichever you consider, the Bid/Offer spread that is quoted is still far too high to encourage investors to trade - and for the last week certainly there has been minimum volume whilst the spreads have been that wide.
On the other hand I have plotted significantly higher volumes when the spreads have been tightened.
Surely the MMs job is to encourage volume - they won't make any money unless shares are trading and we won't get a liquid market in the stock until that happens.
Again, my reading of this is that the trades rarely take place at the extreme low or high points, but when they do it indicates to me where the next movement will be. With so large a spread there's nothing of interest for short term traders. This causes much lower volumes, meaning the MM's make very little income on trades. Bear in mind that each MM is trading hundreds of different shares, so having no turnover on any particular one doesn't trouble them. You must have noted that they try to anticipate major events such as scheduled updates, probable funding calls etc and move up or down ahead of what they think may happen. In that sense they are acting as traders do. If they have a big buyer, they know that and we don't, so they'll raise the Ask beyond what others want to invest at, and move the Bid around to try to accumulate the shares to fill the buy order. Alternatively, they can fill the order with shares they don't have, then drop the Bid sharply to trigger stops or panic sells. Nasty for us, but all in the game to them. MM's have much more power than PI's except in the case of a strung bull run, when they can be severely embarrassed. The famous case in US is an example, although I suspect that there were a few main actors whipping the gullible in to a frenzy.
I met a guy a while ago who worked in the markets sector for a major bank. He told me that most folks on the inside see PI's as mugs, to be separated from their capital whenever possible. It's for us to decide our actions in light of that knowledge IMHO