Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.
Sorry don't understand 141.34 for 250,000 shares link?
Wouldn't mind going halve's with Dan and taking a couple of million shares to get this going. A big director buy would really stir up the pot right now, IMO, and I would love to go with it. Somehow LLoyd's went up today so I have a lot of punting vouchers if required. The more I look at this the more I think I should have a balls deep investment as I have already gone out on a limb with over 200k shares when it was, and really still is, a small bank in trouble, but I think it may be about to come good, hopefully sooner than later.
Cud, turnover still low compared to the regular 4 to 5m a day in November and one 10m day in December.
1.6m is still not any real action going on, but if I wake up and we are up again and we are up I won't be able to help myself but buy a few more.
How many shares do you think the market makers are sitting on before they have to find more on a company this size? although may not matter as they can probably get a few from GS.
I don't think you are allowed to squeeze shorts, look at Gamestop where virtually all dealers will not allow buyers and together with all the spoof TV news, silver etc, and spoofing bots, the price has been manipulated down.
Corruption is rife at the highest level, which will come home to roost one day.
Prognostic, on your point about IG being unable to hedge, I understand that for options and CFD's etc but if I just want to use them as a broker to actually purchase my shares with cash in my account how can that be a hedging problem? If the shares go to zero my cash has gone and IG have no loss. Are you saying they cannot go to the market to actually buy any shares on behalf of their clients when there a millions of them being traded each day, so they are running the upwards risk?
Secondly, most traders on IG are long not short, so turning off the system is mostly against long not short.
Thirdly, and I am probably wrong on this as the big traders no doubt win, I don't like a business model where you will in effect churn the 75% of your customers that lose money as there are much more serious sums involved than punting at the bookies, where you will also lose money.
I’m with you on that. So hedge funds are allowed to short 140% of a companies shares, wow what regulation there! and when they get caught out taking the **** and in cahoots with all their mates, IG decide to back them up rather than allowed their loss making client base to extract every dollar from them before they go bust.
Big finance looks to be absolutely corrupt against the small investor.
So who are the large investors on IG’s share register that they are protecting by shafting their clients by making heavily shorted stocks sell only for private customers, even if you don’t require margin? This has to be corruption of the highest order and I hope they get embroiled in the class action law suits flying around following this manipulation by the likes of Robinhood. Looks like Robinhood will soon be toast as they have shafted over half their clients, but are owned by the shorting hedge funds so have to be in cahoots with them.
75% of IG’s clients lose money and a lot are new this year so they will largely die off. I am currently a large user of IG but have been in the money so they probably don’t want my business anyway, but I am going to open an account elsewhere and move on.
Why don’t IG ban their clients trading any stock above a PE ratio of say 100, as they deem it bad for them? Why because it’s great for their business and banning just the heavily shorted shares is for other unknown reasons but we can guess why.
I hope their client base dwindles and over the last few days their site has been crashing for long periods so there will also be a lot of complaints from traders unable to execute their trades and maybe no doubt 75% were losing bets that got worse!
That is exactly the point, regulation is non existent and they have just taken the **** and been caught out.
What I think is wrong are the likes of IG fixing the market so all the thousands of investors who are about to have their day in the sun with an astronomic price, at least for a few minutes, and although many of them will never get to see it they will have pulled out billions from the shorting hedge funds on the way. Regulation changes will mean that they will just lose with no day in the sun, and that has to be wrong.
I actually think there are some big funds now taking over and going after the shorts so the retail investors, albeit this is what all the news is about, are being side lined. It is a rare opportunity to see the shorters backed into such a corner that they just have to be squeezed and it will not take much from here. I think six million options triggered in the money on Friday so someone needs to buy these on Monday and Tuesday with or without trading restrictions so we will see.
How can you argue that restricting market access to shares makes sense when everyone knows the valuation is not what is in question here, it is the fact that the hedge funds have to buy back over 100% of the shares at whatever the value hence the squeeze. There are some big funds now joining the private investors as they see this as a one way bet, I think the private investors only own 10% of the shares. Was oil ever worth minus $47 a barrel!!?
My problem is that many investors can buy options or actual shares without anything to do with margin calls, like myself, so why am I not allowed to buy shares on Monday to support the shares I already have.
I agree, if on margin, I wouldn't want to be lending that out to traders either, but not on margin trades being banned is pure market manipulation. What the hell do they think is going to happen if you close a market to buyers and only allow sellers, and this is meant to be a free and open market.
I agree that GS will implode in the long run, but we should get to see the overleveraged short sellers go under first and have all the long investors taking all their money. They deserve their day in the sun.
Think about it, the hedge funds were allowed to short 140% of the company, and now the rules are being changed to shaft the people who have gone after this absurd situation and protect them.
The entire situation has been caused by the hedge funds thinking they can walk on water and overleverage themselves to push Gamestop into insolvency. It is a sad day now they are being let off the hook by penalising all the individual investors. As far as I can see this action will do nothing other than strengthen their cause and there will be a huge wave of investors doing whatever they can to join them over the next week. I am going to buy more if I can and I am already waiting for a response from IG on what they think they have done to my original purchase. On the IG chat a lot of FCA complaints are flying in.
Just got an email from IG stating they will no longer allow me to buy shares in heavily shorted companies like GS, but they will allow sellers, and this is not just for geared CFD's its actually for buying the shares as well. Will they ban buying Metrobank next to support the likes of Odey if the price bounces?
Looks like all the dealers are now in cahoots to support these short selling hedge funds and that cannot be anything but open fraudulent behaviour in my book.
Something is going on as a lot of sites are down preventing buying.
I guess with the legal action and fall out in the USA with sites banning buying but allowing selling to protect the shorts it's better to turn the entire site off and have it as a technical problem!
Fancied some NCYT today after the crash, but maybe it has just crashed as buyers cannot get in.
Probably best to buy some Gamestop shares to get in on the short squeeze as I don't think there are enough shorts on Metro to have the same effect, and they would be able to ride it out till they choose rather than being forced to sell at a crazy price that is just a market anomaly. Or rather a lack of regulation allowing 140% of a company to be shorted.
How did oil sell at -$47, a similar anomaly where traders got caught short and had to sell at all costs or pay to actually receive the oil, so they were in effect paying $47 to get rid of their bets.
That being said, Metro is way undervalued, in my book at least, and I would be all in on a movement to simultaneously buy shares, but it would be no short squeeze and a £100b valuation for a day or two, but it could get up to maybe £2b?? which is a more realistic valuation than £220m.
That's my take on it and I'm off to watch Gamestop opening trades today.
Matlot, I hope your wrong on Gamestop, as the banning of buying shares for retail, only selling allowed, has to be corrupt,and this happened just as the shorts piled in - all in cahoots or what! Yes as the losers own the trading sites.
I took a punt in the dip, got lucky so far, IG was still trading, not really because of the likelihood of winning, but more against the corporate corruption, and I think a many more will do the same.
The regulators should be looking at the hedge funds who somehow, can't be legal in my book, managed to short 140% of the stock. WTF! There have been some traders going after this naked short for a while now and at last they have the muscle. Good luck to them and they have my helping hand.
This could fly tomorrow as the hedgies need to buy to cover some options, I hope it does, but when this does implode, which it will, many of these new retail investors will have lost all their cash.
New stimulus cheques coming out soon so maybe they can recharge and come to help us out in Metroland!
Every day there is an end of day UT with a 1 or 2m pound buy / sell which does look like someone is slowly building up a stake here.
AFB is a great company and is nearing its 300p low, so providing they don't have a problem in their annual results due out next week, either from further contingency losses, or cyber ransomware that could cause a gap down, I at least will be topping up.