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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Global Marine | GME | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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| 0.00 | 0.00% | 15.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 15.60 | 15.60 |
| Top Posts |
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Posted at 02/2/2021 09:56 by shellback Spread betting is easiest for a retail investors. Careful though if you are new. This could be crazily volatile. Too much risk for me to get involved but I’m enjoying the story from the sidelines. Don’t wish to patronise but learn about margin before you do anything. |
Posted at 28/1/2021 23:09 by spob Anger as brokers curb retail investors’ bets on GameStopRobinhood says limited trading to resume on Friday after rebukes from users and politicians Madison Darbyshire and Philip Stafford in London 28 January 2021 Financial Times Online brokers clamped down on retail investors’ bets on several highly popular but volatile stocks on Thursday, locking traders out of the market and drawing sharp criticism from some users and politicians. Large US brokers, including Schwab and Robinhood, curbed trading in shares including the video game retailer GameStop, cinema chain AMC and tech pioneer BlackBerry, sending them all sharply lower. GameStop was down 44 per cent, for example, and AMC closed down 57 per cent. After the market closed, Robinhood, the online app synonymous with the rise of the retail trader, wrote on its website: “We made a tough decision today to temporarily limit buying for certain securities. As a brokerage firm, we have many financial requirements, including SEC net capital obligations and clearinghouse deposits.” It said limited trading would be allowed to resume on Friday. The developments were the latest in a dramatic week for the US market, in which the biggest brokerages and apps for retail trading faced intense demand from users in a battle between day traders and professional short-sellers that has generated record trading volumes on Wall Street. This was always how it was going to play out. They can change the rules any time they want. They don’t lose. - Retail investor The brokers’ trading curbs triggered a furious backlash from some customers. Within hours, a Robinhood customer filed a class-action lawsuit against the group in federal court. The legal action claimed Robinhood “has completely blocked retailer investors from purchasing [GameStop] for no legitimate reason”, alleging that the user “like so many others, lost out on all earning opportunities” The row also united rival politicians, the Democrat New York congresswoman Alexandria Ocasio-Cortez and Republican senator Ted Cruz. “This is unacceptable. We now need to know more about [Robinhood’s] decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit,” Ms Ocasio-Cortez said on Twitter, to which Mr Cruz replied, “totally agree”. Robinhood declined to comment both on the lawsuit and Ms Ocasio-Cortez’ Robinhood doubled the amount of money that customers must stump up to extend their trades in GameStop, AMC, Bed Bath & Beyond and Koss. It also restricted investors from taking out new positions in a small group of shares. IG Group also raised margin requirements for GameStop shares. Interactive Brokers, which has more than 1m customers, restricted investors from new trades in GameStop and raised margin requirements for taking out options on several shares, including AMC and BlackBerry. “We’ve had discussions as to how to manage our risks as brokers. We have to be cognisant of our customers’ risk, particularly those who are using margin,” said Steve Sosnick, chief strategist at Interactive Brokers. “We are having conversations about this now.” Broker eToro notified clients after the market close on Wednesday that it would not accept orders to trade the game company, among other shares it considered “low liquidity”, while TD Ameritrade and its new owner Charles Schwab both placed restrictions on new purchases of GameStop and AMC stock, as well raising margin requirements for certain trades. The move reflected “an abundance of caution”, the companies said. “It is not uncommon .&th Some retail investors reacted angrily. “You sell, the short sellers get their profits .&thi “This was always how it was going to play out. They can change the rules any time they want. They don’t lose,” said another. Platforms have urged their users to be cautious. “Whether or not we are in bubble territory .&t But retail enthusiasm shows no signs of slowing down. On January 27, Robinhood recorded its highest ever number of downloads from the US iOS app store, with 120,000 downloads, according to data tracker AppTopia. “We simply don’t know when this will end,” said Rich Repetto, an analyst at Piper Sandler. While volumes may fall back, “we also feel that zero commissions are here to stay and it appears an entire generation has been introduced to retail trading”, he added. |
Posted at 28/1/2021 04:45 by sunshine today Morning.What, If the Robin Hood investors, across the pond , hit London in the next few days, with the same tactics, targeting tiny micro stocks, just like LSAI. ? Those that have pitiful market caps, cash on the books , and real businesses . 22M plus Robin Hood investors, first piled into Bitcoin over Xmas, then went for Wall Streets most shorted shares , and yesterday piled into the Wall St Micro Caps. The one common theme, is the wall of money, that drowns out everything else. |
Posted at 28/1/2021 01:34 by spob Hedge funds feel the heat as Pearson catches day-trader feverBearish bets unwound as US exuberance crosses the Atlantic Bryce Elder Lombard Financial Times 27 January 2021 It is a measure of dysfunctional markets that day traders delivered a bigger return for Pearson shareholders within 90 minutes than John Fallon ever managed in seven years as chief executive. An early morning pile-on lifted shares of the textbook publisher by nearly 20 per cent to their highest since July 2019. Had the long-rumoured private equity bid approach finally arrived? It appears not. Instead, Pearson was one of a handful of companies to catch the secondary effects of stonk-mania, the US-led fashion among retail investors for using collective brute force to soak up liquidity and pressure short-sellers into closing their bets. Cineworld and Petrofac caught the same bug, as did J Sainsbury. A cinema chain, a refinery engineer and a grocer have little in common other than being among the most heavily shorted stocks on the London market, with Financial Conduct Authority data showing 8 per cent or more of their total share capital out on loan. It is too easy, however, to write off these moves as a direct consequence of investment gamification via internet message boards and commission-free trading apps. Stock markets remain a niche pursuit for Britons, who have free access to many other forms of legal gambling, and the social media chatter on Wednesday gives no hint of a cross-border mob assembling that would have the heft to move FTSE 100 stocks. Yet more than 6m Pearson shares changed hands within the first three hours, about treble the daily average. Instead, events on Wall Street appear to have triggered a broad and undifferentiated risk-off trade among hedge funds. Very few will have direct exposure to the likes of GameStop, a flagship investment for the day trader armies. But after Melvin Capital Management required a bailout for being on the wrong side of the GameStop trade, fellow hedge funds are facing higher borrowing costs and more constraining volatility metrics. Do not expect much sympathy for the short-sellers. They make convenient villains, particularly on the internet forums that set the current mood. Yet in a market powered largely by algorithms and technical signals, the bears play a valuable role in improving corporate transparency and accountability. Financial incentives have helped expose numerous frauds, from Enron and Wirecard to NMC Health, as well as putting pressure on countless other companies to clean up their operations. It is hard to know exactly how much credit to give the amateur trader armies for each day’s gyrations. Nevertheless, their involvement is making life more difficult for the investor class working hardest to keep markets honest, which is an unfortunate unintended consequence. |
Posted at 28/1/2021 01:05 by spob ‘Short squeeze’ spreads as day traders hunt next GameStopWhite House is ‘monitoring the situation’ after surge in targeted stocks on both sides of the Atlantic European companies targeted by Reddit traders include Poland’s CD Projekt, maker of the Witcher series of video games, the pharmaceuticals group Evotec and the battery maker Varta Robert Smith, Laurence Fletcher and Madison Darbyshire in London and Eric Platt in New York Financial Times 27 January 2021 A “short squeeze” that started on Wall Street swept across the globe on Wednesday, triggering another day of frenetic moves in the share prices of companies with large bets levied against them. The White House press secretary Jen Psaki said the Biden administration was “monitoring the situation” as shares of companies including GameStop, the hard-hit cinema owner AMC and BlackBerry surged in a volatile day of trading. The dramatic moves highlight the growing influence of retail traders, who have organised on the message board site Reddit. The group has focused on pushing up stocks that are the subject of large short bets by hedge funds. Their success in rallying the stock price of GameStop has vindicated a group now targeting companies on both sides of the Atlantic. Stocks such as US home goods retailer Bed Bath & Beyond, Finnish telecoms group Nokia, German pharmaceuticals company Evotec, former Financial Times owner Pearson and Polish games developer CD Projekt rose sharply in intraday trading. Shares in AMC, which earlier this week clinched a rescue financing, rose 301 per cent on Wednesday, while the retailer Express more than tripled in value. GameStop, which has been at the centre of the retail trading bonanza, shot up 135 per cent. We are recently detecting some European stocks being touted as 'the next GameStop’ among retail investors Ivan Cosovic, Breakout Point The gains stood in stark contrast to a broad market decline triggered by concerns about the rollout of vaccines and pandemic risks to the economy. The US S&P 500 index and tech-heavy Nasdaq Composite both slid 2.6 per cent. “It’s like a wolf pack seeking out the weakest member of the herd,” said Steve Sosnick, chief strategist for Interactive Brokers. The flash rallies prompted TD Ameritrade to put trading restrictions in place for several securities, including GameStop and AMC. The company said the limits could include restricting short sales or requiring 100 per cent margin for certain trades, moves it said would mitigate risks for itself and its clients. “We made these decisions out of an abundance of caution amid unprecedented market conditions and other factors,” the brokerage said. The Securities and Exchange Commission on Wednesday said it was aware of the volatility across equity and options markets and it was “working with our fellow regulators to assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants”. William Galvin, the Massachusetts secretary of the commonwealth who last month sued the trading platform Robinhood for “gamifying&rdq Some of the companies whose shares surged were targets of Melvin Capital, a hedge fund that has been singled out by day traders. Those included Evotec, which was up 9.6 per cent; CD Projekt, which rose 5.3 per cent; and the German battery manufacturer Varta, which rose 12 per cent before trimming its gains to trade up 6.2 per cent. Melvin on Wednesday revealed it had closed its GameStop position, having sustained a multibillion-dollar loss on its shorts since the start of this year. Retail investors are using “a tried-and-true hedge fund strategy of swarming crowded trades held by weak-handed investors”, said Andrew Beer, managing member at fund firm Dynamic Beta Investments. In contrast to the US, which has limited disclosure on short bets, hedge funds and other investors have to disclose when they have shorted more than 0.5 per cent of a company’s stock in the EU and the UK, making it easier to target a fund’s positions. Melvin’s latest disclosure shows it has bet against more than 6 per cent of Evotec’s shares, making it the largest single wager against a European company by percentage of shares shorted, according to the data provider Breakout Point. The US hedge fund’s bet against Varta is the fifth largest. The “short squeeze phenomenon fuelled by retail investors’ discussions is spilling over to Europe”, said Ivan Cosovic, founder of Breakout Point. “We are recently detecting some European stocks being touted as ‘the next GameStop’ among retail investors.” The targeting of hedge funds will be viewed with irony by many financial market insiders, given that such funds are often the protagonists in short-selling attacks on troubled companies. Heavily shorted shares with no link to Melvin also rose on Wednesday. Shares in Pearson, the British education publishing company that is the third-most shorted stock in Europe, according to IHS Markit, climbed 14 per cent to close at its highest level in 16 months. Daniel Sundheim’s New York-based hedge fund D1 Capital Partners, which has also been shorting Varta, has the biggest bet against Pearson, at 3.8 per cent of its share capital. The real estate company Wereldhave, in which Woodson Capital has disclosed a 4.2 per cent short position and London-based Adelphi has a 3.6 per cent bet, rose about 5 per cent. Hedge funds in Europe are now fervently scouring lists of most-shorted stocks and message boards such as Reddit for any signs that their short bets could be in trouble. “Any good hedge fund group will be looking at this,” said the head of one multibillion-dollar European hedge fund group. One European hedge fund manager who specialises in short selling described the recent stock market rallies as “insane” Additional reporting by Patrick Temple-West |
Posted at 27/1/2021 22:26 by spob How GameStop found itself at the center of a groundbreaking battle between Wall Street and small investorsThe video game retailer has become one of the hottest stocks this year in a tale that illustrates the changing face of investing Edward Helmore in New York Wed 27 Jan 2021 The Guardian The coronavirus pandemic hit GameStop hard. Like many retailers, already suffering from the shift to online sales, the video games chain is losing money and plans to close 450 stores this year. And yet, surprisingly, GameStop has become one the hottest stocks of the year. The 37-year-old chain store group is now the focus of a David-and-Goliath battle between an army of small investors and Wall Street that shows no signs of abating and has highlighted some fundamental shifts in investing. Last April, when the company announced mass closures, GameStop’s shares (GME) could be bought for $3.25 each. On Tuesday they soared another 92% to end the day at close to $148, pumped up again by small investors hoping to ruin Wall Street bets that the price would crash. It’s a bet that has, so far, proved very costly for the professional financiers. The strange saga of GameStop’s cult status can be traced back to last September, when Ryan Cohen – investor and founder of the online pet food giant Chewy – took a 13% stake in the retailer and started lobbying for it to move more of its business online and become a serious rival to Amazon. Cohen and two associates were added to the company’s board in January. The company’s share price began to soar as small investors snapped up a cheap stock using the trading app Robinhood and other services, seizing on what they saw as an ideal buying opportunity. Wall Street saw something else – a chance to “short” an ambitious bet against Amazon they believed was bound to fail. Shorting a stock is risky. It involves “borrowingR About 71.66m GameStop shares are currently shorted – worth about $4.66bn. Year-to-date, those bets have cost investors about $6.12bn, which includes a loss of $2.79bn on Monday. Monday’s stock gain of 145% in less than two hours, which extends GameStop’s gains for the year to more than 300%, is the latest sign that frenetic trading by individual investors is leading to outsize stock-market swings. On Tuesday, the party continued. When, and how, it ends is anyone’s guess. GameStop has been the most actively traded stock by customers of Fidelity Investments in recent sessions, with buy orders outnumbering sell orders by more than four to one. The volatility prompted the New York stock exchange to briefly halt trading nine times. “We broke it. We broke GME [GameStop’s stock market ticker] at open,” one Reddit user wrote on Monday after the NYSE halted trading. Ihor Dusaniwsky, a managing director at the data analytics company S3 Partners, called the situation “unique” “Much like the revolutionary war, the first line of troops goes down in a rain of musket fire but is replaced by the troops next in line,” Dusaniwsky added. The battle has become a war of attrition between a new generation of investors and established, more diversified players. Investors on the WallStreetBets subreddit forum have been promoting GameStop aggressively, with many pitching it as a battle of regular people versus hedge funds and big Wall Street firms. “This is quite the experience for my first month in the stock market. Holding till infinity,” posted one user on the thread. Another user said: “We’re literally more powerful than the big firms right now.” In some cases, they’ve been right, with larger investors like Citron Research taking a sharp lesson in what can happen when “herd investors” squeeze a stock higher. Citron’s founder, Andrew Left, called GameStop a “failing mall-based retailer” in a report earlier this month and then predicted that the stock would plunge to $20 in a video he posted to Twitter on Thursday. According to CNN, Left has now given up on shorting the stock, citing harassment by the stock’s backers. ‘We broke it. We broke GME at open,’ one Reddit user wrote on Monday after the New York stock exchange halted trading. Photograph: Richard Drew/AP Another loser is Melvin Capital Management, a hedge fund that has lost 30% of $12.5bn under management this year on a series of short positions, including exposure to GME. On Monday, Citadel LLC and its partners announced it would invest $2bn in Melvin, and Point72 Asset Management (the New York Mets owner Steve Cohen’s firm) would invest an additional $750m on top of $1bn already in the fund. “As someone who started trading stocks in the late 90s in college, I would always remember watching when the small retail trading groups would get crushed by hedge funds and savvy short-sellers,” The battle has spread further, with some accusing the financial media of backing institutional Wall Street players. In an open letter to CNBC, one Reddit user wrote: “Your contempt for the retail investor (your audience) is palpable and if you don’t get it together, you’ll lose an entire new generation of investors.” But others warned that conditions represent market intoxication. “This is the new day and age in which no one listens to the analysts: ‘Why bother, let’s just go out and buy it ourselves?’ The short-squeeze war over GameStop stock is just the latest in a series of conflicts perhaps exemplified by the war over Tesla stock. Last year, short-sellers of the electric vehicle maker lost $38bn, which S3’s Dusaniwsky called “the largest yearly mark-to-market loss I have ever seen”. It is too early to say how long the GameStop saga will continue, or how it will end, but some analysts believe both sides in this skirmish could learn some hard lessons. “I think the millennials will temporarily be rewarded, and a short-squeeze is definitely conceivable,” the investor Erika Safran at Safran Wealth Advisors said. “The stock can get pushed up so that at some point the short-sellers will fold and make the stock go higher. Eventually, it may trend down to the fundamentals of what a stock like this is willing to accept.” Safran has in the past warned that Robinhood, the vehicle many long-investors are using to make trades in GameStop, is behind investment strategies that financial planners generally warn against. “It’s ironic to me and other professional advisers that over decades we have moved away from an individual stock-picking philosophy to broad stock diversification, and this is the exact opposite,” Safran says. “Investing is not just buying one stock.” Safran says the strategy of driving up a stock in the hope of forcing a short-squeeze and riding an a individual stock are hallmarks of a conflict between the new, individual investment strategy and the old guard that recognized financial success requires diversification. “Someone’ |
Posted at 14/4/2008 07:36 by murtceps7 Thats the AIM for you. The chances of finding a legit management working for its investors is slim.This lot got away with murder and at our expense !! its a shame there is no regulatory body to watch and act on companies like this. I have sold out at 15.5 over the last few weeks because i wouldnt put it past this crowd to do something stupid even now ! |
Posted at 05/2/2008 12:46 by the_owl ssur, agreed.However the flip side risks are: 1) EGM is pretty near the interims (we know working capital will make delivery difficult) - postponement by even a week would incur risk that interims disappoint, and who knows what schemes may be cooked up behind closed doors to get shares cheap. No wonder Fairfax want to get the deal away fast. 2) Waivers may not be obtained from HK 3) Buying now might find investors left with a 14p-17p/18p spread .i.e. difficult to sell. 4) Buying now with long-term in mind could leave investors with HK listed shares - not sure what EMER's plan is here though? Be alright for Gartmore et al who probably have a buyer for their shares, but risk profile means on this IMO better be out wishing I was in if/when the action happens, than in wishing I was out. Difficult to call, but therein lies the punt, the risk & the fun of GME ... Good luck all. |
Posted at 12/9/2007 13:11 by pomp circumstance posting this for future ref should Falcon come into the picture!Alltrue Investments - New Stockbroking Business RNS Number:6395S Alltrue Investments PLC 09 March 2007 ANNOUNCEMENT 9 March 2007 ALLTRUE INVESTMENTS PLC NEW STOCKBROKING BUSINESS Alltrue Investments plc ('Alltrue') is pleased to announce the establishment of a new stockbroking business, Montague Pitman Limited ('Montague Pitman') which has obtained regulatory approval to act as an appointed representative through Alltrue's wholly owned stockbroking business, Falcon Securities Limited. Montague Pitman will initially be owned by Alltrue (57.9%), external founding investor's (33.4%) and the balance held substantially by the founders of Montague Pitman who have been granted options to subscribe for further new ordinary shares in Montague Pitman provided certain performance targets are achieved. If all targets are achieved and all performance related options are exercised then Alltrue's interest in Montague Pitman will reduce to 51%. Blue Chip Consult, a BVI registered company controlled by a private investor, has taken a minority stake as the main founding investor (the 'main founding investor') for a £250,000 investment. The £250,000 is made up of a loan of £100,000 and a convertible note of £150,000, the former being repayable after 5 years and the latter being convertible at any time into 25,000 new ordinary shares in Montague Pitman, which shares represent 28.4% of Montague Pitman's share capital; or 25% if all performance options are exercised. In recognition of this financing commitment from the main founding investor, Alltrue have granted the main founding investor a warrant to subscribe for 5 million shares of Alltrue at 0.5p until 31 January 2012, which price represents a 43% premium to last nights closing price for Alltrue shares of 0.35p. The warrant represents an entitlement to approximately 1.8% of Alltrue's fully diluted share capital. Montague Pitman has been founded by Richard Beese, David White and Thomas Knifton (who is the adult son of Alltrue's Chairman, Leo Knifton) to provide real time professional private client stockbroking advice covering all major UK indices, including the FTSE 100, All Share, AIM and PLUS Markets as well as on PEP's, ISA's ,CFD's and Spread Betting. Leo Knifton, Chairman of Alltrue Investments plc stated: 'Montague Pitman are a private-client stockbroker in the heart of the City, providing dynamic investment solutions across a range of financial products in today's fast moving markets. They provide Private Investors with real time professional advice covering all major UK indices, including the FTSE 100, All Share, AIM and PLUS Markets as well as on PEPs, ISAs and CFDs. Montague Pitman strives to build trust through their enthusiastic and experienced team of brokers, coupled with in-depth market analysis from Alltrue's highly respected market commentator Alpesh Patel.' Contact: Leo Knifton (Chairman of Alltrue) Tel: 020 7251 3762 |
Posted at 16/7/2007 21:31 by the_owl Volvo,Can they end the review before the end of the audit which only started last week? If its in just 2 weeks, why was no date given at the RNS?...they could have said "...the company expects to inform investors concerning proposed funding at the review.." It normally takes 3 months for an audit, so I'm expecting end August earliest for the PwC boys to do their job. I actually think it'll be closer to end September as they are not obliged to release before this. "GME wishes to update investors with respect to completion of the audit for year ending Mch 2007, and the review commenced in November 2006. The results to Mch 2007 will be published on ... The review will complete on .... A trading statement for 2008 will accompany the review/results..." What's wrong with that? Other AIM companies do it? What do we get ? Nothing!! - why? because they probably also now need a resolution to the funding issue, which will (even though 'urgent') probably take at least 2 months to sign-off on - given holidays, getting the right people together in the right part of the World. In the meantime, I think its South to 7.50/8.50p or so... then based on 2008, we may (just may) see a slow rise back over the next year. Sorry if this appears negative for me, but this is where GME have left investors in terms of info, and there's nothing coming from any other source. We need to remember Wood's shares are now very suspect, and no other Director has bought in 4 years!! Recent Options don't expire till about 2010...so they have all the time in the world, and a different horizon to investors. Steves2 - good spot. Maybe encouraging if they are recruiting. However they built a brand new NIM & Ansell website, then chopped NIM (Ansell is still as live as ever..lol, and the Patriot ticker on the OTC continues its merry dance between 11c & 15c...why is this still live??) ...so nothing's certain till its certain as they say. |
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