Excellent coverage hpcg |
A modicum of FOMO starting to appear on the book now. It is perhaps dawning on investors that they have no hope of paying under 15p now, and that is probably the case for 16p and perhaps 17p too now. The latter is yet to be determined, the close today and the rest of the week are important. |
The book has really shrunk today, hence the firm price. Agree with you hatfullofsky, when the last RNS is released that probably signals the tap is turned off, not one final opportunity. The better strategy was demonstrably to buy after the first Seafox distribution was made. The low was in immediately before the second announcement.
Mind you, each to their own, I can also see the attraction of waiting for the uptrend to be confirmed, which I guess is a close above 17.5. Quite decent to have taken a 15% overhang off the agenda in a month and a half. |
High risk strategy that. |
I'm waiting for the RNS to state Seafox are down to 10% - which is what they said they would stay at after distributing the rest of their holdings.
Last RNS said they were on 12.91%. |
Yes I agree entirely hpcg |
He isn't even close to having the money to make a notifiable position. What I would categorise the landscape as is that there is a lot of influence out there which should encourage plenty of PIs to a) have a good look at GMS, and b) take the plunge. This includes the latest write up in the Investors' Chronicle here it qualifies for what they call their "Small Caps on Steroids" screen, which is based around deleveraging. It still needs the confidence of a higher low, and other characteristics of an up-trend to bring enough money on board to see off the sellers. The offer does seem to have bottomed out at 16.75 ish, where it was towards the end of last week. |
I'm building too! Don't expect tr1 from me though |
Good reply ZHO |
>>Is he declareable?>>
No. Paul has covered GMS throughly on his Stockopedia SCVR and is enthusiastic, saying that he picked up some at 15p, and that he's "prepared to buy and keep buying if it comes back to 15p. That for me is the line in the sand where I think risk/reward is just so positive".
from 49:50 |
What sort of size would we expect usually? Is he declareable? |
Paul Scott took some at 15s think he's building a position |
Some big buys going through, looking strong today |
bloomberg2,
he says "but at this valuation and with the positive update under its belt this week ..." [about 50m 30s into the podcast]
ie he's referring to the update that we've just had, which was this on Thursday:
JakNife |
https://podcasts.apple.com/gb/podcast/small-caps-podcast-with-paul-scott/id1642339156Paul adds GMS saying trading update this week ? |
The book is finally starting to look encouraging after a good news release and an up day. The bid has some depth and the offer is only loaded above 17 and with 18 showing. No one is knocking out that 16.7 bid, even if there have been a couple of trades at that price today. It has essentially carried on at the same price as it closed yesterday.
Of course there is potentially a ton of overhead supply for those that bought earlier in the year, but the fundamentals are way ahead of expectations even then. With a 40p ish fair value end 2025 anyone that bought at 25p is still looking at a fantastic return despite the roller coaster. |
1,069,946,316 shares in issue, 53.4m warrants outstanding at 5.75p, equivalent to 83m shares (x1.55 per warrant) = 7% dilution |
And only another 35m to go before distribution is completed. At these vols that could be as little as 2/3 trading days (even assuming that ALL the still to be distributed shares are sold- which we know is unlikely). Overhang clearing, slowly but surely. |
And that’s as of 2 days ago. |
Seafox 14.2% -> 12.9% |
Good to see it rising in this falling market today |
Are the sellers from UAE? so selling in am rising pm? |
Over 100m shares have changed hands over the last two weeks. We're a lot closer to the end than we were! GLA |
The warrants will not be a consideration much longer as they expire on the refinancing or June 2025 whichever is earlier. The former will be much earlier. Your point is of course valid in general, and I have made the same. |
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