MrBa5hir... agree that the overhang is the problem. This weeks volatility was exacerbated by the lack of free shares in the market as many were tightly held and thus a few buy orders could push the price higher. With there being so many new shares freely available this will change. The only way that I can see this changing would be institutional interest and purchase as they tend to hold for longer term in comparison with retail investors. And unless I've missed something recently, we haven't had a great deal of recent investor buying in any great depth.
BTW, what is the new market cap for MT ? Is it 30mm or now 500mm. The reason that I'm asking is surely once the mkt cap is above a certain level, then I would have thought that certain trackers and funds would have to take a stake. The only issue with this is they can probably purchase the shares from the banks who have stock they don't want (as they don't run travel companies) at a very low price. This would negate any upside that would be otherwise generated by institutional interest...
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