Another scenario - given the level of spread bets & CFDs, some institutions have little choice but to mop up stock to cover their positions, hence the non-stop RNS stuff coming out.
What is curious is the lack of price movement upwards for a company seemingly up for sale. Which could mean one of a few things - no serious bidders yet, slow process in assessing value, value much closer to the 35p rights issue than many would like to see it, or fireworks at some point if counter bids come on the table.
Personally I suspect a bit of all the above and influence from the board. (Who are not exactly popular) If I was bidding I would want cheap and the board gone and would be in no hurry unless I was very keen on the assets.
What if there are no serious bids though ? - worth considering given the amount of positions out there. More of the same or an MBO ? Worth doing the chart and research thing for pluses and minuses is what I saying - good luck.
Scpie stock quotes
Scpie stock charts
Follow this thread
