Trading at 16 cents yesterday, what’s happened since that suddenly makes it worth 0.148?
Hence I thought I’d missed a announcement affecting Sky.
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It's the UBS bots trading the volatility.
It's designed to draw out human emotions, such as: "Maybe 12 cents is all it’s worth."
Put a 1m order on there from a non-retail market participant and watch the bot auto change to an acclamation algorithm.
The problem is, apart from the odd retail punter, and the existing institutional investors, they're isn't much demand for the stock. Not because it isn't a great buy, but because new institutional investors are passing it up for growth stocks or more stable long term value companies. There aren't that many Black Cranes out there willing to take a bet at this stage in the turn around phase.
I see the existing institutional investors continuing to add to their position and build up larger holdings over time. Then some type of liquidity event happening.
Emotions lose you money.
As long as there is no bad announcements and the company looks to perform well or better later don't panic. You can't expect to make a fortune in a night, or everyone would be millionaires. Sit tight and don't use the money if you need it.
My gains, my precious gains, give them back!
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