So, Alan Grey sold 5,911,550 shares at an average of $1.85 and bought back 10,302,365 at an average of $1.05. How very astute! How clever of them to sell almost 6 million shares as the price rocketed up artificially to $2.50, only to buy back almost double that amount as it crashed back down and then crashed some more.
Unless of course they were/are in cahoots with Regal? Sell a bundle starting at +$2 and force the price down to $0.80. Frighten the retailers to sell at under $1 and then mop up. Easy really, if you are a real long term large holder. And the only losers are those irritating retail holders who finally had enough psychological torture.
But wait, there is more! Alan Grey, as the largest shareholder, might also, possibly, be aware, somehow, that things are going to improve at Starpharma before the end of the financial year. What other reason would they have to buy back 10+ million shares? Not sure how they would know, of course, as it is a “tight ship” at SPL.
Call me cynical if you must, but I suspect that JF and crew have as much respect for retail holders as retail holders have for JF and crew.
SPL Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
