Usually when an institution buys into a start up they do it because they see long term value and do not participate in day trading. this announcement shows that Fidelity miraculously sold 3 days before the JV didn’t go ahead in February. Then FIL “supported” FBR with a “generous” 1 cent CR and the day after started selling at a 50% loss. if something fundamental changed, they would sold the lot but instead they are flat lining the SP and countering the buys.
if Fidelity continues with this strategy the SP will not recover and another CR will be even lower.
its really sad that FBR has not been truly supported by FiL , BKW, M&G , CRH or any other capable company. they could have made a massive contribution and we could been a part of it. instead retail is screwed and they may pop up rebranded in a few years… i hope i am wrong and a miracle happens.
FBR Price at posting:
0.5¢ Sentiment: Hold Disclosure: Held
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