You could well be right but at the moment Allensford is the only player at the table and no one else is willing to make a substantial investment much above their offer price.
The small amounts being traded at the moment are being bought with the knowledge that as long as the offer stands, the downside is limited. I believe the majority are buying purely on the chance that a higher bid will be forthcoming, not the belief that management have everything under control and will turn things around.
Without the insight that the half year financials and a reasonable update will bring, I believe Allensford's bid is all that's holding the share price up at the moment.
As a holder I obviously hope that things are turning around and that management are planning to reduce the roll-out of more shops and close down non-profitable ones but I'm not holding my breath. Nor am I increasing my holding purely on the chance that Allensford will increase their bid.
TRS Price at posting:
$2.80 Sentiment: Hold Disclosure: Held
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