Given reasonable volumes have been running since coming out of suspension today is showing some really strange trading. This is the sort of movement in stock i would expect if JPM werent dumping. Low volume and tightly held.
Is it that JPM has pushed the SP too low and are now pulling back to try shift it back to the 17c range? Or have they somehow finished the fire sale? I know its expected they still hold circa 1.5m or so but they seem to have stopped.
Alternatively they are having a boozy Friday!
What has become apparent in the dump and SP retraction is the jury is out on PLV to perform as advised. There is no demand side pressure. I think a few other posters have indicated the same and once PLV have proven they can perform in line with market advice then we will see an upswing. Until then it appears we shall float at current levels. Lets hope most have jumped ship by now that are over this stock and if it remains tightly held we wont see further SP erosion over the following months.
PLV Price at posting:
14.0¢ Sentiment: None Disclosure: Held
