It has been reported that the chairman sold 7 million shares @ $2.40 to mainly institutional investors in an effort to increase liquidity in the stock.
I know of one listed investment company who took up as many shares as they could get at the time. The problem is it is difficult to take up a meaningful position in MVP because of the lack of liquidity.
The chairman had held over 30 million shares which was more than 52% of the shares on issue.
Consequently a reasonable quantity shares would not be easy to purchase without chasing up the share price to an unrealistic level.
When MVP do announce significant increases in turnover & profit the share price could rise rather significantly.
MVP Price at posting:
$2.42 Sentiment: Buy Disclosure: Held
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