But placing a sell order at 2.5 million isn't 'holding' the share in place. If there was genuine good news 2.5 million shares is nothing. I remember last year we had a couple of days where over 100 million shares were traded (on AIM). You can't 'hold' a stock in place this way. Even if it were 25 million shares, good news would (eventually) overpower it. Not to mention, if this was 'holding' the stock in place, the share price would be directly at the level that the 'seller' is placing sells at. It's not, it's always a few cents below and thus such an order has no effect on price whatsoever. It's the same scenario as if I had a 25 million buy order, but placed in at 5c. It wouldn't affect anything- sure, the order is big, but it's not getting filled.
Thing is these theories switch from day to day depending on price action (I'm not having a go here soj88, I'm speaking more generally about theories posted from a few different sources). Basically, if the price goes down, they say it's 'accumulation'- i.e. a big, high net worth individual(s) or a large institutional investor trying to get shares on the cheap. If the price goes up, but stagnates at a certain point, the same people then say that RRL is being 'held' by the 'powers that be'.
In other words, the only share price movement that is not apparently 'manipulated', is when Range rises quickly in a straight line without any pullbacks. Small wonder the theory is so popular among die-hard investors, but laughed at by everyone else.
These theories also completely contradict one another. If there is 'accumulation' going on, that same 'accumulator' isn't then going to sell shares to keep the price 'under control'. Because of course, the whole idea of 'accumulation' is to build up a large pile of shares, hence the name. Alternatively, if there's a large seller who is offloading, they're not going to be buying shares while at the same time trying to offload their position. If you say the buyers and sellers are different, and have no knowledge of one another- well, that isn't 'manipulation', it's just normal market action where buyers are matched with sellers.
When someone is building a big position in a company, it becoems hard to buy the stock as the buyer sucks up all the shares. But contrary to this happening, buying (and selling) Range is very easy. It's one of the most liquid shares on the AIM.
It is results that will improve the share price, not removal of 'brakes'. Though doubtless if we do get good news from our projects, and the share price then shoots up, those who believe the manipulation theory will suddenly declare that the brakes are off and that this is proof that they were right all along.
Then when the rise eventually stalls, that'll be because the brakes have been reapplied. Because the only pattern for these people that isn't manipulation is a long straight line upwards, giving them a portfolio with plenty of 0's on the end of it.
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