Zencol. LNY has 3 billion, yes billion, shares on issue and prior to last Thursday and Friday, in the last 2 months, around 50 million shares had changed hands.
35 million of around 85 million in those two months were exchanged in the last two days of last week.
Vaughan's departure just a coincidence?? "Coincidence"? No bleeding fear, that is when HC readers found out that Vaughan Wishart had left a month ago. Poster panic!!!
Seen it happen for years. People underestimate the influence of HC!!!
Where were the big sales when he did leave? Where was the panic then from those (many) from within the company and no doubt his friends, who, incidentally own around 80% of those 3 billion shares, DID know that he had left and obviously, the reasons why he did?
The tricky bit that is guesswork, but, could be significant, is that twice in the last six weeks, huge sell orders were pulled when selling had started, 13 million in one hit just on Friday when it looked as if we were going down into the .002s. Why??? Is that owner really smart or too clever by half?
Yes, we shareholders are left out on a limb having to guess what is going on, while around us, especially on HC, we are reading all of this "possible" doom and gloom. Yes, HC posters and readers would get my vote as the reason behind those last two days selling!!!
Check it out, read the posts over the last week. Massive dilution looming, Vaughan leaving with no ann, no news re ML, etc etc etc. All ended with a rush to get out and to "cut losses"!!!!!!!!!
Let's see if it continues today on a big scale and that's when I'll start getting a bit nervous, but, by "big" I mean really big i.e. from some of that 70%!!!!!
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