Since Silvergate started purchasing shares in CAP, we have had four big volume days. They were:
* 29th May: 1.291 million shares traded, the SP opened at 31.5c, peaked at 36c, closed at 35c, up 12.9%. * 13th June: 714,000 shares traded, SP closed unchanged at 35c, with now intraday high or low. * 3rd July: 1.628 million shares traded. SP opened at 38c, peaked at 42.5c and closed at 42c, up 12% for the day. * 6th July: 524,000 shares traded, opened at 41.5c, high of 44.5c and closed at 44.5c, up 12.66%
On all our big volume days, the SP heads up.
On the 5th of July, we lost 8.14%, opened at 42c, low of 39.5c and we closed at 39.5c Volume traded was 221,000 shares.
On the 24th of July, we lost 6.58%, opened at 37c, low of 35c and we closed at 35.c. Volume traded: 50,196 shares.
Every day we have a red day, the volume is tiny.
Is this part of the game to keep the SP down so that Silvergate can continue to accumulate around the 40c mark?
Based on the top 20 holders released with the financials, only AGO has sold. Some other top 20 holders have increased their stake in CAP.
Silvergate must be licking their lips when they pick up shares sub 42c.
I had to chuckle when I read the annual Financial Report. On page 6, there is a heading: Significant changes in the state of affairs and the response was: "There was no matter or circumstance during the financial year that has significantly affected the state of affairs of the group"......... What about our J/V partner BMG going into liquidation on the 3rd of May and not receiving our $25 million progress payment.......
The waiting continues.
CAP Price at posting:
35.2¢ Sentiment: LT Buy Disclosure: Held