Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
As the self-congratulatory celebration of AIM’s twentieth birthday reaches a crescendo, the odd share trades (just coincidence we are sure) continue unabated. This morning, in a perfectly timed manner, we found out why StratMin Global Resources’ (STGR) share price mysteriously jumped 19% in the last hour and a half of trading yesterday. This morning, the company announced a strategic partnership with India’s Tirupati Carbons & Chemicals Group. What is brilliant about this example is that we’ve been here before with StratMin. Better yet, I reported the last time well-timed traders got their hands on StratMin’s price sensitive information to the FCA.
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Comments
wildrides
Back in the old days there was a guy on LSE BB that claimed to know when an RNS was Coming . He claimed he had a contact that worked in where ever it is they issue these things from . This contact would not /could not divulge any content to him . Just that a company had one logged to be sent out at such and such a time. Obviously people used to pile in when he said he had been tipped off one was due in the morning just hoping it would be good news . No Idea if he made the whole thing up or not but he certainly seemed to get it right quite often and people used to trade the little spikes . You never know ?
People used to claim that one share bought meant a secret code between market makers that an RNS was due ( never mind that like the rest of us the feckers had that wonderful device the pay as you go phone !) Actually some of them it was just me messing about to wind them up . If I got bored I would just buy one share to give me some light amusement listening to the board chatter that resulted . Money to burn in those early days as it was easier to make a quick buck back then .
market makers get advanced warning of an RNS and its content so that they can work out pricing etc …….. thats where one needs to look in my opinion . Some one in the MM office will be getting hold of that info and spreading it around in my opinion ……….. allegedly………and in the best possible taste.