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.
Today trading in AIM-listed Rurelec (RUR) went bananas. Readers following the fortunes of this disaster story will know that cash has been something of an issue - see HERE and HERE. So any positive developments regarding funding would be very warmly welcomed as the company tried to avoid what appeared to be an inevitable train smash. Well, some good news arrived on that score this afternoon at 3.38pm as the company announced that it is at an advanced stage of negotiations over a short term finance deal. Great stuff, and top marks to the board of directors for making a fight of it. But by 3.38pm the shares had already gone through the roof. Who knew? Who bought before 3.38pm?
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Comments
Daz
Nigel, can’t help you with this one fella!
Abdiel
OFC it wasn’t insider dealing, it was someone carefully watching the shares over some months and taking a calculated risk. :P
Just teasing Daz if that was the case with MRL grats
Nigel Somerville
Daz – aww, and there I was hoping you’d save me the bother of looking the mirror to check!
wildrides
Well ………. the market makers get about an hours notice of the RNS and obviously the department that issues the RNS is very leaky . Before I got banned from LSE I remember a particular board where a guy used to get tipped off an RNS in that company was going through the system ……… never the content ……….. just one was coming in about an hour and if it was positive negative or neutral in the opinion of the leak.