As punters raided the city for there keep last week many communities are left reflecting, It would appear that New World Oil '' The company without a squeeze '' saga has seen its shares soar by 10 x there amount at the high's.
Commentary has been overwhelming leaving some punters tired or bored of the relentlessness of it, understandably these events appear to have taken all of the limelight however rest assured there are a few more twists and turns (which I see starting early Monday pre open) I envisage the whole debacle will start to simmer down although not before at least one more huge spike up & down through mass volatility.
The NWOG guys are adamant there are multiple ways to block the conditional vote being past, thus leaving short positions exposed. I believe this comes by the NO vote being blocked by its NWOG members who have a substantial holding in the company or from a lawful case relating to the shares illegal circulation.
The YES vote guys believe the placing has been structured in the best interest of shareholders by requesting the board suspend remuneration (until able to pay them) along with a close monitoring of near term events by suggesting fundamental changes to the business and potentially the management team.
Whatever the outcome I can positively say that events and behavior from all sides has been pretty toxic, I have personally watched investors caught on the wrong side (turn bandit) and those on the right side (make life changing cash) however there are very few people feeling happy.
This week many people have commented on my own characteristic being off, this is simply due to a well formed / presented group of PCB clients attacking my very being, I've kept much of this personal but please accept my apologies if it's grown tiresome. I shall be summing this up in the weekend DLC attached here.
I have been asked on twitter by D Abberley what I make of Fred W. Peters joining the register so here goes: As I understand it many of the new significant shareholders joining the 3%+ register are NO voters, this information has been sourced carefully so has to be given some credence. We can expect to see one or two more potentially joining them however don't know much more than that other than a few could do with remembering who could see this mammoth 5 - 10 times the multiple rise against those who totally missed it.
I must also comment on the hatred shown to investors caught on the short side or infact Cornhill Cap. this has been pretty viscous and not needed, '' Burning people really isn't cool '' but if it happens then lessons will be learned but lets remember the great business these guys have also done recently too.
Lets see how things pan out Monday, I believe there will be a continuation although further news will come to change the gears up & down before sundown.
All the best
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(These are but opinions derived from my own experiences and thoughts and are not adopted as a statement of fact)