Contrarian Investor UK invests mainly in UK FTSE and AIM listed shares. Like famous contrarians, Warren Buffett and Anthony Bolton, he likes to take a different view to the crowd of investors. He prefers the short term, possibly speculative trade, to the long term hold and takes the view that it's about "buy and research" not "buy and hold"! This blog tracks Contrarian Investor UK's thoughts on the stockmarket and his portfolio's trades. Move against the herd with the Contrarian Investor UK!
Trades and observations from a British contrarian stock investor
This blog is not intended to give financial advice. Before investing, do your own research and consult your financial adviser if appropriate. The accuracy of any information included is not guaranteed and may be subject to conjecture or interpretation by Contrarian Investor. Therefore visitors should validate all facts using alternative sources where possible.
Tuesday, June 8, 2010
GW Pharma moves down as Sativex UK approval awaited
GW Pharma (GWP) has continued its downward move since hitting the 130p mark at the interim results in April. Lack of buying pressure means that it looks like the price is being walked down by a few pence a day to its current 114p by the market makers and further weakness may be evident before final approval and launch of Sativex in the U.K.. The company expects these milestones to be hit by the end of June. After several sales of GWP around the interims and then around a week ago in the £1.20-1.30 range, I continue to hold but with a reduced number on this downward drift. Any large fall back to the £1.00 level will be a buying opportunity and chance to top up. As we saw following the regulatory announcement in March, GW can be volatile and easily trade in a 30p range on no news.
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