Sosandar is an online women’s fashion retailer, aimed at the gap between the youthful ASOS and Boohoo and the ageing Bonmarché. It was a reverse takeover of Orogen plc, coming to the market in November 2017.
Background
It has had a volatile few years since it listed, with the issue price being at 15.1p per share. It hit a low of 11.2p in early 2018, before hitting a peak of above 47p in September that same year. It then trailed back down to 12.75p (what a rollercoaster) and has since doubled from those lows.
Sosandar shows just how quick the share price can change due to market sentiment. Sosandar was very popular amongst private investors, and billed as the next Boohoo on bulletin boards, and the £3m placing in October 2018 didn’t go down too well.
In hindsight, management should’ve filled their boots. The share price included a lot of froth, and the bad market conditions of Autumn 2018 did little for the stock’s fortunes.
What most private investors fail to remember is that the prices of many AIM (and even FTSE stocks) are set pretty much by private investors. Institutions will buy in placings but it’s…
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