This is also my opinion. Forget the new trading price at the start of the day. That was always expected and something that should not have really had an impact on GRANITE. GRANITE tracks RR throughout the day. RR did not fluctuate too much during the day from what I can see
Yes I have also seen their update on their official page: https://graniteshares.com/institutional/uk/en-uk/research/rolls-royce-etp-values/
The explanation is focusing on how their stop loss machnism worked. They even quoted LSE advised to not suspend trading (really???.. Need to investigate it properly on this) as quoted in their reply:
In order to avoid executing the bid price at price well above the actual ETP value, the market maker requested the security to be suspended. However, because trading was taking place in an orderly manner (i.e. there were market participants posting bid and ask orders), the London Stock Exchange advised that there was no basis for a suspension of trading.
So is this LSEās fault that āforcedā Graniteshares to continue putting a wrong index for investors to buy then they decided to implement their adjustment at around 15:10ā¦
Something is missing here, is Graniteshares trying to blame LSE on this case?
Sounds like it, because if enough people was their hands of this no one can be held accountable, as far as Iām concerned trading should have been suspended on that listing from minute one of it opening or the adjustment made at 8am, because I and Iām sure many other people invested large sums of money at a much higher rate at the 11am drop, granite or LSE have to credit people who made these trades shares that are proportional to the 16p rate that they calculated it at, itās literally day light robbery, where the hell did all that money go???
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My sincerest apologies for being clueless. The problem about being clueless is I canāt help but think that I have a clue, while being cluelessā¦ it is a cognitive bias 
Looks like you are right, hard earned money of some crowd trading on some form of leveraged instrument got pocketed by someone else. This has never happened before!
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Donāt bother replying if you donāt have anything prudent to say or something directly relating to this matter, Iām well aware of the financial risk associated with leveraged trading thanks as is everyone on this thread, but when it doesnāt match/or move with the rules they themselves have stipulated then itās wrong, what is just a revised number to you is a real money loss to other people.
So again, donāt contribute to something you donāt have a vested interest in or to put your very feeble 2 pence in, you donāt look big and you donāt look clever.
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Please donāt get too emotional as my pain is perhaps more than yours ( 6 digits lost)
I suggest all of us focusing on the key argument here:
*Graniteshares has published information about Intraday rest or Intraday stop loss protection. But all the information was relating to how this could lead a market suspension
- Graniteshares claimed they have noticed there were still biding way above the implied value so they seeked market suspension from London Stock Exchange. However LSE somehow decided they should carry on trading, of course not on the implied value but a wrong index. At around 15:10 they decided that an adjustment must be made to justify the last few hours trading.
Our demand will be:
if itās market practice of this kind of incident with LSE? Which I doubt so.
If we believe this practice was not inline with a good conduct, shall we pursue compensation together?
To start with, I think Twitter can be a first approach so if you could please go to https://twitter.com/GraniteSharesUK?s=09
And tag Graniteshares and LSEplc to ask these questions. When we have enough queries online hopefully we have media attention too.
Iāll consider to centralise everyoneās info and submit to Graniteshares for further compensation if our cases have a solid ground, then of course using legal if we need to.
Unfortunately, I do think that they are correct; partially.
I can see the logic in the stop loss activating as in theory it would have gone down to -2p or so which is impossible, so itās a good thing the stop loss exists however they did not execute the stop loss at the actual trigger point. Whether it was theirs or LSEās fault people have lost money!
IMO, since the price was moving fairly steadily after open rush they should have just left it to run its courseā¦ look at RR shares today, they are just floating, infact they are down 2% rn.
They missed the boat on changing the price and then corrected it hours later suddenly with no warning which meant none of us had the chance to save our investments! Im going to see what happens over the next week and if it looks like I will never recoup then Iāll try take it further.
Thanks for your input and I believe itās very fair. I have started a topic here to seek justice for everyone like you and me. Itās not just about the money that someone lost hundreds but some other have lost thousands because of the less transparency and poor handling.
Please help spread this topic on Graniteshares Twitter account and we shall all work together to save ourselves.
P.S. to recover our lost we need to have minimum around 100% returns on 3SRR. This means we must expect $RR to net drop more than 35% without any further stop loss triggered cases in the next few days before their price increase. Can we see that day to come, I donāt know and why should we have to use our own risks again to recover something that we shouldnāt have lost?
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Correct me if Iām wrong but I think itās pretty obvious what happened. MM were aware (we didnāt) that Graniteshares had a stop loss somewhere, so they made sure that the stock will go up more than 33% (Iāve never seen this on a blue chip stock), so they could buy cheap shorts x3. Right after that 35% the stock started to drop down hard, and today (and probably within the next days with the coming strike) keeps going down, and the 3SRR has already 1.3M of volume and itās just 10:19am! Manipulation here is as clear as daylight for me. But correcting the price after 15:30pm is disgusting. Who got our money? The ones who bought at 16p yesterday and will sell later in a few weeks. This lesson itās gonna be hard for me to digest.
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Hello guys,
Please guid me, I am also loosing LOT in my level, obviously it is not as much other big investors but every sing penny means to me and to other. Trust me I fill same pain.
Unfortunately or fortunately this was my very 1st trading/investment. Lesson learned. No more Grenaiteshares.
I have spoke again to Grenaiteshare today and the way it was explained did not make any sense to me.
I understood that value should have been changed between 10:00 and 11:00 am instead it happened at near about 15:30. Till that time they were displayed wrong and very high price and buyers like me/us bought more qty with very wrong price to average the loss cost down and ended up loosing more.
Now is it worth buying more at current price to even average it further down and at some point get out of it ??? Or it is very risky ?
Loosing nearly Ā£160:00 in total.
Hope to here advise.
Also happy to join if we are taking any legal action.
Hope we all come out soon from this man made mess !!
I have the same problem, loosing big time, around 14k, as like everyone said it should have been adjusted according to the price drop, would like to see what how they want o explain that, also i am up to join the legal action
Hi,
the problem is the stop loss should not have triggered at all, after you calculate the rights issue in and the impact it had there was not much movement from before to after, what looks like has happen is the stop loss did not calculate the impact percentage correctly, where as my RR CFD short with Trading212 was adjusted accordingly no problems, this was done with a basic calculation! Like for like share price, How graniteshares have made such a basic error is beyond me
Not to mention 3x shorts are up 40% this morning but because these turds adjusted so late none of us are able to realize more than a few points of that. What an outrageous mess up. Will contact the ombudsman and lodge a complaint before the week is out.
Hi
Iād like to file this with you if you allow. Can we gather all investors info such as their emails and names then we unit everyone on this case? If you are too busy I can help draft up the letter.
Please draft the letter kxn, Iām in, we will take this legally.
Their response to my email made things even clearer that a mistake was happened but shamefully they arenāt admitting they are on wrong side instead they are pointing us to deal with other big entities (LSE and etc.) into this mess.
Please do that please, as i definitely in and my brother has the same problem thank you
Iāll do the letter in due course. But as Shadowfox mentioned, the first approach shall be filing complaints to FCA Ombudsman before we resort to legal action when the value of impact is over Ā£150,000 . Please direct message me your email and name if youād like to be included in my complaints to FCA Ombudsman. Other information is optional such as how much you have invested on 28th Oct prior to 15:10 the adjustment happened.
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How can msg you private cant see an option new to this here thank you
You can click my icon then choose to message me
Thanks for taking initiative Kx.
If possible please add the below context.
Due to the negligence of Graniteshare and their partners investors were exposed to significant loses.
According to Granite, stop lose should have been applied at 28-10-2020 10:59 which it wasnāt until 15:10 on the day.
As a consequence to this, investors made to believe whatever price shown shown in between the hours on trading212 is correct, varied from 24p-46p. According to Graniteshares, this had been lot lower and taken no action to suspend trades placed in between.
Several of us made cost variations during the time at various prices by believing price presented to them is correct in between hours