This as with so many other shares has taken a nose dive due to the impending referendum. Once its all over we should most certainly see a jump back up to the high 40's with today's Broker rating giving impetus to that.
Disappointing to see share price drop below 40p, particularly when I see the Company has been regularly buying in and cancelling shares. However sentiment re new car buying seems to be waning and therefore I presume very limited activity until after Brexit vote.
After being told of the sudden closure of Birmingham Aston Martin, I am now told that the Wolverhampton territory for Jaguar and Landrover that Pendragon were publicly in dispute with their former Stratstone MD over, has been lost and transfers on Friday this week to Jardine motor group. Yet another JLR territory? I am not sure where the profit will come from to replace all of these ?.
I understand from a friend at Sytner group that this car is contracted NOT to be sold for 5 years ! So £1.2m of shareholders funds tied up for that period. Certainly looks like vanity, It is hard to see the business case
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