from the nightmare of 25p ish. Now only around 10% below pre Brexit verdict price of 37.5p. This remains a great business and people will still buy and repair their cars through this firm, irrespective of the eventual move away from the EU. Interims due in August and I expect a hike in the dividend. baagatwick is right to expect up to 40p soon, although the word unabated in his text, will require a massive re-rating of the stock.
As I mentioned last week, this will start to see a re-rise very soon. You are right when you say this is a good company, and it still is. The problem at the moment is not specifically about this share but about the entire market, however with share buy-back taking place and the recent broker rating I would say the 40's will be here sooner rather than later.
Far more buyers than sellers and yet the SP is hammered for a second day. Why does this share get hammered much harder than other listed motor dealers? No end in sight. Should have sold at 49/42/37.5 even last week. My only hope is a bid and with an MCap of less than £400M this is now looking my only escape route. 60p would do the trick! This remains a great share with excellent dividend prospects, but the dynamics have massively changed.
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.
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