I wouldn't sell now. Dotnova bought in at 56p. I told him (+everyone else) that the SP would nose dive. I sold at £1.66. Once it reaches 15p it might be worth a punt! A big might. Pfd shares are bordering on being worthless. 27p = the old 2.7p! This has become a penny share...
1. According to the results of RI on 8/4/2914, 18,062,657 shares were left with underwriters. Reasonable to assume these would have found a buyer in 6 months, so dumping of these shares can't be the cause.
2. News of a trading warning has leaked out to some shareholders and they are dumping shares, so that they can buy them back on or after 23rd Oct 2014. The company has had an opportunity on the 18th Sept 2014 to issue a warning as they did on 16th June 2014. trading could have taken a hit in late September due to weather again.This is possible, but would put this as a low possibility.
3. Premier Food is somehow linked to a Tesco style accounting issue. This is unlikely as PFD would definitely have to release this to the market immediately.
4. Price of Premier products were heavily discounted late September/early October. Fear of this could have frightened some investors. Other than Asda, most of these offers are finished, so can't see this being a reason.
I can't think of a reasonable reason why the share price is falling off the cliff other than fear effecting leverage companies. Can anyone come up with any other alternative.
Just bought more at 27p. This Company has cost me lots but I genuinely think the latest fall is market related and the firm has turned a corner with its latest strategy (I.e stopped selling off the family jewels) . Once the markets (and the food superstores pick up...and they will.. The SP. Of PFD will recover from this undervalued price. Has to go somewhere around 80p for me to be back in profit and that seems very realistic chance IMHO .
Hi, Just thought I'd mention that I added nearly 3,000 shares at just under 27p this morning, brings my overall share price to 54p, which I think is realistic long term. If the price drops below 25p , will add more so reducing my SP even more. Interesting chat on here.
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