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I've done the same, bought in thinking 22, or thereabouts would be the floor, but geared up today as I have high hopes in the long run and am going to sit any drop out, and buy larger amounts if it does drop.
The 22 floor was stopping it from reaching 'technically' oversold, which it now is, so that's a good sign. Irregardless I actually convinced myself to shut up and buy more while it's down so it's all gravy. I'll blow it up on reddit again at the end of the year when I'm finished.
I'm almost certain there is something smoldering in the background and this is not simply people getting bored at lack of announcement. To draw a slightly obscure parallel, at the end of July I invested in the IPO of Hydrogen One Capital Growth (HGEN) who aim to invest in a range of Hydrogen projects - so a speculative industry which may take many many years to prove its worth and is heavily reliant on the climate change brigade. This IPO was massively under subscribed and in the month since, like ANIC there has been radio silence. However, this is up 14% in the past month in spite of lack of news and in spite of any other economic, growth or tapering concerns which may be influencing ANIC price. It's therefore hard to believe that HGEN investors (who will probably be a similar bunch to ANIC investors) are generally much more optimistic than ANIC investors and it seems more likely there is a more specific underlying reason for the fall - I just don't know what it is.
Over 100% needed for those that bought in near the top earlier this yr.
Floor will be above 12p which is latest NAV.
Add a premium for the potential of the cash, and my guess would be a floor here at around 15p.
But I've been wrong before.
Any guesses when we'll finally find the floor?
grey matter, Mellon talks about "white space opportunities"at about 6.27 in this proactive interviewhttps://www.proactiveinvestors.co.uk/companies/news/950316/agronomics-set-to--completely-disrupt-the-agricultural-sector--950316.html basically creating de novo companies in areas (the white spaces) where there has been little activity to date. entrepreneur speak for doing something others haven't really done yet.
You'de think so, but stock markets aren't rational and AIM even more so. Passions, emotions and sentiments play a key role (and market manipulation for good measure) on AIM. There are a lot of decent companies who are slowly producing results, but reciever little to no attention because they are not hot stocks. Likewise, you get companies like this which are good at selling a story of future worth, and people flock to it for a time like moths to a flame.
People get bored when there is not a lot going on and go somewhere else, or they get spooked and start to worry because they are not sure why that money hasn't been spent yet. They may be waiting for the next fundraisers on their current investments, or may be searching around for new companies but have not found any at a good price yet.
Yes the SP drop off is frustrating but ANIC like most AIM stocks seems to be either a coffee can or subject to either short trades or those with profit getting scared and selling up. We are also in the Summer months and I'm sure activity will pick up by October. I can't myself see any particular risk here only that (understandably) no news since the fundraise has created disolution. Didn't Jim Mellon talk about a "white space"? Any ideas what that was about? I'm holding on because the future has to be in cultured foods etc. The way our planet is going it can't be much else.
I am the same. Will hold as I believe in the portfolio but annoyed by the complete radio silence since the fundraise.
The other thought I had was that breaking below 22 (the fundraise price) triggered sell orders. Seems like that was the tipping point for the decline this week.
It just seems an odd mentality to sell out now and wonder if there was anything more. The SP has hovered around the same value for several weeks. There has been no news for several weeks, but the cash is there when the opportunity arises. Why sell now when you have a warchest of cash to spend to get in at the early stage development of an industry which will probably take a decade or so to come good. Is current economic noise not just irrelevant to that? Is there any underlying news that we just aren't aware of (which is probably often the case with AIM stocks). Anyway, I'll hold and see what happens longer term.
Have to agree with you about AIM stock movements being somewhat baffling. AIM allshare seems to have been stagnant for a while now, at least since March this year. I'd suggest a lack of news, mixed with current finacial, economic and logistical problems in the UK economy may contribute to the current stagnency overall.
https://www.londonstockexchange.com/indices/ftse-aim-all-share
https://www.londonstockexchange.com/indices/ftse-aim-all-share
I think it's a lack of momentum/people trying to lock in profits coupled with absolute radio silence from Agronomics.
....but in any case the current investment portfolio is not proving especially inspiring to the wider investment community.
The SP movement of AIM stocks is somewhat baffling, so not sure if there is anything to read into the current downward trend. Why would investors get bored this week and decide to sell off? Have I missed some critical news?
@xviolet There is also Eat Beyond based out of Canada if you have access through your broker. They are invested in some interesting startups in this sector and their share price is in a bit of a dip at the moment. Unfortunately my broker doesn't have access to them!
And doesn't Mellon get paid for a 15% uplift in the NAV as part of his fee? Which raising £66m of capital achieved as it was the main driver of the NAV increase.
None of which has yet to be invested... hmmm
Current nav is near 12p including cash raise which is twice as much as the nav was when the sp was at 40p.
the portfolio is more widely based than just cell ag.livekindly and rebellious foods are plant based. oritain has a completely different focus(although its a very small holding i accept) i haven't gone through them all so there may be others which are not cell ag.
sp
that is Meatec 3-D
RWT1
hmmm. ok.
maybe I will revise my opinion
and yes I am invested. but not a huge amount. its not like I think 'oh yeah anic is the new amazon and I must re-mortgage to get in...'
I do think this sector is the future. But its a shame that ANIC is the only entry point I have been able to access. That and Meat 3-D. Which I like because they picked up Peace of Meat.
xviolet - you didn't think the newsletter was that bad?! I'll break it down for those who haven't read it:
1 - We raised lots of money. Yes, we know and you've not invested any of it.
2 - We ate some cultured chicken and it tasted of chicken. Not news.
3 - Lots of money was raised globally within this sector. Here's some examples of companies who seem to be doing well and who we haven't invested in.
4 - List of companies we actually are invested in - they have raised money too. Yes, we've known that for a while. Not news.
5 - One of the companies has rebranded to a forward thinking Latin name. Latin FFS! This is cutting edge forward thinking?? They were probably guided by the same management consultants who told Standard Life Aberdeen to just go with ABDN. Or whoever told Royal Mail to rebrand as Consignia. Smoke/mirrors or Emperor's New Clothes i.e. there's nothing there and it's not news.
6 - Link to LifeCycleAnalysis document which shows that plant based substitutes (which we aren't invested in) have far lower carbon footprint.
7 - Link to some press articles.
8 - Plug for Jim Mellon's book
That aside, the company half year update was truly informative and will inspire investors to get on board.
Jim needs to get out there banging his drum for cell-ag again. Didn't anticipate this dropping below the 22p placing mark but what do I know. I'm not overly concerned as I see this very much as a medium to long term play 5-15 years. Patience gets thin with no news flow and traders go chasing profit elsewhere. Happy to just keep adding month by month until I get my 100,000 shares and I see the dips as an opportunity. Would be nice to see a few new investments come on stream at least or top ups in some of our existing/better cell-ag plays (Blue Nalu etc)
No news for 4 months and slow sell off. See people continuing to sell to move to other investments.
Agree with RWT, why raise funds if you don't have any investments ready to go?
The cynic in me wonders if it's to give Mellon's company a nice pay boost by increasing the NAV...