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My PT is £70
Consensus target price (average of 24 brokers) is 4,116.91p, i.e. 53% upside from here. NOT 20%.......................
2700 coming in soon!!
The environmental debate is a complicated one. Environmentalists try to push eliminating plastic, getting rid of nuclear, etc. at the same time they push for CO2 reduction. The problem is that the proposed technology - renewables, doesn't really work when it's more than 40-50% of the grid. What do you do on a windless night? Do the lights go off? We have no means of storing energy on a large scale. If you look at the way batteries have improved since Nokia 3310 to iPhone S6 (15 years) - battery capacity has merely doubled. The answer should probably be nuclear but the greens absolutely hate it. As a result gas prices are going through the roof. And that's before all cars move to electricity.
I'm trying to be optimistic but I don't see this energy transition working out. It's going to take longer than people think and probably all efforts will be on reducing CO2 and people will pay less attention to plastics in clothes, etc. Using less energy is probably going to be more than what most people can take. Taking their shopping sprees away would be too much.
Last but not least a lot of the people who shop at ASOS and BOO are working class kids. Global warming is more of a problem for the middle classes who have no other problems. Macron realised that the hard way after he increased petrol prices with a green tax and enraged the working classes which resulted in the yellow vest movement. He backtarcked promptly.
This is not just anecdotal - the environment is only 3rd among the most important issues for the British public and that's only because people lost interest in Brexit. It stands at 33% but only few months ago it was 24%. I guess the media banging the drums before COP26 has got people's attention but it might be temporary. Also the 33% probably don't shop at ASOS anyway and most likely correspond to the middle class, big city voters:
https://yougov.co.uk/topics/politics/trackers/the-most-important-issues-facing-the-country
The problem is those most concerned about environmental issues and sustainability are young people who are ASOS and Boohoo’s target demographic.
Shouldn’t be dismissed so easily.
looking at what the MM and Hedges have done to over shares the past week can see this magically bouncing back to 27 fast, seems the amount of sellers has stopped, and has been more buys the past couple of days.
this tree shake was ridiculous
Back above 2600!!
i'm surprised that no one takes into account that their old Rival Top Shop is now owned by Asos, so all that revenue that went to Top Shop is now going to them. Asos, Boho, Mike Ashley, these are the people that own the major of the clothing industry in the UK now.
Asos purchasing power, combined with the very clear fact that under 30's will continue to buy mountains of clothing puts ASOS in a fantastic position.
Time will tell in that regard - if you have followed the share price for a number of years you will know that it wasn't a popular share for a while about 3-4 years ago and then started its bounce back just before covid. There will always be the teenagers who care more about fashion than they do about the environment - you only have to look at social media to confirm that but until things start to resolve about the supply issues I can see the shorts still making hay here.
I was just reading a headline in the Mail Online - I've not read it yet, but apparently both Amazon and Apple smashed their figures last night so I'm not sure why the market is disappointed - maybe its their forward looking statements as the only thing you hear on Bloomberg is about supply issues - Bloomberg have just said that both companies are saying "it won't be a happy festive season".
i think you overestimate how much people care about the issue of fast fashion.
in term of climate issues, its cars and energy consumption that the general public are concerned about and will make more consumer choices about.
fashion is so fundamentally attached to the modern human experience, that the public will continue to buying clothing in vast amounts, and the fact that as people grow up they need new clothing means that literally millions of people will be using Asos over the coming months / years to update their wardrobes.
i agree that the dizzying highs of the £60's might be a stretch, but the current price no way reflects the market potential and forward looking fundamentals.
Despite some comments on here about being way oversold - it's been sold for a reason. This will never see the £60's high again. Big funds are under pressure to show some real green credentials, and 'fast fashion' (AKA 'throw away') will always be under pressure moving forwards. It's the big funds that control the SP, not the PI's. A real awareness of the environmental cost of so called 'Fast Fashion' will only grow over time. I've traded this a number of times over the years, especially when it's had major pullbacks (30-50%+). It's always bounced back previously, but I don't see this ever happening again.
It looks to me the city boys brought the share price done to load up on the cheap knowing it gonna run getting closer to Christmas.
They really are few clothing stores left on the high street, literally the market is dominated by ASOS and Boho, the pricing currently doesn't take this simple fact into account.
This share should be in the 30's. If it's still down here come payday then loading up heavily to sit and hold until the new year.
Can't believe anyone would sell for a lose when they just need to hold on, this is barrel scrapping at the moment
Xmas online shopping frenzy is upon us too.
I give this 2 weeks before everyone realise that the highstreets are dead and ASOS sales are still doing well.
both young and old are buying from ASOS as its more convenient
Technical showing Strong Buy!!!
Can see this closing out by another 30/50 up!!!
Great opportunity with almost 20% Upside within days/weeks