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Last week there was some heavy selling - large quantities - likely an institutional investor rotating.
Overall, I reckon BMY stand to gain from the end of lockdown trade. Bookshops like Waterstones can re-commence selling their books etc.
BMD wise, I reckon there will be increasing demand high value educational content (no I am NOT talking about Udemy / Khan Academy!). Given how lockdown has changed our lives and habits long term - i.e. meetings with zoom, meeting international clients via zoom etc.
Scooby- quite agree and appears some may have miscalculated in that judgment. Grateful for it though, as facilitated top-up yesterday at 19% discount from recent highs.
BMY board have made sterling work of navigating COVID and I too am confident in results to come. Given that board tends to be conservative in its outlook, I believe your qualitative research stands up well!
Investor0109 - I think some PIs may be thinking BMY is a "benefitted from Covid" stock so come to the end of the lockdown, sales, potentially may not be so robust. When lockdown first started, and the lights went out, no one was sure of how BMY would perform. In fact they thrived in such conditions.
The tedium of lockdown let to a surge in reading books, cookery books and for their Business Media Division (BMD) that must have significantly gained value the lockdown.
Now, with the end of lockdown in sight, will people continue with their reading habits? Even Nigel Newton, CEO does not know. I can only imagine that books sales will continue to be in huge demand for people commuting to work, relaxing during their summer hols, or reading before going to sleep. As for the BMD, I reckon that this is a blockbuster already in the making. At the end of lockdown, this platform will continue to play a pivotal role for educational institutions providing valuable courses online to their students.
In any case, the period from Nov 20 - Mar 21 (5 months) - must have been massive for BMY. Am I convinced that BMY smashed 2020-21 year? Absolutely. Big time. You just got to check out Nigel's glow in his eyes and beaming grin every time he is being interviewed! Now that's the definition of qualitative analysis!
Junior2020- recent high of 320p+ not seen since 2006, so expect recent retrace on profit-taking/de-risk as Scooby says.
Results due May expected to be strong and wouldn't be surprised if SP were to move back above 300p, though my view that 330-350p reasonable current value. Believe those with patience could see 350-380p this year.
Market often miscalculates and did so to an astonishing degree on BMY last year. Herd mentality- should the herd chase BMY's stock down the hillside, I'll be there to scoop it up again!
Someone is big seller - sold over 1 mn pounds worth of stock today. Hence why the SP is suppressed.
risk off day mate
Please explain why the sp is dropping on such positive news, ie why are investors selling? Board is pracically non exiistant though.
Blah- Thanks for sharing, couldn't agree more. Great buying opportunity at current prices- believe reasonable current value 320-350p, though don't consider 350-380p out of reach in time. Confident that those who bought at 180-200p will double their money.
Comprehensive overview from John Harrington at PI indicates this business is booming and poised for more growth:
http://www.proactiveinvestors.co.uk/companies/news/941250/bloomsbury-publishing-flourishing-with-formats-old-and-new-941250.html