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srostron1983 has made a key point which many appear to be overlooking. If BooHoo have been paying the appropriate costs to their suppliers then there will be no extra costs to the business going forward. There is absolutely no indication (that I have seen) the company has been paying suppliers on the basis those companies are giving their employees £3.50 per hour. It's the Directors of the suppliers that have been benefiting by retaining the money they should have been paying their staff. Still, I'm happy to be buying in here as these are levels I never thought I'd see!
pokerock
“ Opulentia, it’s not a short attack, it’s Boo’s business model on the line.”
For anyone with level 2, it is CLEARLY a shorting attack, wil an iceberg sellers of 1,500 shares every few seconds since 8am. It was just a matter of when the scales would tip and at what price.
“They’re allegedly paying £3.50ph and making a healthy profit; they now need to pay £8.50ph”
They don’t pay anyone per hour. They pay per garment.
“and have lost some big outlets including Next, Amazon etc. How many more will follow?”.
Only 1.4% of sales are retail. Furthermore, the have not ‘lost’ ASOS. ASOS just suspended sales while they talk to BOO.
“ It’s a BIG gamble at the moment, and I believe it will hit £1.50 before any significant bounce, if there is to be one.“
Well, if there was no risk, there would be no market. We have already bounced off £2.00, although I missed the bottom and bought at £2.035.
Thanks for the great advice, though.
Im switching off and let the market do it's thing. Personally feel this is way overdone and the allegations can be rectified. Those who bought now will stand winners in the long term...
Good summary. It is serious matter and very hard to predict bottom. If Kardashians also suspend their affiliation with brands like pretty little thing it will dive down.
Loveapound we love you. Genius - what is your tip for tomorrow?
Loveapoundnote.....
Great post....imo
LOL, do you think BOO don't dictate the price of what their garments need to be? The suppliers are beholden to BOO.
Latest short closed at 208. I have shorted this all the way down from Monday and made a fortune. Which is exactly what I said I was going to do and exactly what I recommended that others did.
I also think that BooHoo will come back and I will be buying stock once it has found its new trading level. Again, exactly as I said I would on Sunday. If others had followed my advice then they could have made themselves money and acquired many more shares.
Poker**** what makes you think they have lost Next, Amazon etc? They have temporary withdrawn BoohOO pending blah blah. The Buiness model is sound, but th eproblem is not with them, its greedy suppliers paying their workers poorly.
I would be surprised if BOOHOO themselves we're actually paying that, it was probably a factory they do business with, the media love these scandals.
Guess many have closed the short and stay long from £2.
Opulentia, it’s not a short attack, it’s Boo’s business model on the line. They’re allegedly paying £3.50ph and making a healthy profit; they now need to pay £8.50ph and have lost some big outlets including Next, Amazon etc. How many more will follow? It’s a BIG gamble at the moment, and I believe it will hit £1.50 before any significant bounce, if there is to be one.
traded compared to the actual number 1259 Million and only 27 million shares traded today,
its a definite short attack driving this down here, large bounce on way soon
GLA