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Anyone who enjoyed our parable on Bytes Technology (17.1%) may be interested to learn that it was revealed durin march that the initial disclosures into unauthorised share trading by the former CEO emanted from a voluntary request for information from the FCA as part of its monitoring activities. Bytes own stewards enquiry - which will hopefully draw a line under the whole sorry affair - is expected to be concluded prior to the release of 2024 preliminary results expected in late may or early june. A full year trading update released alongside FCA revelations confirmed adjusted operating growth profit of at leasat 12% and cash conversion inline with the companys 100% target. As a result net cash stands at around £89 million. thjis would mark a very reasonable outcome for the year, but realistically the shares may mark time untill the results are Published.
Nice buy on oversold price there Hunky.
it seems the female of the same surname as the late CEO, has an axe to grind. It seems unlikely she would NOT know the reporting restrictions of a CEO's close relatives. A £9k profit on a £74k investment since 2021, total return does not tell a story of monetory scam.
It says, he was set up for the last 3 years, in order to loose his posiition as a director and CEO.
This is just my personal guess.
Great company, great trading update - records broken for them again. A CEO making a few quid trading on the side doesn't reflect from this. Massively overdone. Bought at 4.95 today, quite the longer term bargain!
He only made a couple of grand profit too, what was the point?
It has to be a shorters dream.
I take it the FCA will investigate and punish any wrongdoing.
One such transaction you can perhaps understand might have been an oversight but 119 and then a further 15 transactions takes the biscuit.
Some day traders would struggle to match that.
He has lost a lot for what reason?
Trading in small amounts it is relatively easy to buy and sell anonymously..
That's quite a long list!
How on earth did he think he could get away with that?
Reassuring - Trading for the financial year ending 29 February 2024 has been in line with the Board's expectations. The Company will publish a trading update in March, in accordance with its usual financial reporting calendar.
Neil's the departing ceo has been there since 2020 according to FT
Phew - markets are soooo unpredictable
I bought a few as I can't see how this effects operationally?
The Sp has been hammered so what did this fool hope to gain? He has fallen on his sword at least. Why did the SP losses accelerate late though ?
The CEO has been a naughty boy,and been shown the door.
If I was younger and could afford to take a longer term view than I do, this is certainly a company that I would be putting in the bottom drawer for my kids. Unfortunately at the moment it's more about this absolutely ridiculous market than the quality of companies such as this within it.
Been watching this for a while the company looks very promising growing the business while keeping existing clients and £50m in the bank from memory very quiet board which is usually not bad thing.
I am surprised that others have not latched onto this especially in the field they operate.
As I thought!. TP achieved but more to come here.
love byte cos I love it so much. Way undervalued and should be 500p . Re-established growth and large cash at hand for acquisitions if needed. Hope we can break through 400p barrier. Back on my buy list!
20% increase in net and gross profit in FY23
Has to be back to ATHs.
Anything under 400 is too cheap.
I'll be keeping an eye on any holdings RNS as with the Volume yesterday, someone must have been reducing.
Anyone have access to a Bloomberg terminal to see which Broker was behind the bulk of the volume?
Yes tec sticks took hit in us meta lost $65 billion of its market cap on falling sales and higher costs, so likely to have an affect in UK s well
Big volume, and a near 14% drop on figs.
Do we think its purely on the back of Microsoft Quarterly figs or something else in the figs?
Curious.
‘Robust’ is always viewed with a great deal of scepticism by the market. Sounds like you’re trying hard but not really going places
Alexandra Jackson mentions Bites Technology Group #BYIT at 13m53s in the latest PIWORLD interview
Watch the video here: https://www.piworld.co.uk/education-videos/piworld-interview-with-alexandra-jackson-selecting-winning-stocks/
Or listen to the podcast here: https://piworld.podbean.com/e/piworld-interview-with-alexandra-jackson-selecting-winning-stocks/
Thank you kindly!! I hope your right this would really get SPmoving would like to think. Great news anyways :)