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What dividend are people expecting?
It looks more than likely that there is a takeover coming. Someone is buying big time and got the market makers / brokers to try a few games this morning. Didn't work. A good hold at present Imho. Haven't worked out where the level is to force the passive funds in, but must be close. So plenty more upside. And if you factor in divs expected in a year then still cheap.
@make a refi is a huge positive. Debt raised rather than equity.
Also you have to look at the debt market atm. Restaurant Group have been given an insane package with 0 covenant tests for 15 months!
Markets are always forward looking hence stocks trade to expectations and your stock moves based on beating or hitting those expectations
Right now why would you not look into the future? You can’t look at this stock on last 12 months as the world will be very different in 12 months. Wait till then?
I invest in copper you buy when you see demand building (as price is low) you don’t want to be buying when demand is peaking as the price is now sky high
Don't agree Dan. How can the market look forward beyond the end of March when refinancing doubts remain? Been in this game long enough to know a rushed last minute RNS which failed to provide clarity on financing following covenant breach would usually tank a stock. For this to rocket the other way tells me something else is afoot. Just look at the volume... It's not retail. Either refinance or there is a buyer lurking.
I'm not bashing the stock... I wish I hadn't sold out when I did... I hope to get back in at some point but something is not right here which stops me getting back in for now.
I've just recaculated and buying in now isn't the same as just 1 week ago. Buying in for maybe a 20% gain bores me. That's what funds are for. Also the management or lack of media when they could have talked their company up. Worries me even more.
Stock market makes no sense tbf. Why do people buy tesla which will take 1000 years to return ..
Good bye until the next crash.
I don't see the share price as too high IF you are looking forward. See this business in 12 months time, where will EBITDA be? £40m - £50m easy and that's probably low as we know cards are an emotional purchase which people love to touch and hand write. Also we know that people are desperate to shop
Markets are forward looking. If you see the £50m EBITDA and a low 8x multiple this is £400m EV less debt that's market cap of £310m where market cap today is £245m
In reality our "poor" trading performance was £80m pre-covid and 8x is a low multiple given a number of our high street competitors have gone or scaled back and card factory can now grow online
Look forward not back
Jellyj4.
I was exactly the same. Make 1k this week. Then bought in again last night. Was £500 up this morning. Heard my notification and thought it would just be a news feed. Looked back and I was £500 down lol.
Nice to finish level though. May put a sell order on for the morning incase the same happens again. At least can buy straight back in if it doesn’t.
Has to be more to it. The financing has not been resolved so for me this current sp is too high in normal market particularly considering where this was a week ago. For me there is either a bid coming or a cash call.
The last week and a half, apart from today, has been SOLID green. No seesaw on the way up as people take profits or try to scare people into thinking it's a pump and dump. Here is my analysis (correct if I'm wrong): CARD has significant debt and only had enough cash to survive till April / May without raising more money. The first few days of this rise were just a re-rate after BoJo announced that the opening up in April as CARD can then generate cash flow. The P/E and Price / Book ratios were insanely low when trading at the bottom of 35p. Yesterday we saw 30% increase because of rumours about the budget being kind on business loans, furlough scheme, business support etc. which has been priced in now. Imo around this SP, 70 - 90p, is accurate for CARD until we see how the high street comes back online - price / book is now just over 1, levels near what CARD was just pre-crash. The short-term cash situation was the thing really keeping the SP below it's reasonable levels, and the next year may have some really strong growth if the recovery goes well.
It’s unreal the volume. People selling taking profits then buying back in when it takes a massive dip then probably selling again haha.
Can see this going up 10% again tommorow morning then it’s either flying high more or doing the same as today and looping.
I was up 3k within the first hour to more then 3k down all within an hour to finishing level, ITS BEEN UNREAL.
Can somebody explain,please, the massive increase in trading volume over the past 5 days. Close to 20% of the outstanding shares have been traded. I am unable to see any one entity building a position.