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Thanks Velo - the 5 figure profit I get from this will wipe out about 1/3rd of my shortfall from SXX - which could also get bought out, and then I'd be F.
What can we learn from this? Not much..
Been a LTH for 5 years.
One of Buffet's metrics is debt-to-equity of less than 0.5 so even he wouldn't have been in this...
. . . . you lucky, lucky, lucky, bstrds!!!!! - 50% in one day!?!
Shouldn't complain though. Been in and out of GNK at least 3 times over last few years and all with a nice reasonable profit. So adding all 3 occasions together really shouldn't complain at all. BUT I AM! As was thinking about getting back in. Trading forecasts looking good. And when price drifted below 600p I started to sit up straight.
- Low 600's then 580's, 570's. Did I see 560's on Friday?
In fact did it intraday to 550's for a time; was that Thurs, Fri or today?
Whatever, was just waiting for the bearish trend lines to commence turning to the upside; which would entail perhaps getting back in at a little over 600 maybe, with the insurance of a bullish uptrend underway for reassurance. Late afternoon decided to pay the house insurance, get a cuppa and a choccie biccy and come back; was certain it hadn't ceased dropping. 580's last I looked. Been having some service provider issues it was now approx 3:45pm and thought it must be later as LSE was now showing crazy process as it does just after close. Was almost on verge of tapping the side of the desktop and monitor as thought I saw 570's and the next - 620 something. Then just as quickly it was showing low 800's!!!
Feckin' LSE I thought - sort yourselves out.
Checked the time, had it gone 4:30pm? No, it wasn't even 4pm. What the hell is going on then? Stoopid service provider!
Looks up at the prices on LSE and they were not crazy buy and sells - but perfectly in tune - 850's was on everything and now it WAS 4pm. What was wrong? I came off my charts and came back here hurriedly and scanned over the comments. Seemed alarmingly quiet. Must be another malfunction like the market not opening until 9am the other day.
Lots of WOW's about. So they were the same as me.
But one shook me.
It said "Question is whether there might be further interest".
I instantly ran cold.
The RNS had a '1' lit up so clicked it and . . .
- ARRRRGGGGGGGGHh! FECK! FECK! FECK! NOoooooooooooooooooooooo! It's a flecking' takeover! Sheet!
Feckin' L!!!!!!!!!!
But I shouldn't complain. No one could have foreseen it.
Whilst you're all celebrating consider this quote about GNK, today (from behind a pay wall):
" Yet another foreign takeover bid for a UK company. Something is going on here - no doubt helped by weak sterling, foreign investors seem to be untroubled by Brexit risk, and are snapping up UK listed companies at a remarkable pace. Which pubco will be next then? "
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If this accelerates will we all be working for foreign owners in the future? The opposite of what all Brexiteers had envisaged I expect.