Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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I think there are a bunch dreamers in Jefferies, 1500p we should be so lucky.
Jefferies upgrade was today. 1500 as I said. Maybe they're right after all as we're up nearly 5p.
Can't see Jefferies estimate. Cazenove recent one 1100
So you don't approve of free speech. Extraordinary. Where would you draw the line ?
Jefferies now has price target of 1500.
Shorts have increased to 3.5%.
There's a case for broker estimates to be banned I think.
Thanks for the query b/2rads,
Re-checked and think I may have confused another holding of mine, that's holding a presentation and a full year results announcement today.
- I was referring to the RNS of the 13th Feb. Looks like I am in error. Apologies.
- It states March 5th as the annual trading results with an analysts presentation at 9:30am. Speed reading and posting on both boards, so apologies to all for mis-posting on a pre-results update today.
It fleetingly crossed my mind at the time: 'That's a bit close for an update, so close to the results'.
All markets badly down this morning, including US futures, possibly on fears of the virus becoming a pandemic. So added pressure on the SP.
Velo - where does it say there will be an update and presentation before March 5th ?
That billionaire boss of the Citadel hedge fund was in the media everywhere yesterday, even receiving updates on news items on my phone! What a stinker on what is supposed to be an upbeat day for GVC. No info on what data Citadel is basing it's shortpositions on so a bit nasty that initial drop of the SP. It was gearing up nicely for a positive reaction before the short announcement.
No sign of the pre-results progress update yet, anywhere, so likely later this morning during the analysts presentation.
Thought they might have released that part, pre 8:00am as a separate RNS.
Checked the internet, but he (Citadel) isn't divulging just what he's seen that's led him to short GVC.
I suspect either he feels closer to US sentiment as to allowing a foreign company direct access to US markets with potentially hostile regulations and a White House that is itching to punish any foreign company that is seen to be from a country that is pro Huawei.
If he has anything bearish that is on the balance sheet now, then he's not confident enough to spill the beans, contrast that to those hedge funds that do release their findings publicly and widely to all and sundry (aka Burford Capital saga; day receivables). Or he's not saying, because he has illegal access to insider trading.
Both Citadel Advisors and Citadel Europe (I'm assuming different branches of the same outfit) have a combined 1.83% of GVC loaned holdings in play. The media bit available said he's punting £80m on shorting GVC.
But 1.83% of the free floating shares of 580.4m comes to 10,621,320 shares - and at Friday's close that's £91.6m
He's listed as last adjusting his short on the 7th Feb. So he's either quoting at Friday's close £11m higher or back before the 7th in which case he should still be in profit. But the number of shares involved come to way more than £80m.
The amount is even higher if he sold into the market around the 7th at roughly 890p-ish. (Or was that him on the 13th when the SP dived from just under 930p to close the day at 865-ish?) Again way more than £80m.
Obviously some of his older transactions were done way back, so not all done on the day. Whatever, if this doesn't come off, the loaned shares still have to be obtained from the market and handed back to the original owners. Presupposing the annual results impress the market, and the SP rises, will he call it quits, and be forced to buy back into the market thus driving the price even higher just to return stock to it's owners?
I think from the figures above he's in way deeper than his announcement of £80m. So any increase in the SP as a result of the imminent trading updates etc., will have him squealing.
The Times certainly have it in for GVC, shorting of 3.6% of shares isn’t particularly news fit for a headline! Hedges are obviously banking of even further regulation, but from what I’m hearing punters are placing just as much money.
Seeing the results on sports betting over the past year I can see nothing other than outstanding results coming. Then add in to this all the cost savings being made from combining various departments, I personally would not want to be shorting this myself, but we shall see.