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Yes I have said it from the start the worse is yet to come for spoons
Forex I think sept results could bring a shock to the market, after all the last prediction given by the company was a reduction in sales of 15%.
Peltata, I have family that work for JDW unfortunately the pub they work at is still not open so I don't know how the trade has been. I have been privy to the communications sent during this pandemic hence my comments on the app and all I can say is the way they treat their employees is disgusting, just look at Tims video. These people on the front line are the reason this company is still in business but Tim seems to think he's doing them a favour. I know he has looked after his pub managers and just treats the rest of the workforce as a disposable commodity
This will be down to £7 by Christmas will be up and down like a hookers knickers until we just fall into a down trend to around £7
I said back in March that I would not look at these shares until they fell at or below my target price of £7. It could be that my target price is getting ever closer. Come on my lil beauty!
ClarkCP, thinking about this, there might not even need to be any update to the app. I mean they can change prices without an update - only tricky part is that alcohol is exempt from the offer, that’s the only reason possible to require an update but even then I don’t think customers will need to do anything.
Still, we’ll see on 1st Aug.
Forex, how low do you think these could go? I set myself an exit target of £8, but look at the panic for the exit with EZJ and their placing was £7.04 with only around 5% of shares. 20% of JDW was at £9. Be interesting what you think fair value of these are?
Peltata, I agree the cost of fixing, altering the app is pennies for a company this size. I'm waiting till Monday to see if app is working. If not, very worrying me think.
Yes was a little surprised they got away with a recent Placing price of 900p to strengthen the balance sheet. That £140m odd raised may start to come into play rather quicker than expected , as previous footfall will take quite sometime to recover given Pubs remain a non essential for many. It’s an avoid for me.
Don’t catch a falling knife
The company is not even breaking even
Coming out of a pandemic break even sounds way better than continuously haemorrhaging cash - that can’t continue. Break even at this point when things are getting better implies we’re on the up.
My brother in law works as a drayman for Heineken and deliverS to a lot of weatherspoons and there is not much beer been delivered at all he has said it’s less than half the amount in some outlets even less the frightening thing is this is summer wait till the winter comes Tim Martin is ****ting himself while trying to act the big man
Break even is no good to them people are in business to make money and big money at that break even is no good to anyone
The update to the app will be a trivial expense for Wetherspoons as a single update covers so many pubs, it’s pretty straightforward too so I’ll be amazed (and worried) if it isn’t in on time.
Personally my view is this, Tim is not prepared to spend money getting the app updated cause the trade doesn't warrant it for 4 weeks earnings. Which means trade must be dismal.
Have just heard that there is a problem with the eat out to help out being available on the app. Customers will have to order at the bar to get the discount. Wonder if other places are having the same problems or whether JDW can get it fixed in time. I wouldn't be calling Mat Han**** though to sort the app out.
Time for a top up pubs coming back to life slowly but surely . Feel sorry for the dude who only buy stock with his social conscience his p/f must be crap !
Even if a vaccine was out tomorrow I can't see this recovering for a long time. Share was diluted by 20% business model is based on high volumes. I just can't see his pubs being full again for a very long time
Considering it has been in the 1700 range this past year, Starting to get towards the speculative “punt” level discount. Definitely on the watch list. With an eye on Covid issues obviously.
Down we go it may be ok now wait till the winter comes bye bye Tim Martin you horrible human being
luckylurker
:-)))
A guardian article & you want me to open that & take the story seriously . With guardian readership at an all time low I bet spoons will be around a lot longer then these lot of jokers. Now that is good to hear.
yep small change for Tim but I guess he could buy nearly 5 million pints at his new reduced prices. Not sure what the fuss is when a director sells shares it doesn't seem to have affected the price that much but I guess you love or hate him. I am still at B/even but hoping for an upward turn when the pubs return to a regular routine my boy works part time said his branch had normal numbers in it this afternoon.