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Can't understand the SP being where it is after all the money I've spent with MMAG! Books, CDs....
I took a small punt in this when I first saw Damian Hanson had taken a position.
It looked interesting enough to risk a small amount in the hope that something might happen.
Looks like even with Hanson increasing, the price has dropped so far back that I'll be unlikely to get anything back.
My holding is small enough I can risk losing the lot. I'm treating it like an option now.
The lowball offer on the table sounds feasible, maybe it's Hanson.
I could see the business being split up into media & tech.
I think Vardey hit the nail on the head. Ex-Owner driven emotional attachment to the business and losing the sight that since Covid, it's been a case of a death by 1000 cuts. The swings at ATM and rental have cost the business significantly and eroded it's value. Maybe there is something afoot to review the trajectory YTD but we are in the soft side of the year. Also, if there was any conversations happening there would have been leaks by now. So if they can't sell it ... what will they do is the question.
Agree with your points Josey- why do you think they are staying in offer period? What possible reason could the LT (guided by Shore )have to remain in what most on here believe to be an implausible stasis? Which they know is the main reason for the collapse in confidence? I don’t buy incompetent leadership as a reason. Unless there is a lowball offer on the table which they are waiting for a positive quarter of trading to help bump the offer up? Puzzling times!
And £13.1m debt and showed a £6.8m loss in last results.
That's why the share price is where it is.
For a true net assets figure you need to exclude intangibles including capitalised development. Do that and you'll see this actually has a negative tangible net asset value.
There's not been any recent notifications of any sales by significant holders - only the recent advisal that someone had increased their stake
Net assets of 12m and market cap of 6m is wild.
My guess is that there’s significant pressure from institutional investors to sell. However, there’s a misalignment between what the ownership believes the business is worth, and what any potential buyer is willing to pay. Something has to give
Well, net assets were 12m and intangible made up 12m. So if you have faith in the realisable value of intangible then it's crazy. Otherwise assets and liability are a wash.
So long as they've cut cost, focussed on cash generation and maybe some more margin in the US ... it should not be so bad. This nonsense in terms of staying in the 'takeover period' is a joke though.
You'd hope for some update at the AGM or at least some tougher questions which the board cannot hide from.
It’s crazy! mCap is less than the value of the inventory held end FY23-24 (£7.4M). Will the AGM stop the sp decline?
Well it doesn't take too much to sent this SP downwards. Was joking about the 4 or 5p but maybe it will arrive.
Similar size buy went through today. Maybe a bed & SIPP - or just coincidence.
Who shipped those 335k shares or will there be another RNS today? I don't believe my average would be as low as yours.
He just averaged down that’s all. Sub 15p exit looks great right now!! Get it lower that’s what I say. At 4 or 5p I’ll be putting an RNS in!
HAH, just trying to turn a blind eye to this stagnant price action in this share. It's definitely a good thing, just gotta laugh because otherwise it's depressing.
Strange comment
Mr Hanson adding can only be a good thing
Obviously it was just his turn to put another 20k in the meter. Back down c.10% today. Thank goodness.
I very much agree. Why RNS at EOP on a Friday though? What’s the possible rationale?
Very sneaky RNS. Given they're still in an offer period and Hanson's topped up, I'd say this RNS bodes well.
Mr Hanson topping up yesterday. RNS sneaked in at the end of the day.
I would not say I'm cheerleading this one. I've offered reasonably balanced opinion in my posts but yes, for me its a buy. Biggest risk is de-listing but I can't see where the 75% would come from. For you its .... well nothing because you are not invested and you're not short. Hmmm. You only post on MMAG so do you actually invest al all?
You're right, no-one officially gets fired from any business any more. We use settlement agreements.
Because I'm interested in what happes next, that is why. I am sure you're the same. As I posted yesterday anything other than cheerleading is immediately shot down. I guess emotions are running high if you have backed a lame horse.
I am unclear how you have made the leap from my referencing of recent analysis shared into the business to me being fired but you are very wrong! I don't think anybody has ever been fired! People have grown bored and left or been promoted into new roles elsewhere and there has been redundancies over the last 12m but I didn't ever see anyone get fired.
Why don't you sell up then? Clearly not for your appetite to hang around here?
Nothing you say is factually incorrect ... although reference to 'the team' might make one think you got fired from the company.
I thought the results was going to bring an increase and brighter days? It has been gone a month now and still the price collapses.....
Through whichever lens you look this is not a positive story.
Past month - down 10%
Past 6m - down 70%
Past 12m - down 78%
Since Apr 21 - down 96%
I have no doubt I will be dismissed as a troll or naysayer but the above are all hard facts. I am often asked to be positive with my posts on this forum but I see little to cheer.
Rudderless leadership, stagnant at best performance, a failed rental experiment - nothing wrong with that, it was a brave punt that has not paid off.
Customers are holding on to devices much longer now, recent research shared with the team has proven this and strikes to the heart of the core business. The 24m cycle of upgrading no longer exists! No upgrades, means no phones to buy, means no sales!
How long will the (invested) cheerleaders persist with trying to kid others boom times are around the corner???
"These buy/sell trades are so unreliable."
Have a read of this, it explains how trade reporting works.
https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html