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What makes you think that Mathew?
As for people buying cars, i can see this, but, there is barely enough parking in many towns/cities and as bojo and his cronies have been hating on cars for years, an increase capable of affecting public transport revenues by any noticeable amount will cause huge road problems, which will likely drive people back to public transport.
Listening to the BBC news earlier. Apparently, rather than use public transport, people are buying cheap second hand cars. It looks like the downward pressure on performance will be with us for sometime to come. People are using their season ticket money to buy a car.
Not happy with this price movement as there is next to no support below these levels. Moonman, you may have been sensible in jumping ship. Hope I can cut my loses as quickly if this weakness continues!
This is strong at the moment and will pull through but will be in a battered state when things get back to normal.
I'm more surprised by yesterdays rise on the back of results which were more or less in line with expectations. I don't think we will see much action this side of Christmas.
I will admit to being slightly surprised by this downward slip so soon after ok/good results, could be good for me, as i was looking for a sub 50p entry point, so still watching with interest.
And yes, I do agree this is cheap right now, and can see a good return by years end from these levels.
SP not responding, downward spiral to sub 50p
there is absolutely no chance of SGC going bust but do agree the funding is essential right now and will be for several months.
However every Government realises how essential a good public transport network is to the economy and its workforce and also the concessionary schemes which bring much needed spend to the towns and cities.
The UKs big 4 Bus Operators have bottomed out and ( even FGP!) are sound long term investment opportunities right now and I recommend all to jump on the bus sooner rather than later.
So I've done ok with it.
I've always had a bit of a soft spot for SGC since the days of travelling to work on the East Midlands Trains some time ago. I always had good service from them. I'm staying in here long term.
Agree 100%. What is there not to like about these results, SGC and this SP?
As we go thru the phases of relaxing lockdown the government advice on public transport WILL change and passengers will return, not to pre COVID numbers but SGC and the other big operators will cut costs to suit where needed and expand where smaller operators leave opportunities. Stagecoach are masters at adapting regionally and locally.
It will be long slow return but this SP will rise and dividends will return, absolutely no doubt!
£90m profit on a company with a market cap of £300m.....so this only has 3 years of life left in it ?
Buy all day from me , smaller companies will go bust and there will be cheap supply of buses , drivers and depots available to take over contracts at higher prices.
Personally I had a feeling it would be ok.....
Lovely surprise.... Very tidy profit !!
now +15%
bugger lol !
looks like a steady opening at 52p roughly 5 percent up.... looks like I called that one wrong
"Maybe the reason for the share price drop is the dividend being cut. If so, not exactly a surprise as GOG cut theirs and FGP don't pay one but the market does like to over exaggerate!"
yup... the market also like dividends, any whiff of them not reinstating after the forced suspension, and this will either tank or never recover, seeing that happen a lot with other shares that killed their dividend before all this even started, and now are not recovering at all
From a technical perspective, its already close to oversold status, with a close to 30 rating in the RSI index so any significant drop will bounce back fairly quickly, imo of course.
without having access to level 2 order book info, i can't say with that insight, but, yes, it does appear as though the 50p mark is a point of support/resistance to further falls.
That said, as i posted previously, i would not be surprised to see a momentary knee jerk drop of up to 10% when the results are released.
We are right on a major support level, this level has to hold or I fear the worse. let's hope there is good news tomorrow on the back of the results. The move down could have been about trying to get people to sell positions, a bit of a squeeze by the MM.
Gl All, i`m in this with you.
Re Craig30 No!!! But if you have some spare cash then who knows! I was looking to top up but gently gone off that idea during the day.
There is no way they will pay a dividend in the current climate. Think investors would freak out at that. Cannot see how the results will be good but a decent, upbeat review will be welcome. I think SGC has already taken a big hit with First results so don't see how the market hasn't built that factor in for SGC and what the results show tomorrow.
Should get an RNS at about 7:30am. Click on RNS icon above.
I'm I right in saying the update will be on the stagecoach website from 9 am ?
Would anyone buy some today on the off chance that shares may rise from tomorrow ?