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Looking like a push upwards is on the cards.
Another run at 188p?
Yes still bullish 185p hold would be big. That said I’d take +0.1 up end of day as every positive day is big after the last 2 months we’ve had..
Still looking bullish today
look at all the shorts rushing to close on that dip to 180p.
Pretty sure I read that BR have stated that they remain supportive of THG and will retain their trimmed position.
Standard for BR to loan out on most of their positions. Easy way to generate fees.
I think too much emphasis is being put on Blackrock..... Blackrock as a whole has hundreds of short positions across the UK and mainland European markets
This is just one position held in one particular Blackrock UK Fund - decisions of which are made purely by that fund manager alone ...and if they decide to rebalance the fund portfolio weighting ... ..then that is a common practice ....Fund Managers often rebalance holdings on a quarterly basis ...adding or selling
Indy0105,
Thanks for that v interesting. Following with interest today to see how the market digests Blackrocks latest RNS
My thoughts on the RNS for what they're worth.
BR previously had 5.37% shares = 75,335,789 shares. To cross the threshold below 5% yesterday they would have had to have sold a minimum of 0.37% or 5,190,734 shares.
From the RNS, it only shows the date the threshold was crossed, being yesterday. It doesn't state the date they started reducing their position from 5.37% stake. Also, they must have been selling prior to yesterday as total shares sold yesterday were 2,029,282 (= half the traded volumes or = half the buys 2,328,846 + sells 1,437,323 + unknowns 292,395 - data from ADVFN).
So based on the volumes traded in the market and knowing there was more than 5.19m shares sold off by BR, they must have been selling this stock down over the course of a few days at least because the sold volume is higher than the last couple of days full traded volumes, hence the recent price push downs in the last week and possibly why the price recovered yesterday when they possibly stopped selling (or this little bulleting board actually ramped up the price with the talk over the linkedin posts - which I doubt).
Another point, in the previous BlackRock RNS 18th October (link below), they showed they had 7.2m shares out on loan to shorts.
https://www.lse.co.uk/rns/THG/tr-1-notification-of-major-holdings-vdx5vlvmct93gvy.html
See in the link 8B1. Financial Instruments according to (DTR5.3.1R.(1) (a)) / Securities Lending / Number of voting rights that may be acquired if the instrument is exercised/converted / 7,184,497.
Have these shares on loan now been sold, pushing BR below the 5% threshold, and signaling a reduction in short selling pressure in the run up to a peak trading statement?
So the question now is have they stopped selling? Have they sold off the short positions? If yes to these questions we could start to see SP recovery. And who bought the stock? Retail investors? MM? Directors? Other major investors? Is another RNS coming to show the buys?
So I wouldn't see this news as negative just yet, especially after the positive share price action we saw yesterday and closing in the green today also.
I'm still very much a novice retail trader so can someone with more knowledge and experience than me please check my understanding here and advise?
Thanks.
Value, take a look at the ADVFN board. The TR1 could actually be the reason for the rise yesterday. Interestingly it could actually be a positive for the share!
Blackrocks clearly saw all was well with NCYT so they purchased huge amount of shares at 1200p. Please check the price now.
T Rowe, Sofina and Chrysalis are no shrinking violets either. You can’t read anything into these fund movements
Blackrocks last THG share sale at 195p was well timed. Personally I'm wary of buying currently. BlackRock have a long association with THG and clearly they do not see all is well within the company even at these very low share price levels.
Rns not very clear, just that combined voting rights have reduced slightly
Should not be too in awe of Blackrock these days considering their judgement over massive loans they lent to "Evergrande" Which probably will default.
Well if THG needed any encouragement of getting the trading statement out early this latest Rns might have just done the trick.
" Might I add that Allegra did a fine job at COP26 :) "
Allegra whose husband is a good friend of Rishi Sunak and who is a friend of Boris's wife ..who "appears" to have been on a salary £125k ..with not exactly a lot to do
I would worry more about Sterling crashing than THG..given the pack of idiots running the country
" the last time they had a formal market presentation the share price turned south. "
Having spoken to a number of people opinion is that 1-2 analysts working for certain Investment banks specifically targeted the presentation with the aim of trying to put the CEO in a bad light ..banks which were shorting the share
Oh yes, it was a work related meeting and all of the rules were followed... But they may fail to recall any other parties, I mean work related meetings dates when prompted... Might I add that Allegra did a fine job at COP26 :)
Given the governance around THG it wouldn't surprise me if they thought it might be a good idea to spread good news around informally like this. Its not their strong point. After all, the last time they had a formal market presentation the share price turned south. I would be cautious, that's all, pinch of salt and all that.
" and they had a party because of it. "
Ooops..better if they call it a "work related" meeting :-)
Cardinal3
Well maybe so....true
But..many companies use Linkedin a bit like Twitter and promote their successes/news which goes to their LinkedIn followers
Some of the followers then perceive them as a good company to work for...and apply for a job
Followers are generally within the industry/sector
My suspicion is that an email has been sent round saying how well the numbers are, and they had a party because of it. The not so business savy employees got excited and posted about it.
If you are an employee celebrating achievements why would you post on a third party open site like LinkedIN? Wouldn't you be whatsapping or emailing your colleagues internally? It feels odd and orchestrated to have so many quotes from different colleagues.
For all those needing some emotional support today, lets go back to our friends from THG again:
(for anyone who's new here or didn't see yesterday - these are exact quotes taken from posts by THG employees on LinkedIn celebrating recent performances over November, Black Friday and Cyber week.)
"This year’s Black Friday was more special for me as it was the first ever Black Friday for Homebase with PHENOMENAL results."
"The very first Black Friday campaigns for Homebase and Bathstore not only delivered, they absolutely smashed expectations out the water! "
"It’s Singles Day 2021 here at THG! Last year, our Beauty Brands Team Asia had a record breaking day and won ‘Team of the Year 2020’! The team already smashed this years targets before the day had even begun & will be celebrating all their efforts next week! "
"An amazing first Black Friday with THG Ingenuity! Congrats to all my fellow fashion team for smashing our target! here’s to the rest of cyber week & many more successful Black Fridays to come!!"
"The end of my first Cyber Week at THG Ingenuity as an E-commerce Trader, and what a week it’s been! After months of hard work, preparation and relationship building, I drove my account to exceed target throughout the entire Cyber period with some record breaking numbers. "
"Well, that’s a wrap… 5th Cyber Weekend with THG completed! Shout out to all of our amazing affiliate teams in Beauty, Own Brand, Health, Ingenuity, Luxury, Consumer, Diet and Glossybox for delivering a record breaking year for the channel!"
"I have learnt so much this weekend, and I am very proud of my team smashing our targets!"
"Happy Friday LinkedIn! THG’s Beauty Squad have been working incredibly hard to ensure we have another record breaking Q4 so we thought it would be a nice opportunity to get together, share our successes, award our weekly nominees with some great prizes & raise a glass in anticipation of the huge Black Friday / Cyber we are are no doubtebly going to have in 2 weeks time!!"
"Black Friday at THG is not just another day. It is the defining moment of our financial year. I am SO PROUD to say that this year we hit RECORD BREAKING sales, new customers, onsite conversion and traffic numbers across our Australian Beauty sites. What a way to wrap up another phenomenal year. Bring on 2022!"
"On Friday THG Beauty joined together to celebrate our stellar performance through November including a record breaking Singles' Day 2021."
"BLACK FRIDAY 2021. What an amazing event celebrating another record breaking trading day"