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been almost a year since the apollo bid @ 240 which was abandoned without explanation.
the business has stabilised and on a much sounder footing since then and has a very impressive order book with the potential of a reinstatement to the dividend list which the times touched upon after the last recent update .
i feel only a matter of time until either apollo has another go here or other candidates will come to the fore to take advantage of these very oversold levels.
i also note that david lockwood as been appointed to the board as a non executive director commencing 12th march, david has a very impressive track record-recently stabilising and growing bab**** to health besides selling cobham to a us private equity predator.
this company’s days of independence is numbered imo and a great opportunity here…
before bab**** didn't he turnaround a previous company for a sale?
A great appointment - David Lockwood - look at that experience, know-how and previous positions. Hopefully, he will help WG move forward to a decent valuation from where it is now.
Haha. Just googled marshall Wa and found my comical answer!
What do theyvsee that I am missing?
Or were they caught out by a decent update and now trying to manipulate the price to save them?
Strange behaviour with these tiny ups and downs reported a day later.
Good posting Cheshire !
FYI:
https://www.woodplc.com/news/latest-press-releases/2024/wood-drives-significant-growth-in-middle-east-with-850-million-of-wins-in-2023
https://www.woodplc.com/news/latest-press-releases/2024/wood-continues-long-standing-relationship-with-equinor-in-brazil
GLA
Possibly gearing up for forthcoming M&A season,....drive it lower then the upside is so much greater?
Pure speculation on my behalf, and could be both ways, as we approach the anniversary of Apollos walk away and the outlook looks brighter for the sector, to a certain extent and depending on your own point of view.
GLA
More like a bid for James Fisher from WG. / merger synergies
I don't really understand what's driving this move. No news and from a technical perspective, it had cleared the resistance of the down trend back in mid December, so it 'should' be on and upwards.
Knives out for this one again!!
Really thought this had settled into a new area around 170 but yet again it proves me wrong. You really can't take your eyes off it without some sort of bounce - usually to the down side!
VT- I couldn’t have explained it as well as you have in charting terms, but I concur with your sentiment. The SP seems keen to rise for no obvious reason, when many other stocks are in the doldrums. It’s almost a year since Apollo approached us, but it finally feels like we are starting to rise to that SP territory, and hopefully, beyond 240p.
Imo, c1.77 is at top of the downward channel which commenced during 2019, probably been a lot of technical driven bearish bets which were profitable during this period, however a concurrent bottoming pattern looks set to win out, so imo we are at quite an important inflexion point which could be causing some of the volatility and imo could result in a bullish breakout
Fidelity have seen value, but the value is longer term.
If the management team turn the company around, which appears the first green shoots are there, then the SP will naturally recover in time. Failing that and on the same progression, then you would have to think envious eyes would again be looking on and again have some Blue Horseshoe, who knows.
It's a hold all day long for me, but I now only hold a very small position, as I'm way over my exposure limits in PFC, albeit it's a pure binary play for me, I see greater uptick in PFC than WG, but that's not to say there won't be any uptick in WG, there may be, or there may not, time will tell.
GLA
Equally perplexed and frustrated JG.
Do feel like it is being yoyo'd for someone's advantage.
I went against better judgement and have traded in and out a chunk and at least partially caught that last swing with a couple of k. Sold them again a moment ago hoping this isn'MW closing and about to miss a leg up with a portion of my original investment.
How do they get away with this?
It's beyond blatant, this isn't supply and demand its bordering in fraud imo to drop a price so much, allow someone to load up, and then rise it up again.
This is the work of humans not Bots.
Many shares on the stock market are like this. Hard to use the term investment, it's more akin to gambling or the 2.30 at Kempton Park !!
When you get volatility like this for no apparent reason, it makes me want to sell and just take the profits I have.
Thinking about it even if dividends are reinstated, the earning from them and likely rise in sp ( which won't be seismic) will still be not worth risking a decent profit for now.
This is why the UK is a dead place to invest and make profits.
Coincidence that MW increased their short Friday, course not
Games, doubt it’s legitimate
Wtf and ffs
Strange open
PFC? now that would be super.
A few extracts - link below
Mr Gilmartin was bullish on this point, saying new contract wins will drive positive cash flow in 2024 and "significant" positive cash flow the following year.
https://www.heraldscotland.com/news/24046906.wood-hints-shareholder-returns-group-seeks-rebuild-trust/?ref=rss
Wood chief executive Ken Gilmartin has said the group continues to "update a refresh" its capital allocation policy with a view to rewarding shareholders as the Scottish energy services giant makes strides with its strategic overhaul plans.
Speaking after the Aberdeen-headquartered group said annual earnings would come in slightly ahead of expectations, Mr Gilmartin declared "the big ship Wood is on a significant turnaround". While unwilling to be drawn on exactly when cash might be headed shareholders' way, he emphasised that Wood is committed to maintaining growth momentum and "rebuilding trust with investors".
We’re excited about the momentum we are building," Mr Gilmartin said. "The big ship Wood is on a significant turnaround, we’ve delivered on the promises that we’ve made for the past four quarters and closed out the year really solid, and we’re in a really good position for continued growth.”
Wood was the subject of five takeover approaches from Apollo before the US private equity group abandoned its solicitations in May of last year. Its final offer had valued the business at £1.7bn, or 240p per share.
Shares in the FTSE 250 group, which employs about 36,000 people globally including 3,000 in Aberdeen, closed yesterday's trading nearly 3% higher at 156.9p.
Analyst Alex Smith of Investec said Wood delivered a "strong" set of results for 2023 and is winning significant contracts in its key growth markets. He is forecasting revenues of $6.4bn for the coming year with earnings up at nearly $453m.
Https://uk.investing.com/equities/john-wood-group
check the 1 day chart and put in 1 minute interval !
Prelude to a bid later - IMHO