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Interim's are ok, but I think the market was expecting better than 'ok', so like most shares stuck in a bear phase investors are a bit edgy? I know that whatever I have bought in the last year have all gone down and yet they seemed really cheap at the time but the economic bad news and slowdown has now caught them up and I don't feel like adding anything more myself.
Inflation and higher Interest rates are having a big impact everywhere including reduced volume in shares trading.
Well, that didn't land particularly well with the market...
Gap down 10%
My stop loss got triggered in some manipulation a few days back, at 131p. Whos laughing now eh!
I bought some at 106, 2 days later sold them for 121. 15% gain. Very happy.
Not so happy that it didnt retrace back a little to let me back in, butt I also have a core holding which is now back in profit.
I think we might be seeing the base in many (quality) small cap stocks now, but there is also the summer holidays and further volatility as headwinds, hence selling for profit, which has been scarce for me. I would buy a few more if I got the chance, and go up to 5% on my pf, but have 3.6% currently.
AFM doing the same, and possibly CNIC - two I am watching closely as I hold.
REC FY results very soon, similar company, similar quality, will be a good barometer here.
Have been a buyer of these shares since August last year. Topped up a number of times, over the last eight months, when shares dipped slightly.. It is now my second largest holding. Still think it has further to go but maybe time to hold buying any more for the time being. Any views welcome.
The Dividend yield is below the base rate.
Makes no sense but such is the stock market , the company seems to be doing all the right things , investing for further growth so I guess you just have to wait it out and eventually it will get the price it deserves.
Seem to be continual selling but I cant see why? Anyone got any idea?
Just bought topped up yesterday so I feckin' hope so!
Has this been oversold? Company has shown impressive growth is this a buying opportunity?
Not so much upwards , I would have thought that the current volatility would be where AGFX makes most money but obviously the market thinks differently , this looks cheap to me but I've been wrong before. Anybody got a clue ?
I bought in here at 73p last April, so I'm very happy to see the gains since then. The intra-day price fluctuations can be crazy though. An ex-AIM MM once told me he could swing some AIM shares 10-20% either way with just £10K. I wouldn't be surprised if their isn't a bit of that going on here. In the long run, it doesn't matter though, as the SP is obviously moving up on very good results.
Just an opinion but wouldn’t be surprised if there is a takeover here sooner or later. Good value vs peers, profitable, increasing the dividend and growing quickly
https://www.youtube.com/watch?v=3DT91uvU1bg
Useful interview in link.
Nice movement today. Maybe it wont be so undervalued from here on?
MIDAS SHARE TIPS: Backing currency trader could start your cash rising - Argentex looks after businesses, financial firms and the wealthy
By JOANNE HART, FINANCIAL MAIL ON SUNDAY
PUBLISHED: 21:51, 3 December 2022 | UPDATED: 14:29, 4 December 2022
The foreign exchange market is the largest financial market in the world, with more than £5.5trillion of currencies traded every day, far exceeding stock and bond markets.
Many trades are purely speculative, as banks and brokers bet on the direction of certain currencies.
But currency markets also provide an essential service for anyone who works regularly with customers or suppliers from abroad.
Argentex operates in a specific area of this vast industry – looking after businesses, financial firms and the very wealthy, who want more than is on offer from their high street banks.
The firm floated on AIM in June 2019 at £1.06 and its share price had risen to more than £1.60 by January 2020. Then the pandemic hit.
Argentex shares lost their way, the firm had a couple of wobbles and the stock fell to below £1 earlier this year.
But chief executive Harry Adams used the Covid downturn to strengthen his business and the results are starting to come through. Sales are growing fast and the shares are now above the flotation price once more, at £1.19. They should continue to gain ground.
Adams founded Argentex in 2012. Then a 30-year-old foreign exchange trader in the City, he spotted a gap in the market.
Huge multinational firms could use top investment businesses to sort out their currency needs, while holidaymakers and small businesses could use high street banks, post offices and bureaux de change. Mid-sized firms were in a bind. They wanted more than traditional banks could give them but were too small to be of interest to major foreign exchange specialists.
Fortunately for Adams, his currency clients included the billionaire Sir John Beckwith. He backed Argentex from the start and his family office, Pacific Investments, remains a 14 per cent shareholder. The investment has proved sound.
From nothing a decade ago, Argentex has nearly 1,400 customers, including supermarkets, carmakers, oil producers – even flower importers and motorbike manufacturers.
Many of these firms have complex foreign exchange needs. They may be exporting to or importing from several different countries. They may be buying goods from one part of the world and selling to another. They may want to lock in rates months or years in advance. Above all, they want to know that they are in capable hands.
That is where Argentex comes into its own. The group adopts a private banking approach to its customers, taking time to understand their business so they can offer tailor-made advice and service, however complicated or unusual the demands.
Adams does not indulge in speculative trading or trading on its own account. Instead, Argentex focuses purely on customers' present and future currency needs, minimising foreign
Phew!
And all is well again, perfect up trend.
The senior management merry-go-round continues.
Of the 7 non-corporate partners of Argentex LLP at the time of the IPO in mid-2019, the partnership that runs Argentex day to day, only 3 partners now remain. Two partners, Carl Jani and Sam Williams, the former CFO, “left” last year, and a further two have “left” this year. One is Andrew Egan, a co-founder, who was Chief Commercial Officer, and 5.7% Argentex shareholder; the other is Dan Merrick, who was one of 5 senior sales staff.
Olivia Lang, who was Chief Compliance officer, was made partner in 2021 but also “left” this year.
The just published interim results included one-time non-recurring costs of £0.8m for “senior staff changes” (and set up of overseas operations) so evidently one or more pay-off was involved.
The CEO may not be the sharpest knife in the box but it looks like he keeps a sharp set of knives at hand.
Up 5% on opening today. Vastly oversold. So people getting in at these prices
Is 96 going to hold, or is that gap to 90 actually going to get filled?
Tick, follows tock, follows...
Nothing's 'assured' mate, but your post is a timely reminder of some of the good points, thanks!
Usually takes a few days after results for iis to study figures, discuss amongst analysts / fund manager before buying - they have their own internal checks & rules to follow. Pis expecting a rise that has not occurred, probably bailing in panic. However, there is strong support at the 97 - 99p range, with large buy orders on the book (iis) prepared to take everything sold off at below 100p. Once the panicked Pis are out, sp should settle.
Sp and the company still in the turnaround phase and will take another set of results to regain full confidence. Expansion in Holland so far, looks very promising indeed. With growing profits and a re-rating at some point, the upside for the patient here is assured.
Results did confirm that the momentum of Q2 has followed on to Q3, so all is ok so far. But as ever, Pis react to the sp, and it's a very contagious emotion.
A 20% drop in 2 days, following stellar results??
Another weird AIM stock with bizarre, non-sensical share price movements.
All one can do is ride it out now, but I'll be looking to exit at any reasonable opportunity because when a share makes these big negative moves for no reason, I get nervous.
I am a holder, and have been for some time.
I agree with those who object to the LTIP; it is joke at our expense.
The revenue and TSR hurdles are ludicrously undemanding. In his interview with Paul Hill of Vox Markets yesterday the CEO said that the revenue CAGR in the four-year period since IPO has around 30% (it was about this from 2016 to 2021 if you calculate the number) and “and that there is no reason why we shouldn’t be able to track that sort of metric going forward”. That makes the 15% revenue CAGR risible, especially in view of all the current investment in people, expansion overseas and technology. Similarly, a target TSR of 10% compound for a dividend-paying growth company is hardly a "hurdle" at all.
The NEDS and “certain of the larger institutional shareholders” who nodded the LTIP through must have been asleep at the wheel. It would be interesting to hear who those institutional shareholders were and their rationale for agreeing to it.
And, of course, by paying no further dividend in 2022, the dividend payment in 2023 in respect of the nine months to 31 December 2022 will count towards the TSR target; how convenient. The whole thing leaves a bad taste and is insulting to shareholders.