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Crazy drop out the blue and no news?
@Danf: "Crazy drop out the blue and no news?"
It's most likely due to this:
"Chinese fast-fashion giant Shein is making use of tax perks to undercut some British online retailers, the Financial Mail on Sunday said citing a major report to which it had been given access. Despite having operated in Europe for under seven years, it was able to use its tax advantages to sell at a significant lower price than British rivals including Boohoo and Asos."
Agree but I think this is doubled edged
Short term it looks awful but the more that is opened up about these Chinese firms the more regulation will come and level the playing field
Ultimately this is just another form of Chinese warfare (cripple Western businesses) and we are all sat here watching it happen
I had seen this story on thisismoney, over the weekend. https://www.thisismoney.co.uk/money/markets/article-10123145/China-giant-Sheins-tax-ruse-big-threat-Boohoo.html
My issue is that ASOS shares traded sideways for 3-4hours this morning, before diving, so it would be difficult to solely attribute it to the tax-clauses that Shein enjoys
I think MMs are probably having a playing field today and this shoudl recover to >27 within 1-2 days
Practically run by algo bot trades - like using a machine gun - but filled with small algo bot... sells ... or buys
Could be the mms have dropped the price for a shorter.
id guess it has something to do with the budget on wednesday. shares in the online retailers have been weak since the start but started falling off a cliff after media reports of rising minimum wage. while that itself isnt a game changer, its possible that other budget news has been leaked such as the online sale tax which has been in the papers recently. its an easy target to go for given what happened during the lockdown and what adds credence to rumours is that the physical retailers are all stronger today as well.
Agreed regarding min living wage - but that should affect physical retailers as well right? Unless we think that e-commerce companies are more likely to have staff on/close to the MLW, rather than high street shops?
"Could be the mms have dropped the price for a shorter."
I doubt it myself........ Marshall Wace selling into that nice rise ..I suspect ... and then....you just throw in a lot of small sells in rapid succession via algo bots ...which hit the bid ....because...they know that the market MUST stay liquid .... to keep the price drop going ... I imagine
any online sale tax - surely it wont just come in straight away .... maybe for April 2023 ....the corporation tax change has given companies plenty of notice to adjust/prepare .......absolute earliest would surely be tax year 2022-23 from April 2022 ...but knowing this Government if they did ..it would be a f*ck up
market will smell blood on the slip, can see this drop to mid 25's for a couple of days
bme and abf up, asc and boo down, nxt flat. as you would expect on an online sales tax trade. would underline there is no certainty or even suggestion, but it does look like either something was leaked/someone leaked or a rumour spread. if there isnt an ost announced and if the shares continue to fall until wed, you might get a relief bounce on wed.
Hopefully just a bit of backfilling. Some sales last week offering others to come in. Sold Friday and back in today. Gl
I have been in and out twice in the last week with this share, and both times made quite a good profit, but i was out all morning and never thought it would drop to just above 25 pounds, should have put a limit price on it.
At the moment it seems to be a great day traders share.
The on line sales tax was muted a few months back and then the yanks declared it would be discriminatory agains their big tech firms, so I thought it got kicked into the long grass , however it was talked about again last week. In any event we should know on Wednesday.
Tbh I'm more worried about increases to CGT. There's been talk about matching that to the income tax.
Going back to today's price action, I've no idea what caused it which is why I'm not a trader. My guess would be the budget, minimum wage increases, etc. But what do I know?!
Shein raw material is Xinjing cotton made by slaves
Kallu have some pride. Defending slavery as more “efficient” is sickening
This is your lowest. Really awful this fella
Also if you read the article a lot of tax chnages came during the trade WAR with the US via Trump. For example Shein not having to pay VAT if it manufactures in China but sell abroad is a purely aggressive economic policy. Nothing to do with Shein at all but just ten Chinese gov making sure they can under cut
As a moral human you should be opposed to this. It should be a free market on a level playing field. But it’s not
And your support of slavery is appalling
Would you call hitler efficient too kallu you utter tool? He was also much more 'efficient' at a few things too....
Finally you show your true colours and condone slavery as an acceptable way for companies to operate and make efficient their manufacturing processes.
After all, this is something primark are very familiar with. The company is pretty much built on child slave labour from india and forced labour from chinese prisoners back in the naughties when they could get away with it.
yep warfare is what it is, original sars never worked, sars 2 did. Cheap Chinese rubbish flooding the market, western governments allowing it. Not only producing **** they wiping out endangered species too, along with CFC 11 widespread in China last year. Western world to blame, should have left Japan to it in WW2.
There's no proof?
https://www.standard.co.uk/news/uk/marr-chinese-ambassador-uighur-muslims-a4502696.html
This is what is happening and what the Chinese gov are like. Honestly buddy you're slime you're so low. Every fashion business in the world is telling us it is happening even Primark
It's not a secret. the issue is you can't just walk into China and take some pics as "proof"
That you're not against this speaks volume about you as a person. Look in the mirror and feel A LOT of shame
Also being sexist on the THG board you're vile
Kallumama what is your motive here, a compassionate side being shown by you to the fellow human?
but they use more coal than any other country so not actually ahead in the green world:-
https://www.worldometers.info/coal/china-coal/
All those plastic Mcdonalds happy meal toys, plus other **** produced needs power.
But then again, less **** on the market soon.
https://www.cnbc.com/2021/10/26/china-energy-crisis-beijing-not-likely-to-lift-coal-ban-on-australia.html
Kallumama - your comments are some of the most shocking I’ve come across on here. You really are deluded and need help.