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Shorts reduced but still dropping.
No idea why anyone would sell out at these levels. Patience required here, can go back up as quick as it went down if you look at historical charts. GLA
Fear setting in by the looks of many posts. Understandable but I’d never sell at these levels. There’d be a long list of companies who’d go under long before this one imo. I’m going to top up and hold. Each to their own.
I will add and hold at these levels...6.4% shorts means they need to buy 6.4 million shares...They've had enough gains already and i suspect they will have to cover them now..
I just topped up again, amazing how cheap this is now.
Autumn and winter clothing sales plus Xmas to come.
Mike Ashley bought 2.9% of the company.
And shorts need to cover 6.4m shares.
Looking forward to the massive payday in a couple of months.
John it is evident, IMO, from the price action that these will no longer be a going concern by Xmas. Short ASC and win big. Go long and lose the lot IMO!
Dogger69, are you touched in the head.?
There are record numbers of students about to go to uni, and guess what is traditionally their biggest purchase for the next few months.... That's right clothing!
Get with the times you old fossil, Asos are a sleeping giant
Jon, Daughter and her friends about to go back to Uni. They have been ordering clothing from ASOS in different styles, sizes and colours, 90% has gone back, how do you make money out of that?
Don't worry when the daughter and her friends get on onlyfans at uni they will make plenty of money to buy the extra push up bras and knickers from Asos to help us all out if this hole
I would like to agree. I went into this share at a horribly high price because of what I saw from my daughters age group. From what I see now, I would not go in even at the current price, indeed at any price. The only reason I still hold is in the expectation that something may arise that I can not foresee and that the falls when they have arisen have been so steep that I have hoped for some sort of bounce that had not really happened.
The whole market is getting screwed.
The really big issue is the increase in fuel/energy costs, however the government will step in in September to fix this to look like hero's.
The fact the fuel/energy companies can put up prices and recorded record profits and dividends to utterly shameful and going to bite them on the ass soon.
Yes generally the cost of living has increased. However the real issue is fuel/energy and just like in the 1970's with OPEC crisis this will be resolved soon, as the money makers will want the markets to turn bull to make more profits.
Otherwise if the cost of fuel/energy is not sorted by end of September this will start a more serious market crash that very potentially for the UK which is alone (due to Brexit et Al), will literally mean the end of Britain.
The UK market is made of consumers and services.
The lack of primary and manufacturing has put the country into a very seriously bad position.
It's clear this is what the government will do. They are currently on holiday and squabbling about who should be leader.
Expect both donkey one and donkey two to both come out and say reducing energy bills is top priority.
Whoever wins will do that (and their Tory overlords will make sure the energy companies follow the party line) to make themselves hero's to save face with the next general election campaigns already coming into sight.
Share price falling so steeply. Will this go bankrupt? Margins are so thin.
£5 before the end of the month....
Hmmm I think the week has effected poeple quite a bit. Maybe the weekend will be a time to clear heads and perhaps market will be a bit more positive next week.
£200 million has come off the ASOS MCAP in last 5 days and I that just seems a little crazy for the week's news flow to me.
The inflation data is high yes and rents are going up, but unemployment remains low and we have had a lovely summer where some would have bee n buying the summer stock.
To be positive... lets hope the SP recovers a bit next week.
at this price this company is very cheap
someone will take it over imo like they Reebok did with Ted Baker
that is my opinion
I can see Asos going bankrupt for sure!
Agreed mike Ashley buys small companies here and there. Asos is too big of a price and risk for him. The shear number of shorts makes it scary can they all be wrong?
according to last interim
45% debt ratio and 1.5 current ratio .. is not bad
Well a some point the shorts will break cover as alot of them will have a lot of profit and now risk a price tally that damages that.
Mike Ashley has traditionally bought failed enterprises, however maybe he's looking at Asos as a way to go global which is in with give his son in law those massive targets.
And can already hear the Tory leaders clearing their throats ready to say they have gotten the energy companies to put a cap on costs to house holds.
All in all, Asos is looking like a good buy and hold to double money from here over a few months.
On the 16th May RBC Capital markets had a £72 price target on Asos. Glad i don't pay any attention to broker forecasts. These guys are supposed to be experts!
Experts in getting it wrong
Mehmehmeh, take a look back at the history of shorting on ASOS. Not too dissimilar a % to many other occasions. Whilst the shorting is high for obvious reasons the tide will turn. I see this as an exaggerated fall, in the same way it was ridiculously over inflated during covid. Fair value is multiples of the current sp imo. Perhaps not half way between the peak we experienced and the current sp, but certainly not where we are today.