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Anyone know of any reason for the move up this morning?
Of course it's undervalued..... but it been that way for a few weeks.
Yes LD1973, you're not alone !! Is there any part of life in the UK that a Regulator (UK Govt) doesn't interfere in, as now it's broker charges ? Why doesn't UK Govt simply list out every good and service we buy and set prices for them all, material costs and labour costs ?!!!
0.4% yield for me! cruddas better get us out of this **** show. can't believe he'd be too happy with the massive sp decline? bought in at 235p, was in good profit but was holding for the split! wish i'd ditched at £3!
Yes 1p tomorrow and hopefully no longer a Christmas turkey.
And I thought it was ex div today with the sp down a few % !! Is it the Robinhood announcement I wonder ?
Yes, despite higher interest rates, and thus CFD charges, there's a lot more volatility in the markets and I would think higher chances of making money trading..., but I'm an investor rather than a trader though can see how money could be made trading from some of my stocks !!
worth watching:-
https://*********************/media/cmc-markets-upbeat-on-future-prospects-despite-mixed-interims
or
https://www.youtube.com/watch?v=wawq_rrqm-8
if you have no rt account
cmc markets plc (lse:cmcx) chief financial officer albert soleiman speaks to thomas warner from proactive london after the uk-based financial services company released half year results for the period ended 30 september.
cmc markets reported a net operating income of £122.6 million, resulting in a pre-tax loss of £2 million, including a £5.3 million impairment charge. solomon emphasises progress on the operational front, highlighting the expansion of their invest uk platform and the launch of the singapore invest offering.
the £2mln pre-tax loss was largely attributed to subdued client activity due to inflationary pressures and the difficult economic climate.
soleiman reveals that the company will continue its dividend policy, reflecting confidence in future profitability. share buybacks remain under consideration by the board as part of capital and shareholder return management.
in closing, solomon expresses optimism about the company's future, citing ongoing strategic investments and operational synergies. while acknowledging the challenges, he sees significant opportunities ahead for cmc markets.
Can only be hold for now I reckon,
disappointing dividend 1p
hopefully bottomed though.
A ‘jam tomorrow’ rns. I was hoping for more.
*day trade
It’s a cyclical business. Whenever markets are rising and people have spare cash they say trade more.
"Marketscreener is forecasting" ???
Downgrades and negative analyst reports tend to cluster approaching a bottom.
Don't believe anything you can read for free, or aimed at retail investors.
FWIW, I'm "forecasting" that CMC will double in the next year.
From a Net Income of £178M in 2021 Marketscreener is forecasting £17M in 2024 and £25M in 2025. Struggling to see any deep value above 50p. CMC appear to have lost the ability to make any meaningful profit. Does anybody know why? I know volumes have declined but didn't they see that coming? Can't they adapt top market conditions?
AceOfClubs
It looks like it has bottomed. Seems like deep value at this level. Any retest of 93 is a buying opportunity.
They can buy us for £2 a share, that would give me back my profit ta
Plus500’s results have gone down well with the market. Over to CMC…
Have seen this mention in any RNS, this post is the first I've seen it?
Last year interim results said - "In H1 our Australian stockbroking business finished the period with a modest reduction in AUA from historical record levels which is in line with Australian market performance. Activity remains elevated versus pre-pandemic levels. The migration of over 500,0000 clients as of part the ANZ Share Investing acquisition deal is on track and scheduled to finish in H2 this financial year."
Then looking at the Clas Action website there has been no update for nearly 1 year:
On 19 September 2022, we filed an Amended Statement of Claim on behalf of the applicants and group members, which is accessible below.
On 24 October 2022, CMC filed a Defence to the Amended Statement of Claim. (has anyone seen this?)
On 28 November 2022, we filed a Reply to the Defence on behalf of the applicants and group members.
Just chuck your monry in the bin while the gods rinse every share price bar a few .
Yes CMC are likely to have various corporate insurance policies (professional indemnity, directors and officers etc.) but these are likely to have maximum cover limits and are unlikely to pay out for mis-selling and/or breaches of financial regulations and consumer laws.
Also, not all Class Actions succeed. CFD's are well known to be very risky so bit like suing the weatherman for not saying you'll get wet when he says it'll be rainy !! The buyer beware is an inbuilt to trading any financial instruments.
Someone wants to get in cheap for sure. Broker's notes are jokes, I usually ignore them completely
Planelondon: Presumably CMC Australia has Insurance for this kind of action ?
That's a hefty cut!
WIth the turbulence going on - they might be proven wrong - but maybe at the same time their target will be hit - then up from there. Just speculating
Broker notes about as reliable use as comments on these boards!