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Bit puzzled as to where the shares are coming from, data on this link is delayed but fairly accurate - not showing much in the way of sales or buying.
https://fintel.io/so/gb/docs
Bit of indecisiveness on my part, not sure whether to wait for half year results but on balance decided the risk of a move upwards is greater than potential disappointment which would hopefully be temporary anyway.
There's clearly a seller feeding the share repurchases, if this stops then the market could be quite thin.
As I posted on the dark side all the last official trading updates are in line with expectations this is utter balls from Barclays
Other than the current climate etc they have also been rectifying their USA logisics issue for some time.
Funny old world
Yielding 5.1% at this price it's a no brainer for me, buy and hold
Yup 95p would be my buy
Here is the explanation for Barclays cut
https://uk.investing.com/news/stock-market-news/dr-martens-slumps-on-barclays-downgrade-3235184
Sharecast - The bank said that having stuck to its ‘overweight’ rating through several profit warnings, it is now downgrading due to weak Google (NASDAQ:GOOGL) trends/Similarweb data and a big second-half weighting, given macro risk.
It also pointed to increased capital intensity via store growth, pressuring EBIT margin/return on capital employed, and greater conviction elsewhere in its coverage, given the wider de-rating of consumer stocks.
I was tempted to sell some of my oilers and jump in here today. There is no doubt that the current SP represents a good buy in price but I cannot help think that if they didn’t buy 700k shares today where the price would have ended up. It is definitely flaky and if the mood music is negative on the 30th, who knows where it will end up. That said, mid-term your cash is safe at these prices, but tempted to wait a couple of weeks. GLA.
I bought in at around £1.40. I am not selling, but have already spent enough on DOCS shares. But if I hadn't, I would buy at these levels, though could make sense to wait for the trading update first.
Next Trading update is 30 Nov 2023 for FY24 Half Year Results. If the update is negative this could get down to 95p, which is where I am looking to buy in.
I'm in at 98p.
Time to fill your boots? ... see what I did there...
Will this get to double digits?
Barclays cuts Dr Martens to 'equal weight' (overweight) - price target 140 (175) pence
0.5% short declared 6th November. Looks like more shareholder value is to be destroyed. Shame really as it’s a good company.
Guessing there’s a monthly volume cap on the buyback hence why it stopped before the end of October and then started again on the 1st. Hopefully steady progress to report at the end of the month will get this out of the doldrums.
1/2 year results 30th November
Buy back has started again - when is the Trade update. next week?
Well, something has kicked-in here, anyone any idea what is driving the SP up at this time? GLA
They are £30m in to a £50m program. Seems to have taken a breather for a week or so.
https://www.drmartensplc.com/application/files/6116/9866/7948/Issued_Share_Capital_tracker.pdf
Has the share buyback been completed now ? Looks like it and ahead of the next update at the end of Nov. Hopefully back to £1.60 plus soon.
78% down from IPO heights, scandalous, no wonder the FTSE is a joke.
What the feck is going on here? I have always done well trading this share but this seems crazy low. I remember trading this in the 190p’s last November then it fell about 25% in the New Year, I was fortunate I didn’t get trapped. It has got to be ready for a bounce? Fear and liquidity is creating some strange valuations.
Monty888; wolverine make CAT boots (and Hush Puppies amongst others). DOCS would be a perfect fit for them
Markets are turgid at the moment but this fall seems overdone. Not sure if there’s anything behind it or just algo manipulation and at some point it’ll turn the other way. Novembers update will be keenly watched.