Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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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.
Very vulnerable at this market cap to M&A now. CAT sold just boots (aside their trucks and diggers) now selling boots, shoes, workwear and nice well made clothes etc. A big US company could take DM by the scruff of the neck and really extract huge value (Maybe CAT or Timberland are already watching and preparing 😎)
What is it going to take to get these shares moving upwards, a size 9 Doc Martens 1460 up the proverbial??
Likeitonot your right .i still think it's a bargain,for a quality company.
Why price drop? Practically everyone who has ever invested in this stock (for more than a month) is nursing a paper or realised loss. The sales are from those who no longer have the capacity to hold on. Pity, as I think it will be better than average (from here) in the medium to long term. Good news is that the £50m share buyback program (which still has £25m to go) is now hoovering up shares at these lower prices.
Does anyone know ,What's going on price drop.
Likeitornit;
You raise a good point. Is it that Birkenstock is overvalued or we are undervalued? Personally I think both.
Personal view is DOCS is very much undervalued. I have no user attachment to DOCS it's just a (value) investment to me, only ever having bought 1 pair for my daughter. Notwithstanding such, I am still acutely aware of the cachet, and with such comes appeal, and premium pricing/pricing power. Once the metamorphication into a listed company out of private equity has settled, and the US stocking/warehousing under control, that cachet will drive through into profits.
And the cachet, uniqueness of product, will sustain a 100 years (of profits, free from debt payments), albeit I particularly see the value of the brand being absorbed within (bought by) a wider apparel group,
The repairing, recycling initiatives to me are just side shows, not profit streams in their own right, but are valuable in reinforcing the brand, quality, the personal, trendy, (ie not commercial) attachment to DOCS.
The ONLY downside I see to a rewarding long term investment here, is the quality of the product. Historically, the quality, the longevity of use, facilitated a premium price point, brand loyalty, repurchase - that quality went down under PE stewardship, and I don't see that it has reverted positively.