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.... except the previous owners ( who were told they would of had a vote on the companies future) and no longer the legal owners and most probably have lost not only their ownership stake in the business but all the money they had invested here. And yet EVE goes on - sort of as if nothing had happened here! What a board of directors we used to have - thanks for nothing!
One last time; here are the eve.co.uk traffic figures for October
https://www.similarweb.com/website/evesleep.co.uk/#traffic
Hi D, fwiw I think it was more a buying opportunity then a sell right now. (I posted over there when it was around 890p that it was probably a good entry point.)
I think (with the normal to and fro that 1000p will be a good place to reappraise. (It will depend of course on the latest RNS. If the company is unaffected by macro conditions then there would seem to be quite a lot more upside to come, hence my longer term view on this one.)
Hi Wyn, yes, I have just over £1100 in WOSG (was £1K :) so little point in selling a portion. If it suddenly went crazy it'd possibly be worth selling the lot but that's rare and certainly not at all likely WOSG. Nice to know that I am not far from a plan though.
Hi D, If it were me I think that if you someone wanted to trade this, now is a good place to sell as I am pretty sure the RSI will be close or above 80 if this rise holds by close. The more it rises above 897p the more likely it will fall back to around this level to unwind the RSI so just hypothetically if you could sell at 915p, say, then there is a good chance of buying back in lower down but, is the 2% likely move worth it?
Thats when sometimes its about actual money rather than percentages. If there is £1000 invested then we are talking about £20 which after costs makes no sense. If its £100k then its a different story.
It sounds as though you have a firm plan to take some or all profit at 30% gain. As you know I take a fraction of the overall holding at 30% profit and then more should it get to higher amounts, to bank profit and reduce risk.
Its mechanical and its looking more short term, so make sure this type of approach matches your timescales.
good luck
Morning Wyn, yes, still here :)
Nice rise at WOSG today. Thanks for that one. Some blue on my list is welcome.. I will do nothing as my holding is not large but looks like RSI has room for more increases and so it could get into overbought? At which point, if I were up 30%, I should theoretically sell a portion..
Would that make sense?
Another one I will do nothing with (as I'm still in the red) but which has a rising RSI toady is COPL. The chat room is full of rumours of JV with ExxonMobil. We shall see.
if you are still here D, any further thoughts on WOSG?
.. the information given in EVE presentations ( now we know CC states she never even read all the data) by CC. TP & Co has cost people here?
For myself if CC & Co read this I had the majority of my savings trusted to the information supplied and today I sit on a cold house not even able to put the heating on!
Alan R; obviously lost a lot too; perhaps though it was not all his savings.
Just copied this from the Made.com LSE chat page:
'neil777
Posts: 582
Price: 0.52
No Opinion
RE: SuspensionTue 07:47
Oh well it stops anyone else losing anymore money.
Utter disgrace and that CEO should never be allowed near another company again... she was so out of her depth.
Sorry to all who lost money, including myself but lessons learnt I hope. We won't get a penny back so better to leave that discussion alone
This will be bought out of admin, probably today by DFS or Frasers I have no doubt.
Expect news headlines by 5pm stating exactly that'
When you’re talking to yourself.
And nobody’s home.
Note CC says
“I’ve been making decisions on wildly inaccurate data for two and a half years,” she said.’’
Like WTF?????
... and does this admission by CC mean some or all of the information given out to shareholders via presentations etc over the past 2 years was not indeed correct simply because CC had not previously checked it?
.....Source of previous post:-
https://www.marketingweek.com/eve-sleep-cheryl-calverley-data/
Also on a marketing site CC says:-
‘If there’s one thing Eve Sleep’s CMO turned CEO Cheryl Calverley wishes she’d done differently when she joined the direct-to-consumer (DTC) mattress company in 2018, it would be to interrogate the company’s data and data practices more vigorously.
After kicking off a review of the firm’s data models in January, Calverley discovered that some of its data was “wildly inaccurate”, she told the IPA’s EffWorks 2022 conference last week.
“Not being a massive data head, when I [joined the business] I didn’t start ploughing through all the data pipes,” she said. “I wish I’d known how ****ty our data was.”
On review, it became apparent that a lot of “assumption” had been built into Eve Sleep’s data, Calverley explained.
“I’ve been making decisions on wildly inaccurate data for two and a half years,” she said.
“If I could go back in time, the first thing I would do would be to ask all the difficult questions – really difficult questions – and be a right knob about data [I] make decisions on.”
Calverley was promoted from CMO to CEO in May 2020, as the business looked towards its “next phase of growth”. The company went public in 2017.
However, like many startups and small businesses, Eve Sleep has struggled through the economic turmoil of the last two and a half years, which began with the onset of Covid-19 and has continued thereafter with skyrocketing inflation rates. Describing the events as an “economic tsunami”, Eve Sleep today (17 October) called in administrators.
The company’s share price has dropped by over 90% this year, as it has reported declining revenues and profits. In its interim results released last month, Eve Sleep posted an 18% year-on-year decline in UK revenues, against a homewares market estimated to be down 23%.
Gross profit was down 33% to £5.1m, while marketing contribution (or operational profitability) fell from £0.7m to a loss of £1.2m.
“The scale of Eve was simply insufficient to withstand the economic tsunami that has gathered momentum over the past six months,” Calverley has said.
“We have moved heaven and earth to seek a way forward as an independent or acquired business, but ultimately prevailing market conditions just do not support that.”
Any chance Pacha you could cut and paste that entire CC article as it seems to be subscription site for those of us who are not - hence we can’t read it. Thanks though for finding and highlighting it.
Hi Dontgive,
If the customers had carried on buying eve stuff at 2021 levels, once the manufacturing and transport costs went up in February, March – and beyond – there would have been a problem as the margins would have been cut. Even when CC 'chose to be unprofitable' / 'invested in the business' (a different debate) the business was only just in surplus, on a knife edge.
The customers undoubtedly fell away this year and that was Putin's fault rather than CC's.
Imagine that war had never happened and assuming that customers had continued to buy at the same levels (why wouldn't they have done?) then eve would probably have gone to plan with France catching up the UK business, all with CC / TP in charge.
Do you blame CC for customers drying up?
My thoughts are pretty pointless now and we are where we are..
Thanks for that Pasha. I don't have a sub for the magazine but the headline says a lot.
Not a shareholder myself and my thougths with all SH who have suffered losses. But I've always paid attention to what was going on at Eve and have come across this new artice today tat I thought you LTH's might want to read. Best wishes to you all.
https://www.retail-week.com/home-and-diy/former-boss-cheryl-calverley-i-wish-id-taken-eve-sleep-private-years-ago/7042651.article
After this disaster and presentations by EVE board AIM companies should be required by UK laws to have business accounts monitored every few months by independent accountants - shameful what has been permitted to occur here with EVE - existing shareholders may have lost but laws should be challenged and changed. Shame on CC, TP and entire board for the decisions taken that ran EvE into administration
Thanks Yanis - CC & Co proved to dogmatic to change - I dint think there anything left for shareholders who held looking at those figures. CC, TP etc just walk away now leaving some of us ruined.
Terrible DGU, Bensons got a steal. We told Cc to give up France but she wouldn’t have it, she knew better. Now we are bankrupt. There is nothing we can do about it though, annoying as it maybe. We just need to move on. I know is difficult but we have to.
As per:-
https://www.retailgazette.co.uk/blog/2022/10/bensons-for-beds-paid-just-600000-for-eve-sleep-rescue/
Yes, that is always a problem. But there is nothing wrong with sitting on your hands.
I only take stuff out if I think i am likely to see a biigger gain elsewhere is a shorter timescale.
So today with the latest fall in HE1 I have taken the last bit out as it had broken a support and put into AVCt as it is on a support/resistance line (127p)and with the recent upward momentum looks more likely to be a breather on further gains than presaging further falls. (but who knows..._
As for WOSG, it looks to be going up to anywhere from 875p -900p so i would not sell until it got there. (Although i think over the next 2-3 years this could be a very good return with little risk so i am not anxious to overly trade this one, rather let the market do its work on this one over time.
Thanks for that wyn. Always appreciated. The problem I find myself in now is that, without putting new money in, I have to sell something at a loss to do any trades at all.. I do think that there a chance of many coming good so I am not feeling particularly glum about it all. A bit of good news with Avct and a sniff of helium and all will be well (more or less!) and some valuable lessons learned along the way. Certainly I will be selling 30% on a rise once the RSI is above 80, as that seems the simplest way of improving things. Then, who knows.
I have a friend who put some savings into Lloyds a few years ago. He needs it back shortly. If he'd sold every time the SP approached 50p and bought back every time around 42p he'd have got 50% more by now. If I had any cash in my account I'd perhaps do that myself as the pattern remains.
Hi D, as long as you don't mind I'm happy to pitch in.
Your example "...that if I were 'down' on a share yet the RSI were 85 I would find it hard to sell even though I know the likelihood is that it would fall back shortly......"
That scenario would mean I think, that you had bought initially at a higher price, then it fell quite a bit and you did not close out sooner, hoping it would rise, and maybe it did a bit, but it fell further so that it then ends up with an rsi at 85 but still below your buy in price?
Which is why you have a stop. The stop price that makes you sell should be "proof" that your decision was wrong. Ie you bought in the expectation it would rise, but it fell. Thats where support lines are important.
The whole concept between a support price and a resistance price is that the SP oscillates between these two prices:
Lets say Support 35p resistance 50p: If you buy at 45p and it falls to 41p, you have lost 10% which is a lot. But so what? it has been in this range before and gone back up. Your stop would be 34p because if it went below a level where previously it went to and recovered means that now the buyers are not there at 35p so the SP will likely fall further until new buyers are tempted in and a new support is found.
So you would be buying at 45p with a stop of 34p (11p) for a rise to 50p (5p) a risk reward of 1-2!!!! which is not worth the bet.
You would buy in when it bounced off 35p for the 2nd or 3rd time, say at 38p, risking 4p loss for a 12p gain to 50p which is a 3-1 risk reward which is the minimum you should be looking for. If you can't find it on a stock you "like" then simply look for another.
Remember, you are not forecasting what will happen just finding bets that put the odds in your favour with a profit sufficient to cover the occasional losses hence you need at least a 3-1 risk reward ratio.
Just buying a stock at a random price and if it moves a few % the wrong way, sell it, will I am pretty sure lead to losses over the (probably not so) long term
Buying loss making, small companies tends to make the moves and spread larger meaning losses can be greater.
If you want to play around look at big stocks like BP Shell, AAl ASZ Glen etc and see what the moves are made over the days/weeks/months to see if you can identify the supp & res lines. (do the trade on paper. you don't have to actually place hard earned on it and just practise by paper trading. (You may be surprised I think, how easy it is to do when it is an academic exercise taking all the emotion out of it compared to when you have real skin in the game and that in itself is instructive.