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my 10k buy showing as a sale they keeping price down
interim was good in my opinion. shorter are closing.... take over target?
Looks like the summary was purposely more negative than it needed to be which had the effect to drop the price significantly.
Now the actual results are better than expected.
Its a tactic I’ve seen before everybody sells on bad news, somebody however has probably picked up a good bit of stock on the cheap..
Let see where it goes from here
When I have surplus cash, I find it helps! :)
In all seriousness, FDEV are cashed up and one of the best video gaming stocks if you're looking for a nice debt free share with tremendous upside and little downside from here. All IMO of course.
The summary don't change in ten days. So the same text.
· Revenue increased by 16% over the comparative period to £57.1 million (H1 FY22: 49.1 million) through the release of F1® Manager 2022 in August 2022, ongoing sales of the current portfolio and new PDLC (paid-downloadable content) for existing games
· Gross profit margin of 63% was consistent with the comparative period (H1 FY22: 63%), underpinned by the continued contribution from the existing portfolio
· Net R&D expenses reduced by £2.5 million to £16.1 million (H1 FY22: £18.6 million) mainly as a result of the full amortisation of Elite Dangerous: Odyssey during FY22
· Operating profit rebounded to £6.9 million (H1 FY22: a loss of £1.3 million) through a combination of a higher revenue and lower R&D costs
· Adjusted EBITDA, a measure of cash profit, remained as a small net outflow (an outflow of £0.6 million versus an outflow of £0.9 million in H1 FY22), reflecting continued investment in future titles and support for existing games
· Net cash balance was £42.6 million at 30 November 2022 (31 May 2022: £38.7 million). Net cash grew by £3.9 million during the period despite an £8.8 million cash outflow in November 2022 for the acquisition of Complex Games
I’ve never seen a company reiterate a profit warning 10 days apart using exactly the same text… utterly bizarre.
I sold out, the risk / reward does not stack up. Good luck all.
The chairman has got a rather large stake in this - I feel his self interest here is enough to allay any fears. Surprised this didn’t continue its recovery this morning, bought more.
I guess we’ll see soon enough. Watts is in the habit of offloading his shares at a high. Let’s see if he builds up his portfolio …
Would love to know what their rewards abs remuneration packages are - what CONDITIONS are in place to demand performance levels … I hope they’re not just hoovering shares and dumping with no conditions …
Yes, some wild swings - but mostly up... as hoped for.
@PYUECK, the RSI is currently 19, any measure below 30 indicates a shares is technically oversold. Looking at the long term chart, the last time the RSI was this low was back in September 2016. So yes, it's definitely oversold on technicals.
Is it fundamentally oversold? I'd say it's hard to see much downside from the current enterprise value of ~£135m, given that this is a company that typically produces lumpy operating results dependant on game release timing. I also suspect / hope that the new CEO has 'kitchen sinked' the trading update to reset market expectations completely, meaning future updates will be ahead of what was promised last week.
Time will tell, but with cash of £42m and positive operating cashflow I can't see FDEV going much lower than this...
Yep - time for this one to catch up with general market sentiment.
It is very disappointing to see this continue trial downwards.
I really don't get all this oversold rubbish. This company had a ridiculously high p/e which was dependant on new releases resulting in super fast revenue and profit growth. All new releases have been duds and no sign of any better releases upcoming. So why oversold? If there is some magic way this company will create something that could actually deliver the numbers investors were hoping for maybe but I don't see it.
Don't be one of those investors who screams 'oversold' just because something was 1000 last week and is now under 500. Ask yourself are there good reasons, in my opinion absolutely yes and in fact I can see next to no reasons to buy this one at all.
Yeah, hands up, did the same at 621. lol
Can I get a fundsrat to bring me some extra funds to average down, as I've run out?
Did the classic 'buy on drop' and spiked myself at 630, doh. This is now oversold IMO, will wait for a little while for dust to settle then see if I can buy in the 400's to average down. Real shame but it's not over by a long shot here
It was just a nervous PI. Can’t blame them.
We need good news stories from now on please Frontier.
Buyer for a seller, although I’m most sceptical of following any trades. Anyway the price ain’t gone lower. Happy to trust my own judgement. Looked a hive of activity when I drove past there.
I topped up again this morning, it looks like we have hit the bottom, ripe for a buyout and remember this is a organisation full of knowledgeable and expertise in a lucrative market, when it turns it will jump hard, looking for a 20% uplift from these prices.
Hopefully a sign of fair value?
Hopefully FDEV working hard in the background on new IP, or major news regarding Elite going F2P with item/currency sales to boost player counts. Would I pay £20 for Elite + £30 for Odyssey after reading the absolutely dire reviews of Odyssey? No.
Because you take your profit and move on. Always a danger that a suitor steps in; VAG and Porsche the standout example.