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Going the right way this morning
Just need a couple of good trading day's and it'll be back
Anyway, its not worth topping up - because Greggs is doing well. more steep declines are inevitable after each positive trading update etc...
Because the market is corrupt. I think we have recession fears that have not been stated loudly enough.
Berenberg raises Greggs price target to 3,550 (3,440) pence - 'buy' - ridiculous innit?
Blackrock reduced in june and shcroders reduced in july.
Having said that, Greggs looks a good business.
There's no sense in the market so we'll see.
Totally agree , weird that shares seem to fall more on good news than go up these days!
Strange with good forecasts this SP is falling, why do all shares seem to fall these days on good news , seems to be a pattern that suits short sellers more than good news....how bizarre, is there something we are missing here!
I find it absolutely incredible the SP has fallen to these levels and I'm in at £24 quid
It really does make you wonder who's taking it down to make at the other end
Here come the real selling - its just gone past around 2pm
A lot of stocks have been stepping down since May no matter how good the business seems to be.
I was over the moon this morning when my limit order kicked in @ 2372, doubling up my stake. But I am still puzzled why a profitable, inflation-beating business like this is still going down on the market, is everyone moving money to Gov bonds regardless?
Https://news.sky.com/story/greggs-working-on-overseas-trial-as-uk-value-focused-sales-surge-12975628
I wouldn't worry too much because the shares are too cheap and will be taken at this price, they'll be back up before the weekend
Third quarter sales rise and the share price drops? What do they have to do?
I started looking again yesterday but when it rose 20p and then 30p it was too rich for me at £24-78
I sat down later thinking what am I about to miss when they put out an excellent trading update in the morning
They did and I just couldn't believe the market reaction, very similar to my Halma who are another top quality company just like Greggs.
Good results and a big drop, it doesn't add up, anyway I took 500 Greggs this morning at £24-00 and see that as an absolute steal, had I had more cash to hand I'd of bought twice that.
Hold on in there, this is a company going forward and so will the share price
A sad reflection on the the market place when a clearly successful operation gets hijacked by a group of financial muggers.
Rather typical of the UK at present !!! as noted previously/
Is it any wonder that British companies prefer to list in NY or Amsterdam..The LSE is just crammed full of shorters,as a number of fund managers have completely withdrawn from our market post Brexit..This means plenty of downside,but only small chances of upside
It’s the whole market. In the years to come buying now will have been a gift.
I dread trading updates. I bought on the previous sharp decline- but still deep under water. After this morning, I'm drowning. There is no logic in SP movements. what has Greggs got to do ?
@casapinos Indeed the day to day SP worries me little. Its a long player. I guess there's always a bit of buy the rumour, sell the news.
Will be holding this a lot longer than a sausage roll takes to go cold ;)
HI Iain.. it's impossible to predict SP reaction to trading updates, largely because so much trading is automated these days, minor moves in either direction are magnified as the "bots" mindlessly follow the trend, after all that's what they are programmed to do, and is largely responsible for the erratic behavior of stocks in the short term. As a sensible investor, the best plan is to use your own judgment and occasionally to buck the trend, it works for me.
Today's figures are the usual picture of steady well-managed growth for a company in a sweet s[spot in the market. If the SP falls sharply I will add, otherwise, I will sit quietly not panicking, safe in the knowledge that despite an extended P/E there is much more mileage here.
Great trading update once again.
Will it drop the price like last time?
Can someone explain to me what Greggs SP has to do with this US Fitch downgrade conundrum ?
Yes .zstarz I recommended both your posts. IMHO this is one of the most undervalued stock listed and well overdue a re-rate upwards. Good Luck. TT
@casapinos
It was straight forward profit taking by those expecting an upgrade to full year guidance. The underlying business remains very strong and on a growth trajectory.
https://www.sharesmagazine.co.uk/news/shares/greggs-serves-up-tasty-first-half-results-but-upgrades-absence-sends-shares-down-55
Update I've just been retracing the background to the insurance claim and I think I've found why the SP has cratered today. Imay be wrong because I've only spent an hour or so and there may be much more detail out there but it looks as though there were expectations that GRG's claim would pay out much more than the £16m shown in today's RNS see
https://www.retailgazette.co.uk/blog/2022/10/greggs-wins-150m-high-court-covid/
this article suggested the claim was for £150 mill.
I've been out of touch for much of the summer in darkest France with limited Internet access, but I haven't until today seen the figure of £16 million quoted and that's a long way from previous assumptions, so even though GRG's business numbers are good it may be that a much bigger insurance payout was being factored in by analysts.
Anybody care to add anything they know?