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Why oh why do so many companies think that the USA is the way to go. The lure of the huge potential is too difficult to resist, but so many from the UK have been stung in years gone by. It's a difficult market to crack and the USA is protectionist. So, they've basically retreated from the USA and wasted all the money that investors stumped up for.....people must be sick as a pig to see the price slump.
Then there is a question mark of £23 million of loans to a joint venture in Japan. The statement implies to me there is doubt as to it's recoverability and also a muted comment about whether they will carry on in Japan in the long run.
That then leaves largely the UK where the directors have suddenly realised (doh!) there is room for further expansion. To the directors I say, stick to markets that you understand, UK and closer to home such as Europe.
And it will be interesting to see if the Directors show their confidence in the company by buying . What a volatile market AIM is. Far too much manipulation in dealings. I've seen this volatility so often before with the likes of fevr and asos (when it was in aim). My view is the drop is overdone. We're back to square one with a 2015 price tag. Only thing is, when is the entry point on a falling knife. I often go in too soon. Sometimes best to play the three day rule and if slightly lower and levelling off then may go in for a little punt. More often than not this stock rises nearer Xmas. It's just a question of going in at the right price in the hope there is no further profit warning. I hate this sort of update. It's full of bs talk to disguise bad news, so I'm still hesitant on this one.
Convince yourselves all you
Like but this is a busted flush
Top of the leaders board tomorrow. I think lack of sleep affected peoples judgement. Buy of 2022 today IMO.
While we expect a temporary lower sales growth rate and profit margin for FY23 as we carry through our adjustments, the result will be a business delivering greater results, with less risk and an even stronger balance sheet with a higher profit percentage growth in FY24 and FY25."
Reading the update the market reaction does seem pretty severe. This is a performant company on many fronts
A 45% drop here is way overdone looking at the trading update. Expect a bounce up tomorrow
Expect a lot of TR1’s coming in tomorrow as many institutions been scooping them up cheap today. Total bargain. It’s not like they’ve gone the other way online to retail space - the other way is THE way - online why pay overheads for staff/commercial space. Crazy reaction I actually think it’s a good thing they’ve announced as it’s a cost saving exercise also US is in a different set of operating circs & expensive way to do business there.
IMHO DYOR GLA
U/T of only a little over five grand ! Strange
Stopped buying can only ….sell lucky bought earlier and some for my sip ….going to recover big time don’t take less than 100p ..for a quick profit…
Huge buys incoming:-)
Bounce to 1.50 pleeeaaaaaaaaaasssse
Shame we are leaving US though at least we will still be in the market online, and I hope we'll be returning in the not too distant future as that's a ridiculous market. However makes sense given recessions and inflation to make sure the foundations are strong before further growth.
Flingers crossed this is the last big drop for many a year but Aim stocks do love volatility
I have added £12.5k today having convinced myself this was a bargain around £1.50 ..........?
Think seller nearly out any moment, watch out for reversal. Way overdone considering SP had already fallen significantly before this update..
Two top directors own over 54% of shares alone!.. They'll prob be scooping up more at this level!
What a gift....one of the dumbest drops I've seen in this bad environment
Thought bad news was already priced in £2.20 with last placing at this price lol
Should bounce hard once seller is finished here.
Agreed, more large sells and now starting to bounce. Hopefully sells now cleared
Not the worst results I’ve read, market massively overreacting and maybe seller causing panic?
My order got filled at 123. Very happy with this price!
Auson. - Yeah you could be right. I have always admired this company but thought it a tad pricey as an investor. Now looks cheap to me.
Hope they don't melt in the heat ??
Fredster,
In my humble experience Blackrock tend to prop trade a few selling into weakness so they can hoover them and more back up at a cheaper price. Have a look at Centamin for an example.
They seem to do this when the sp hits a trigger point.
Just bought a further tranche at £1.25 - cheaper than their chocolate now!