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Jan 28 share price was 904p should read Jan 20.
Agree with your earlier comments Tom. Couldn't put it better myself. When the share price falls it doesn't just trip it stumbles and falls. Jan 28 the share price was 904 p, by Jan 28 it had fallen to 749p, then by Apr 16 it was 950p. A history of slow rises and steep, sudden falls. Rinse and repeat. The stock market gives with one hand and takes back with two hands. IGG are/were confident to keep their dividend. Expect a fall of around 30p come 23 September on ex divi date.
Good luck all. Still holding here
CM
I think this drop is overblown but it would be silly not to assume the same...
Look at all the smaller shares and the volume is rubbish, less trading less profits, could kind of see the writing on the wall when Robin Hood cashed out ..
Last year was amazing for brokers ect..
The thing is if we keep on going markets will be fun again soon abs we will have revs..
That’s just the problem with this never ending bull market
No, I think the Q1 trading statement will be on the morning of the 22nd before the AGM. However they should know the figures now so I see no reason why they couldn't issue a statement saying "we know of no reason for the 10% drop in value today". Unless of course the figures are bad and we needed the correction.
It will be interesting to see what happens over the next few weeks as the news leaks to the market.
Well overblown drop.
Q1 trading statement 16th Sep.
Brutal drop now 10% and no bottom in sight. Always history repeating itself with this share , I have been through it so many times, Hetherington quit, Tastytrade etc I must be stupid to keep on holding it over £9 as sooner or later it has a massive wobbly and years of hard won gains lost in a day. Worst of it is it is not on our own trading statement, at least will maybe it will take the sting out of out next trading statement as the market looks to have made up it’s mind we are missing guidance.
I don't think they'll be able emulate the 209mn seen q1 last year, which itself was an increase of 62%. CMC talked about being one-third above pre-pandemic levels, which if the same applied to IG would mean Q1 revs of c£170m. Anything north of this figure should be considered a good result. At least IG have some higher growth areas than CMC eg Emerging mkts and TT. However, we also have to remember IG have already talked about revenues 'moderating' this year which does suggest a fall. Anyway, let's see what we get!
Thank you Cruddas and your two penny outfit
well they better hurry up and get the first quarter trading statement out then, preferably before the AGM on the 22nd. It was the 17th September last year with Q1 revenues of £209 million. If they are anywhere close to this figure we could see a push on £10 per share.
Share price fall today is related to trading update by CMC, down 27% in early trading, due to trading being subdued. See CMC RNS for report. Hold onto your hats. We've had a reasonably good run of late.
CM
They are now way down from the high of 70 to 45 now, but still valued at 37 Billion dollars
against IG Group of only £4 Billion
Not disappointed with the link up with Tastytrade in the USA. Money spent looks like peanuts compared with what the market is valuing Robinhood at.
Always need a mixture of organic growth,acquisitions and shareholder returns with an investment.
I am happy holding my IG group investment at a low average price.
surging today, now valued at 10 times that of IG group - makes IG look an absolute bargain in comparison.
Robinhoods IPO had it valued at $32Billion. I have been reading reviews and many think that TastyTrade is the better broker. Robinhood attracts smaller investors which gives it more volume, but there's no reason TastyTrade can't move into that segment. IG is piling up its cash and if this is to invest in developing the US market, there's potential for Tastyworks investment alone to make the shareprice more than double.
Yep, odd spike then drop, wasn't it? Who knows!
Uhm wtf happened into the close?
Swanny - can you please elaborate on your comment: "...sided with the shorting hedge funds against their clients on Gamestop to stop the ultimate short squeeze." I believe this statement to be completely untrue as all trading on GS was curtailed, not just on oneside. I know this to be true as I tried to short GS and was not allowed to. The truth is that IG fully hedge positions, and hence would only allow trading in GS where this could be done. If they couldn't, then trading was curtailed in order to protect the business and shareholders. From a shareholders perspective, this is to be applauded.
Day traders will slow down once everyone gets back to work, and however good IG may be I personally would never buy their shares after they sided with the shorting hedge funds against their clients on Gamestop to stop the ultimate short squeeze.
Secondly they have deleted all the small shares from their portfolio a few months ago, so I for one use them a lot less, as probably do many others.
FV - comparing Q3 results which also had YTD with full year results, shows that Q4 revenue 20/21 was £206m, so looks like down 20% versus last year? Also reflected in fact that 9mth revenues were up 66%, but this fell to +33% at the FY stage. So that looks a bit sobering?
Financial results RNS is all about the excellent year 20/21 has been. The step up started Q4 19/20 ( Mar / Apr May 2020 ) when Covid kicked off, net revenue more than doubled in Q4 FY19/20: £259.5 million v Q4 FY18/19: £117.9 million). Struggling to find net revenue for Q4 FY20/21 to compare to record Q4 19/20 of £259.5 Million. Given that active customer numbers over FY 20/21 stated by IG is + 30% v FY 19/20, net revenue % increase should have increased be a similar number. Can anyone find?
I bought more pre-announcement and am happy. IMO fair value here is now well over £10, though I'll take some profit at £9.50 as and when we get there. I didn't expect a div increase for this year final div, and while that is a bit annoying it's still 30p which is a heck of a return. They did say they are re-evaluating divs for the coming year (or that's how I read it), and I'm expecting a return to progressive divs to come within 12 months (and potentially from the next interim div). I don't expect a special div.
Only reason I can see this not heading north now is if sentiment in the rest of the market drags this down, but I won't really care, I'll just top up and take the ludicrous dividend yield. Regulatory threats are getting ever lower due to diversification. Japan is a fantastic hedge.
I'm not informed on TastyTrade, no real opinion, but even in worse case scenarios I see it as a minor drag on an amazing business, and in best case it's revolutionary for the long term. I'm not really factoring it into my opinion.
Overall it seems good, but shareholders need a bigger slice of the pie and no increase in dividend is disappointing. Either they are holding back with further acquisitions in mind or don't want to commit to it if profits are expected to fall as Matt says.
Either way this needs a rocket up it just to get it even to fair value imo.
So consensus eps was 94p so 1.08p was 15% ahead (revenues about 4% ahead.). Stock on 8x PE which is too cheap given these results. However, 2 things need clarification:
- Why was the dividend not raised (I suspect conservatism following TT acquisition, plus waiting to see whether revenues pull back next year)
- Exactly what they mean 'moderate' when considering revenue next year. This is critical, as the market expects revs to fall 5% and profits by 25% next year and IG seem to be confirming a fall. Clearly the 5-7% growth longer term is fine, but what will be the 2022 base from which this starts?
Ugh sorry very early morning here... it was quite good 45m on 100m revs