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On a serious note, how is this ever valued at £58m? I thought the drop to 145p, a year ago, was well overdone. Now it’s more than halved since then.
About time DB started buying a few!
Normal service resumed. I guess they felt obliged to give us one green day in thirty! Hahaha.
I continue to see sizable sales which look like institutional selling.
Definitely interesting, but no increase in volume, so most likely just some PIs.
Today was better
Another day of the AIM dumping hard and this is(slightly) green, in a sea of red. Have we found the bottom? Full year update shortly. Things may well change for the better.
GLA
The mkt cap of the company is now less than the amount that DB made by selling his shares back in Jan 2021!
on a down day it's holding well with buys compared to the sea of red on my screen
You guys make claims but don't provide anything to back them up. e.g. you'd never heard of Ince, which is a nearly identical company. And you made ridiculous (misleading) claims that KGH was the biggest law firm in the country, which is complete nonsense. I pointed out it was actually the 68'th biggest firm.
I like the company and am invested here, but I think it's wise to be careful when it's dropped almost 50% in a couple of months. I look forward to hearing some genuine news on fundamentals or technicals from you guys + anything from short-sellers, who are also most welcome here.
Nobody knows where the bottom is, but some of us are guessing that it's lower than the current price, which is a reasonable guess, given the continued selling. FYI: not all law firm shares are dropping, e.g. Keystone. I don't think the current drop in KGH is anything whatsoever to do with the other AIM shares. It's simply because there's a large background seller in KGH and it's a very thinly traded share. Obviously it could explode if DB starts buying again.
Good luck!
Exactly Dartron. Yes, update later this month and should give us a good idea of the current business. These prices right now could turn out to be a steal.
May have been a bit harsh but Canetoad references INCE in every other post. If one really does have so much doubt or so little faith in a stock, wouldn’t you best forget about it and move on?
I think what Pompal meant was that it isn't any more down than its peers. In general I am happy currently buying stocks with a 10 year outlook to retirement. I have enough knights shares already, but happy to hold. Trading update later this month?
In case you haven’t noticed, the AIM has been dumping this week and most are down.
I’m really not sure the stock market is for you.
Nope - tide is still going out. Big seller still offloading. Replay of the Ince decline.
Re: Keystones, they're in a totally different league to Knights, with an impeccable balance sheet and amazing growth. Knights is more like Ince... though I take my hat off to the exceptional ability that DB had in offloading such a huge block of shares right at the top. It looks as though the tide might have turned now, but who knows?
15.82 to 14.76, threshold crossed 2nd March. They cant be the reason for the fall from mid January?
However 2nd March was the day the price began to recover. Who knows. That is quite a big holding considering the company is only rated a 'hold'. All these stocks seem to be falling now.
Did you see BEG purchased surveyors/property auction firm Mark Jenkinson for £0.4m cash.
RNS today - Octopus, one of the cornerstone institutions reducing.
Yeah maybe it's the bottom; if so, I missed it. The volume yesterday was good, but I'm cautious as there still seems to be a big background seller. The setup looked more attractive in reward vs risk when sp around the recent low of 67p.
Took my DWF profits yesterday in ISA. Still hold in pension. Hope you caught the bottom here CaneToad. I noticed it, but couldn't buy as already bought at 80p on way down like an amateur. Hope it makes a nice floor here now, I will add once I am in profit. I think Keystones was being pumped somewhere yesterday, perhaps that helped.
I topped up on DWF yesterday, based on the chart. Might be worth a look - heading north today. It was heavily tipped around Christmas time (I added the write up on the chat).
ITs a good chat board, hope you all keep posting, it will keep us entertained as we wait...
Last post from me on here. Good luck all!
Anyway - I still think this is an interesting company. The vast majority of listed law firms make their partners rich - not the investors rich. BUT, I think there's a good trade to be had here at some stage. All it takes is for DB to start buying again and/or for an institution to buy. The sector as a whole is struggling at the moment, but that will eventually change.
@Dartron: "Says the guy quoting Stockopedia and misunderstanding the debt."
Nope. There was no misunderstanding at all. The Net Gearing figure that I quoted (94.3%) is correct. That represents their true liability, including all their leases and is a reliable and consistent indicator across companies. That gearing is high. I went on to explain that the lower figure in their RNS is the pre-IFRS figure.
Sorry you find that embarrassing Pompal. I genuinely thought it was a good comparison. Corner shops are scattered around the country and they have commonly been taken over/converted by the big boys in recent years due to the unviability of one man bands competing with the big boys who can drive their costs down.
It is one of the smallest on AIM by market cap, however the statistic they use is based on revenue for a regional law firm.
As I said, its only a statistic, they must have felt it was noteworthy to mention it, better than being the second largest IMO. People should read the RNS and make their own decisions. Its typical lawyer speak to caveat what largest means! But I really cant see what it matters. Where it sits in the pecking order, and in what context the other larger firms make a difference? I expect the larger ones may cost more to use? May not be in your town etc. Who knows, personally when I hired law firms the size of the company was not a factor, it came down more to personal issues as you are dealing with a person for the most part. Its a small co, and hopefully will grow bigger, hence my investment.
This might be useful to put it all in perspective:
https://twitter.com/TheSecretAcct/status/1613823349204914176?s=20
HD
What’s your beef here and if you think so lowly of this company and aren’t invested, why waste your time posting? I sense a wee bit of bitterness?
I had given you a bit of credit but after that last post, no more. Utterly embarrassing!