The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
@Bighand Do you work for the company or know people that do? If true, hopefully the employees can find new roles asap.
In addition to ending the engagement with the consultants - saving circa £1m+. Last week it was announced that there will be 15% of staff cut from head office. Saving over £1m-£1.5m. Could be £3m saved. Decluttr is also to be shut down to focus on UK.
Smart decisions to get the company back on track IMO.
I had a call from the Takeover Panel. If any or the management (who already have 1%) have bought or sold anything we WOULD know about it
Some strong buys today. I imagine that we may see that the shares came from a Schroeders.
So apart from the 1.5% declared by Damian Hanson, vast majority of shares disposed of my Cannacord appear not to be with any one party.
Still a mystery…. A lot of shares have changed hands
Are management allowed to buy shares during the buyout period ?
I know a lot of you guys think this is cheap and I have to agree, seems underpriced for the position they have.
Hope to see management step back into the market and show some confidence in the business(if they can) .They’ll have a much better understanding of the underlying value of the business than us.
Talking of Shore, I see that they bought shares at 10p on Friday
Josey - I think you are a bit dismissive. I think wat MMAG try and do here is more than just see what competitors are pricing is.
Interesting but a bit smoke and mirrors. Pricing intelligence comes from scraping competitor offerings and maintaining the intelligence file that generates your pricing structures. At the end of the day sellmymobile has APIs into most trade-in houses so I'm sure access to that data set is available for a fee. Pricing maintenance is the hardest part of the whole game and you're always dealing with a deteriorating asset value.
Found this - interesting read
https://www.bloomreach.com/en/case-studies/how-music-magpie-prepares-for-a-cookieless-future-with-bloomreach-engagement
Oh apologies, I thought shore capital was an investment company but they are also a market maker. That makes alot more sense now. Thankyou.
TYLO - It is there job as market maker.
When you want to sell some shares - THEY BUY
When you want to buy some shares - THEY SELL
The are not doing much volume on either
On the RNS why does it say shore both bought and sold shares. It’s said this on multiple of them. Why are they both buying and selling shares. Seems very strange. Market manipulation?
My concern is there are plans afoot for MBO for a low as value as possible flushing out private and instituonal investors. Would like my average to be lower, final chance next week. Should start getting fruity.
Agree, the Cannacord move was baffling and I still don't know where thos shares have gone....
I actually reached out to the Takeover Panel to get some guidance on:
(1) The conditions of staying in 'offer period'
(2) Whilst in offer period, can they confirm if concessions are made and in what circumstances where a party may not declare a 1% holding.
Their response suggested they are happy to help answer and wanted my phone number and would pass on to a case officer
PE. If there's a move in motion to de-list then there is simply a play to ensure/predict that 75% of the votes can be secured on the proposal. Shareholders at 10p help the cause.
The bit I can't work out is Cannacord ... they've provided liquidity but if their exit was 11p how do they get back in without loss (if at all). Still makes no sense.
Josey - why and who would be buying and selling to do something to their average?
Please explain the significance of this and who would be doing that?
Well you can still buy 50k shares on instant at just shy of 10p. I imagine you’d get 100k filled on a limit order. Certainly a decent sized pool somewhere. In theory the liquidity Cannacord put in would have an effect anyway and using th 15p pre BT type base, you’d think 12/13p would be more appropriate.
The actual spread is minimal right now so it’s more likely someone is buying and selling to maintain status quo into new set of averages. Like I said, once that 40p year high disappears and trailing averages lower, we might hear something. Very much doubt we will see 2023 result before then either. (Unless date has already been published).
Not in my opinion...
1) Because they were sold for 11p - so who would be flogging them for sub 11p
2) They were not bought by Shore Capital ; and I do not see why any MM would want to take on that volume of shares without a buyer lined up
3) Over 4m shares traded the day after Cannacord sold their last 3m
4) Schroder have disposed of a few after Cannacord
Is the liquidity coming from the 3m Canaccord offloaded in a oner the other week, is that possible?
I could see this moving up to 20p again organically. Market cap is just too lower.
Shares moved so far this week;
13k sold
683k bought
Https://channelx.world/2024/02/ebays-mark-monte-colombo-on-the-refurbished-tech-opportunity/
Nice video of one of eBay management talking about the refurbished tech sector and even references musicmagpie during the discussion. This sector is very on trend and as peoples pockets get tighter they become more savvy and look for opportunities to save themselves money. Tech is only becoming a greater part of our lives, I’ll reference the iPad kids, you go to restaurants and kids are glued to the screens, but things like phones have becoming an extension of ourselves. People talking about crypto, AI, google, amazon, Uber etc but we need phones, iPad etc to actually use these platforms. Pick and shovels is how I like to think about it.
Logo
Best Refurbished Device Supplier
Judges' choice
The smart and easy way to be sustainable, the judges once again found musicMagpie the leading reseller in the industry, making it simple to buy and sell used technology, and get a good price.
Nice find red0liv3
Scroll down here: https://www.uswitch.com/telecoms-awards/
On a separate note Music Magpie won Best Refurbished Device Seller in the Uswitch Telecoms Awards 2024! Judges recognised musicMagpie as the top choice for anyone seeking a convenient and sustainable way to buy and sell used technology.