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No. Just seen more sells...
If so, we should see an increase in SP. Simples.
Boring low quality contribution, take it somewhere else
Even the the dog CMC is showing more life in comparison to this - they are throwing 500k GBP A DAY at this and it still doesnt have a pulse. My view is that there is a HUGE very well informed seller who is dumping as quickly as possible. STRONG SELL, MARK MY WORDS
Oi Oi Savaloy, the VIX has been on a downward trend since March, from a level of around 20 in the first half to a level of around 14 since June, so PLUS would be expected to see softer revenues in the second half on the basis of lower volatility, generally speaking. Apart from this, the UK mid cap market has been soft since June, and also Odey continues to reduce their holding (vs in the past they were always buyers) from 1.78m shares end June to 0.7m shares today. Combined, it is not a great surprise that the share price has been on the soft side, but this overlooks the fundamental qualities of the business and very low valuation. My belief is that as PLUS shows concrete progress in the US, where they hope to grow to $250m in revenues in 2-5 years time, investors will wake up to the consistency and diversity of the company's cash generation and gradually bid up the stock to a more appropriate valuation level. I see no cause for concern here. This level is an opportunity for further accumulation, IMO.
I think it is down to lack of volumes from quiet markets. All asset managers and spread betting companies share prices are depressed of late. Higher interest rates also mean less money for trading and investing.
Looking at the trades I think there is a constant seller who hasn't finished. When this seller is gone the share price will increase imo.
Even if the YOY numbers were disappointing, the shares would still look incredibly cheap. Eventually the buybacks will force the share price higher.
I think this is just uninvestable for many institutions due to perceived regulatory risk and the lack of hedging.
Despite buying 30,000 shares a day themselves this continues to drop. Which means that, despite volatility being Plus's friend (activity is supposed to increase in volatile mkts), the opposite is happening to Plus's share price..........ergo, imo, there's something we're not being told. Either customers are doing really well (bad for Plus, that doesn't hedge this element of course - which is excellent for shareholders when customers lose........not, when they win) or activity in existing mkts (and new mkts) is weak for Plus .......or a combination of these............but either way............the share price is dropping. Now - the last guidance we had was 'we're going to hit the year's forecast'.......but perhaps things have changed then? Thouhts? I said it would hit £13.........and now it feels like it'll go to £12.....
*higher price at open - to clarify I mean higher at open than later in the day, not higher than the previous day's close.
SETS is automatic execution, meaning no Market Maker is needed, but still need a broker or someone with direct market access to put the trade on the book (I’m generalising a bit there to keep it brief).
But payment (settlement) is still T+2 for both sides of the trade, which is standard for most UK market trades (although I believe some brokers offer longer periods for a fee?). An online broker will normally deduct (or sometimes add) a ‘transaction’ from/to your trading credit on the day of the trade though to help you keep track of what you will have available, but the actual cash transaction won’t go through their accounts until T+2 and that’s what the register is based on.
You previously mentioned “divi chasers will put in a sell order for 8am the day following RD” – but it’s normally a sell order on XD day as that’s when the gap down should happen. That sometimes triggers further sells during the day (and subsequent days) so an early sell order may get you a higher price at open and then can sometimes buy back at a lower price later. Doesn’t always work out that way though.
I was under the impression with SETS trading, the trade and payment is at time of transaction, no broker involved unless large sale or buy being executed.
This looks far too cheap, think most institutional investors must be concerned about regulatory issues / perceived risk in business. Eventually the buybacks will make a material difference if share price remains at EV/FCF around these levels.
One that requires the patience to sit and wait.
The record date is based on settlement, which at T+2 means its holding the shares at close on the Wednesday to qualify for the dividend. The share register is updated on settlement, not on purchase. That's standard and required by the stock exchange dividend procedures.
Thursday is ex-dividend day, which means what it says - if you buy on the Thursday, or after, the shares are excluding the upcoming dividend, hence the price drop to reflect that.
The important date is the Record Date (RD). Which is the date at which a SH must be on the Share Register to qualify for divi.
The Record Date is today, 25th Aug, and I believe the time at which the name must appear on the Register is 1700hrs BST. If so, then people selling yesterday or today are not on Register, and no divi. Investors who are divi chasers will put in a sell order for 8am the day following RD. In my experience, MMs drop the price around the divi level, but there have been exceptions. AIMHO
And a smart trader on the ball yesterday morning might have spotted that and sold for a decent price after also collecting their right to the next dividend. Might explain the sell off during the first half hour or so?
Disclosure - I'm only smart in hindsight and was not one taking advantage of that :(
I agree, very peculiar. Price here is about the same as on results announcement date and yet the shares no longer attract the 45-50p dividend coming in November. I'm happy the company are continually buying back shares sub £15. All the more chance that my own holding will revert to £20 when the value here is recognised
It's very odd testpack3. Today was XD so should have been gapped down c.58p/4% on open (all else being equal) but the market pricing seems to have missed it completely? It is marked XD on the stock exchange today and also listed on dividenddata.co.uk but wasn't listed on Alliance News nor IG for today.
I wonder if it may be because it is so soon after the announcement (RNS was just on 14th August) so it's not been picked up somewhere in time. The only other thing I can think of is that there was a separate reason for the market to want to gap the price up a similar amount this morning that negated the expected drop, but other than the nvidia bounce last night I can't see what that may have been?
Record date tomorrow, 25th, so expected sells. The divi is c 4% pre WT, so will the %age sp drop equate to divi.?
But profits from customers losing money were wholly exceptional in h1 2022 at about 172 million dollars! They dropped to a more normal but still high 42 million dollars roughly. In q2 profits held up even with customers making about 8 million dollars. Market conditions have been much more quiet this year so look at cmc for example by comparison.
Did you actually read the half time statement?
Profits were down 43% from the same time last year.
How outstanding is that?
I am happy to collect the dividend every year
Is there any withholding tax on these?
Dividend is also improved including special. $0.7344 gross so roughly 46p after 20% withholding tax.
Strong progress made in accessing the US futures market, representing a multi-year growth opportunity for Plus500