The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Surely we're now at the bottom here. Been trading at this level for a week or 2 now. Feels like it may be intentionally getting kept down at this price?
A lot of UK electricity is produced by gas powered turbines so i would expect energy companies to start lowering their tariffs for both gas & electricity as gas prices briefly turn negative.
https://edition.cnn.com/2022/10/26/energy/europe-natural-gas-prices-plunge/index.html
Great if you’re in-work but how about retired folks drawing down an income from their SIPPs. What about a tax free withdrawal to buy an EV. Could release a few millions from pensioners.
https://www.fleetnews.co.uk/news/latest-fleet-news/electric-fleet-news/2022/10/24/evs-remain-cost-effective-despite-rising-electricity-charges-says-fleet-evolution another promising article
The price is now down to where it was wanted & probably frighted off most PIs except the most hardened (stupid) that have held since IPO or those that have been in & out on the way down. Now below cash value as at 30th June this year. Hopefully, the next update from the BOD will clear the fog. I still think there will be an offer for PODP or a surprise better than expected update. Perhaps another U-turn by the dynamic duo T&K will promote PIVs & company's that are driving the change to EVs.
How things are worded.
From the BBC "The IMF expects only Germany and Italy will see weaker growth next year than the UK among the world's advanced economies."
So the UK will see stronger growth than Germany & Italy next year then. So why not say it like that then instead of continually putting the UK down.
Sold value of over £221,000. Quite worrying to me, 70% down on my own investment
The trade reports later will interesting... I think we have a big seller in our midst sadly. Might top up at 40p FFS !!
panic set in... not catching this falling knife; just sitting it out.
I don't think there's really a valid reason for the price to be below cash position except the autobots & algos driving this down with the market. I see it as a buying opportunity though. There is zero value ascribed to the business. It has recurring revenues of £800,000 which hopefully have increased and a 22% UK market share. Cash burn I think was circa £7m in the last 12 months so they have plenty of fire power to ride out the market calamity. I agree that the lack of news is doing nothing to support investor concerns but I guess it's just a waiting game. I'm still of the opinion that consolidation &/or PE interest is lurking at this price.
There is no reason for today’s big fall. Odd!
and meanwhile the Board of Directors... do nothing to try to reassure investors. Comms is dreadful
Market cap now £79m, £3m lower than cash position as of 30th June.
153,954,931 shares at 55p per share on the Bid gives a market cap of £84,675,212
As of 30th June 2022 closing cash position was £82,086,000
Market therefore values the company at a little over £2m (£2,589,212)
OK so there will be cash burn since June 30th (3 months) but I do feel this has hit the bottom & upside
has to be greater than downside at this price.
An update on progress from the BOD would be welcome.
Can't believe this is trading at near June's cash position so have bought back in today.
what is concerning is the lack of revenue from most of their offerings. DC chargers also a pain for now, but with the cash position projected to not decline drastically over the next 12 months; I've added.
"New car registrations in the UK were up 4.6% year-on-year to 225,269 units in September of 2022, following a 1.2% rise in August. September is typically the second biggest month of the year for the auto sector, and last year, it had its worst performance since 1998. Registrations for battery electric vehicles surged by 16.5% but overall plug-in vehicles fell by 11.5%. On the positive side, plug-in vehicles accounted for more than one in five new cars joining UK roads. Still, overall registrations are 34.4% below pre-pandemic levels as the industry continues to battle supply issues to fulfill a backlog of orders. " Tradingeconomics
Worth nothing that rather than sell up and cash in, the CEO actually acquired more shares at IPO.
Cash at 30 Jun 22 £82m - tempting ?
Nearly at cash position.
i don't believe thats the case in fairness, John. There has been a lot go on in the past year which negatively impacts the company. Mainly, the war and cost of living crisis
No, another 15% down now!
Given the 75% drop in SP since the start of the year shouldn't the shareholders expect some sort of statement by the BoD. I am still of the opinion that the IPO happened when it did as they realised that the company was overvalued, facing a difficult future and it was a chance for them to cash in their chips