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Arthur_Dent - BAML are Bank of America Corp. And yes, they sold a lot of shares
Another forum states BAML sold 5%. Dont know who they are or if this is true.
Agree - no change in fundamentals here and for this reason, I doubled my holding yesterday.
Judging by the PA, I would speculate that maybe a large fund needed to liquidate their holdings for some reason...Very odd, but not unusual for this share- it has happened a handful of times in the past year or so and each time we have recovered fairly quickly, so hopefully no different this time.
I think you are right UncleJohn,
There doesn't seem to be any fundamental change here, the company and competition are the same as last week and even last year. Also a sector that is expanding.
It's always easier to view shares when you don't own them, so I know I am biased towards the up side as otherwise I'd have made a mistake buying in but I don't see any big dangers currently, still a leader in an expanding industry.
I 'think' the reason tech is selling off is the fear of inflation.
Tech companies are priced on future earning and inflation eats away at those future earnings worrying people.
I am not sure we will see very high inflation in UK because technology itself in deflationary (how much was a mobile or computer 20 years ago?) so added some more today. There's no knowing where the sell off may end but I we are in good value territory here assuming you're timeframe is a reasonable length.
whilst I am not a shareholder here, you need to look at the bigger picture. It is the Nasdaq selloff over the last 2 days that is having a direct ripple effect here. All my techrelated shares are down . Hope this helps allay fears.
I agree Irene - Microsoft acquired market ready RPA and they have means to reach every office and home via Windows 10.This is not 1st time Microsoft ****ed up other companies. Also recent sell-off from one of the directors almost all his holdings suggests he knew something about it.
Msoft has been out since mid last year so seems unlikely it's the cause of yesterday's drop.
I think it's more likely the US tech selloff being replicated here.
RPA is expected to grow very quickly and we are one of the global leaders so are well placed.
Also there was something in the budget about firms reinvesting able to cut their tax so I don't know if there was something else in the budget I missed but with current assets larger than total debt to me this seems well placed to be a success.
DYOR
Microsoft recently launched their RPA software Power Automate which they are offering free with Windows10 and I think that is the cause of concern for the fall of price and if this works for Microsoft which usually does then blue prism could be in deep trouble.
it's a big drop and i don't like when there is no news for it.
My Avast shares dropped 3% so it may just be an anti-tech day and with the previous drop maybe people have paper hands.
I don't see there being anything too dangerous here, they have about 140m debt and the same in cash so no big risk.
Unless it jumps big first thing tomorrow I'll buy some more as by then i'd expect any bad news to be out
I don’t think the corp tax rise is kicking in until April 2023 so would it really affect the SP this much today? It’s certainly a big drop with no definitive reason I know of. The majority of my other holdings went up today.
Corporation tax hike i think, but guessing.
Can't see anything in the news other than Monmouth Bld Soc are using the tech (Good news) - Something in the budget at a guess?
Does anyone know why this is sliding? ... actually its now in free fall!!!