Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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It is insanely overvalued. The plug has already been pulled but seeing as though RMV had first mover advantage and sits is at the top of the sink, it isn't feeling the effects of the water rushing down the drain just yet. But as per every major company that heads towards a crash they 'think' won't affect them because they are too big to fail, at first it happens very slowly and then it happens incredibly rapidly.
Be afraid.
Maybe the upbeat post in today's CITY A.M. for Foxton's will boost the Rightmove share price.
FOXTONS shares closed up almost 7% yesterday after it reported a 25% spike in revenue in the third quarter compared to 2021.
The British estate agent's overall intake came in at £43.8m for the three months to September compared to £35.1m last year in the same period. This driven by an increase in it's lettings , sales and financial service sectors, with a significant 44% increase in it's sales. It's lettings were up almost 20% too. Their financial services increased almost 40%.
The company said it was confident for the rest of the year.
Rightmove have got away with it for years, I’m amazed no one has come in and blown them out of the water! They are nothing without the good will of the agents (who mostly hate RM) but are currently forced to list with them as there’s no credible alternative….. yet!
My thoughts are: if mortgage lending dries up surely volume would decline, but then there could be forced sells to counter I guess. If house prices do come down 20%, does that mean rightmove fees come down? Either way, p/e 20+ seems excessive atm
It's a pretty good cash cow and the price of the shares now is the same as it was in April 2020 when the market in general was just off the lows of March but still talking about hundreds of thousands of deaths due to Covid. It's still the first point of call for many looking to buy a house (autotrader equivalent). But yes to think it's valued at 4.3 billion when BT with revenue of over 20 billion is only worth 3 times as much does seem hard to comprehend. The point is whether the housing market collapses or not - not sure it will if unemployment stays low and the country's population moves ever upward but this and housebuilder shares suggest a lot of people think otherwise.
Am I missing something here, the company is worth £4.3b, turns over about £300m and had profit of about £200m p/e of 23 - 84% market share...fees already too high, so how exactly is this going to keep growing when the market for mortgages collapses? Absurdly overvalued.
I've been short here since 1st August. Doing quite nicely :)
https://twitter.com/F15JCM/status/1554054807052292098
Good buying opportunity here.
Get out just before the drop its going to sink before Xmas and I do need the money so ta ta ta
Even with there buying and the jump this morning this is well over priced and I would not be surprized to see a very big drop to £6.00.
It seems there trying to buy your confidence hmmm I think the only thing there doing is preventing the inevitable £6.00 here we come and lower
Dout much will be able to move this current trend is down and £6.00 is where it's going they buy all the shares they want either way it will be going down.
Maybe some news coming tomorrow and this may take it off the roof from what Ive heard so maybe worth putting a buy in sooner rather than later.
Not been announced yet so would like to take a gamble until it's official been announced.
Morning all I agree very long way off yet would be risky to even consider buying at this price.
I agree I'll wait until it gets below £6.00 BEFORE i even consider putting money been on a continuous uptrend for a long time.
Most would assume it would be better to accumulate more as you get to the bottom and I think we are along way off.
Thats Very valid point and I thought they were the clever ones clearly someone in there higher management needs to be having a word.
Morning all yea I concur with Christmas only a fool would be buying now and IMO right move seem to be the fools business boom is shutting down towards the end of the year so why they don’t wait I have idea.
I had a little morning chuckle at that. With Christmas just round the corner that will be another reason to get out but there overpriced in my opinion would see fair value around £4.50 with to £5.50 away to go yet but I'll be interested around these levels
I'm glad I got out before xmas otherwise I'd be having baked beans and toast.
I thought they were abit strong today even though there's plenty yet to fall oh well I guess that they shod of waited.
I’ve only noticed today they’ve been buying there own share trying to keep up the trend at this price there’s no reason as this be sinking I think they delayed it dropping today but what does that tell you people are not interested in these and there overpriced and over bought.
They may know the property market but nothing about share.
Well done seems to be a false pump by the looks of it have a good evening all I’m signing out
I agree with the price £6.00 and I've just managed to get out on the bump up, well good look to the rest of the long term holders.
It appears theres a big drop coming by the looks of things.
We have indeed well knew it was coming alot of people won't have come to terms yet with there loss shame but what did any exspect