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Have to laugh now. Farce day after day.
Yes its making no sense at all ......... Also its no consolation but Just eat is doing exactly the same thing, dropping.
just eat takeaway .com which is on the Dutch exchange.
Holland is in the EU so maybe the gig thing its dragging Roo down with it.
Fortunately for us we are not affected by EU law but can have a knock on affect.. Can hope for an uptick as at this price its getting silly
Dropping like a stone yet we’re entering another horrible phase of the pandemic. Makes no sense at all when more people will be ordering from home.
Need something to stem every red day. Hardly any volume either.
Yes totally oversold and just the general doldrums of the market today. Yep.. low entry roo traders taking profits..
Also US CPI figures due today.
And ...The media trying to frighten people, so it all adds up to Freaky Friday .. Roll on next week
Guessing being sold by someone who bought low last week. Complete joke it’s this low but I guess that’s stocks for you!
All food delivery companies are massively oversold on the back of this old chestnut. There is nothing new here, what's more is people working from home during Xmas and will be ordering lots more food!! Both Just Eat and Deliveroo are quite attractive for even short term hold, easy 20% profit to be had IMO.
On a generally bad day across all the indices. Deliveroo have held up reasonably well, and unaffected by the Eu draft proposals.
Also as a number of people choose to work from home this can only be good for Deliveroo and similar companies.
Good luck all
Gig economy companies operating in the European Union, such as Uber and Deliveroo, must ensure workers get the minimum wage, access to sick pay, holidays and other employment rights under plans for new laws to crack down on fake self-employment.
Publishing long-awaited draft legislation on Thursday, the European Commission said the burden of proof on employment status would shift to companies, rather than the individuals that work for them
Under the directive, workers would also gain rights over algorithms, to stop situations where people are denied jobs, working hours or even fired as a result of machines’ decisions. Instead, workers would have the right to receive explanations for and contest automated decisions, while companies would have to ensure access to a human contact for anything that would have a significant impact on the person.
Companies that did not allow people to work for other firms, or had rules about appearance and how to carry out tasks, could be classed as employers, under the proposals.
The EU proposals will be amended by national ministers and MEPs before they become law.
https://www.theguardian.com/business/2021/dec/09/gig-economy-workers-to-get-employee-rights-under-eu-proposals
Interesting Poker C Ive never thought of data but yes its a salable source . I think Amazon still owns 11.5% of Roo? . I cant believe they would have invested if they had any doubts of how this company is going to grow in the future .. Its like having the ultimate dragons den partner in your corner.. On another subject we uncrossed at 240 tonight that bodes well for tomorrow. GL all
With the potential new restrictions - I’d expect a lot more people ordering in food if working from home. Should see sales rise and in turn get the SP back on track!
ROO pulled out of Spain partly because of new gig employee laws there and partly because they werent anywhere near market leaders there
If the regulations change in other countries then they will expand in terms of what they deliver and do more client partnerships to become more of a Courier service ...
The data they collect on customers is worth a fortune
250 close....technicals looking good...
I agree, this is massively oversold amid needless scaremongering. I hold Deliveroo and Just Eat as both have a massive potential!!
Much better today, support held and a rise up to 2.38 .. I think EU Gig ( old chestnut) stuff is already priced in now .
Also i am hoping / guessing that some of those director sales have now been placed with bigger holders.
Holding now for rise . GL all
in regard to the GIG worker economy and whether they are employees
Its that same old chestnut again
In the grand scheme - not a bad day in the end
Support......... Looks like we may have found it today 233 ish .... well we will actually know if its support if it holds tomorrow. Then the next rise or at the very least some consolidation
Its 2.35 as i type and pushing back up we need a bit of Fomo now... Hopefully we will have a daily hammer candle at the bell
Sorry to say bottom waz finally hit and now the only way is UP!
Think the crazy thing is - weren’t people already sort of expecting this? Bearing in mind it’s gonna take a few years to sort out and even then no guarantee it will all go to plan!
" Following the December 2021 Vesting and the Transaction, Will Shu's holding of Class B Ordinary Shares (each carrying twenty votes) has increased to 100,128,842, compared to 94,551,841 on 30 November 2021; Will Shu holds no Class A Ordinary Shares. "
I think the City market still does not like the fact that Will Shu has too much of the Voting say ..as holder of the Class B shares ..which he has now INCREASED in number
" standard A class will be entitled to one vote per share while the gold-plated B shares carry 20 votes apiece. "
"Will Shu is the only holder of B shares, giving him control over c.57 per cent of the company’s voting rights for the next three years (at the end of that period the stock will automatically convert into A shares)."
Hello Pokerchips I am not sure they have to much of an impact as algos work on both sides of the book the buy and sell .
Plus they keep the instrument liquid but the market is so fickle. I think when the market makers have had their fill they will bring it back up hopefully sooner than later!
I just can’t see it going much lower - the drop is absolutely nuts! Holding firm even at 25 percent down.