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Agree. A high quality stock that has been harshly marked down despite continuing to deliver quality results.
Now back to over £4 where it should be .
Quite strange price action today. Looks like the algorithms are busy accumulation, but there a large 'o' trade seller with blocks from £40k upwards, looking like they are trying to hold it down. Those look like the only sells bar a few very small o trades. The argos seem to be just buying.
Better than expected - they are cashed up, certainly.
And a welcome market reaction this morning.
And Final Results on 13th December.
https://www.rws.com/about/investors/financial-calendar/
RWS sp near a 6 year low which is odd considering they haven't put a foot wrong since they went public. However, like many other AIM and small-cap stocks on sky-high values that have been very over-valued for a long while, there's now been a harsh re-assesment, and many have been knocked back as well, regardless of performance. The Cannacord downgrade has simply added fuel to a fire of negativity that has undermined the performance of RWS sp that has plunged over 50% since the start of the year.
It’s a useful link for quick access to some general market news. The Alliance News reports in there are often timely, although their Broker updates are very brief so the ShareCast notes are good to add a bit more narrative around them (usual caveats around Brokers sometimes talking their own book).
The Broker Ratings link above normally updates the day after the news is issued.
If you haven’t already done so then worth setting up some watchlists on here for all the shares you have an interest in, that way you can create a dashboard to get a quick view of every red dot alert throughout the day and quick access to all the forums and RNS that you want in one place.
Thanks again Corry, you've taught me something. So simple and yet I had no idea.
It's in the RWS Share News section at the top of this page, red dot with a 1 in it.
Aha! That sounds like it might be the reason, thanks Corry. I can't find the downgrade, do you have a link? Or perhaps it's behind a paywall?
Looks like a reaction to Canaccord Genuity downgrade today - seems to have spooked the market/investors/their customers, heck it's probably even spooked other spooks and it's not even Hallowe'en yet!
Shorting is not an unreasonable suggestion, absent anything else but, as you say, no major shorting activity shown.
Maybe a big seller?
Perhaps something will be revealed in due course.
I don't have a huge position, but I was hopeful here as I believe RWS are a quality company.
Unhooked, have a look at the disclosures that had to be made when an offer was in progress. Nothing big enough for a normal disclosure, so under the radar. When shorters exit you'll often see that they do a big push down first and catch stop losses. It may or may not be that. As I said, just my theory on watching shorted shares over the years.
Hmm, this is a mid cap share with 1000s of A trades every day, designed to pick up the stops from spread betters and drop the price. Not much news from the company doesn't help. Now worth less than the SDL valuation!
I'm holding and like you not investing much. At these levels though I could not resist a small purchase (only incresed by 6% of my holding). From here likely to purchase slowly if it drops further, but I will see how it goes, and the news.
Rylidan, could well be shorters but wouldn't they be entering rather than exiting?
Is RWS a heavily shorted stock? I wasn't aware that it was.
More likely in anticipation of jobs data from US.
Markets are very jittery and worried with the potential for the Russia : Ukraine war to escalate and start chucking around nuclear devices. It is difficult to discover how much more bad news there is to affect markets. At the slightest hint of good news, prices recover. Many smaller value portfolio retail investors have moved their holdings into cash - and very sensible. Others are sweating things out. I fall into the "others" category but am sitting on cash thrown off from dividends for investment at a later date.
Am in no hurry to sell or buy shares in any company at the moment. When I do, it is likely to be one whose bulk of earnings are in USD rather than sterling.
That was just a theory, no concrete knowledge. Unexplained drops like this are often caused by shorters in my experience. I wait for other news!
Ditto, shorters exiting? Perhaps they were under the 0.5% needed to notify? From the disclosures recently there were a couple shorting this.
I second that question, was just about to ask it.
Can anybody throw any light on today's drop. Not seen any news as yet?
Much to like in the half year results. Headlines for me:
"RWS remains in a strong position to make the investments announced in March, fund further acquisitions and maintain a progressive divided policy"
Half year dividend up 13%.
Good board appointment who will bring a depth of experience.
I expect yield of over 3% for this full year.
So what excitement will tomorrow bring?
No takeover and lovely sp to buy into RWS. Sadly i have no spare cash to increase my holding, surely many will jump in at this price !
Feels like this could easily retrace back over a few weeks. Might be a good one to grab now and hold. Had this on my watch list for a while.
Definitely not!! Sp down 18%+ this morning