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Agreed. Been looking at this share for a while and when I saw the drop this morning an entry under 92p seemed too good an opportunity to miss. Checked first what the reason was to make sure it wasn't something to put me off but given their ages it seems a reasonable thing for them to do. Sure the timing does seem a little disconcerting as it may suggest they feel the sp won't climb much closer to pre-Covid levels but then again it is about 3x what is was last year so cashing in now doesn't seem so strange.
So seems a typical overreaction that the market tends to have to 'bad news' which then often reverses quickly. Just hope it is another one of those and that I really have got myself a bargain?!
Topped up by 10K at 92.65. Hope it it will be over 95p by close. We'll see. I can't see any rational reason for it to go under 90p, but markets are not rational.
Just jumped in at 92
Had no problem buying.
GLA
No problem with the business. Will rebound during the day.
Added at 92p -
gla dyor etc
Having read the RNS, my humble opinion. 2.1% of the company has been offloaded onto the Stock Exchange so a drop was inevitable. The fundamentals of the company have not really changed. I suspect a strong recovery will follow throughout the day once the usual knee jerk reaction has filtered out and a sober assessment of where we are kicks in.
They plan to reduce from 27% to 5% over the next 10 years. No real issue, it is just a way of re balancing their investments. The money is needed elsewhere and the fact they are reducing in no way reflects any issue with the business. A good buying opportunity once the dust settles.
Gross over reaction atm! Sold 2% to have some cash in retirement..no big deal! Buy opportunity imo.
I think they still own 25%.
Guess it just doesnt look like the owners have confidence in their business if they are selling off large chunks, whether they were picked up or not.
Just re-joined SGC with 10,000 at 93.5. Hope I didn't catch a falling knife!
Not what I wanted to wake up to.
Institutional shareholders have taken up there shares can’t be that bad, not sure why the big drop? Or am I missing something else
Must admit I didn't see that coming but agree a good time to top up - will wait till the dust settles and add - overall narrative of UK recovery has not changed so will continue to add
dyor etc
Ouch, been hit hard today due to the owner sell off. Great chance to top up at a low price as will more than likely rise again throughout the year with things being lifted.
Yeah I topped up at 101.16 this morning (including stamp etc). The easy money has been made IMO but I do believe there will be a rerating above 110p fairly soon.
It has been moving in the 100-110 range. Anything close to 100 is a good entry point. Among the least risky recovery stocks. Should be 110 in a few days I hope. DYOR and GLA.
Excellent retail sales figures today - smashed all analysts estimates - all those shoppers going into the cities/towns, a lot of them need the buses to get there - onwards and upwards for the mighty SGC - Looking for my 120p target pdq
gla and as always dyor
Bought another 5K at 101.14. I still think it is cheap with potential to reach 110-120 range fairly quickly. Fingers crossed. GLA.
I may be an idiot but at least I don't post a load of bull sh#t on this BB and expect everyone to follow it.
Panic setting in over new variants ?
Here in South East London there is no panic at all, in fact quite the opposite. There were queues going round the building at Primark's, the pubs and shops all very busy, obviously only the outside sitting at pubs. Bexleyheath, Crayford and Dartford was ramo with people walking about shopping. The government needs to up the loadings on Buses from 30 passengers as I keep having to drive past passengers who want to get to work, its not fair on them.
Just means its time for a brucey bargain.
That's good to know. This bodes well for my holdings in both MARS & FUL.
Plenty of people out and about spending their money.
And if they're getting out and about to those venues on a stagecoach bus, I'll be a very happy chap.
Lots of people out and about again buses are very busy plenty of people out shopping and spending money.
Looking at the trades over the last few hours the volume is very low with only one institutional buy at 10k that I can see - I think MM'S are marking this lower as they are short on stock, hoping to force pi's to sell out, or maybe marking down due to the London SA virus - I see this as a temporary pull back no more no less - I think most UK citizens will be on staycation this year rather than risk going abroad - all good news for SGC
GLA AND AS ALWAYS DYOR