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Ex-div (always falls more than divi)
Market fall (FTSE 250 down 1.4%)
AND company specific poor interims (7 Sep)
This will probably not bottom until near 140, the recent rights issue price.
Any idea if todays drop was general market sell off or post ex dividend or something else specific?
Still sinking
I got some at 157.5p then very shortly it dropped
Well, it's technically bottomed. Time will tell if it holds...
Canetoad I bought at 1.77
I thought it had bottomed then, but alas it hadn’t.
Well done to all that bought at £1.60
Fingers crossed for the momentum here. Hoping that was the bottom.
Thank you Cath Cares. Director buys are always welcome and right now they are needed.
I have taken a position of 8000 shares today at 1.5934 having seen the price becoming stable and trading volume reduce around this range. Will add more if it falls. Hopefully have found the bottom at this 5 year low level.
I'm not disagreeing with you. I'm not against the move.
But as investors we should know the details.
Neither Fidelity nor Standard Charterd have invested in the platform. Is TCAP funding this solely? And dates like "second half of year" are too abstract.
Investing ahead of the game is not a bad idea, but I thought the dust had settled when this was at £2. Why buy now when this could still potentially drop further?
@firepisces: re: crypto, you'll notice that Brevan Howard today have even announced that they're increasing their crypto business, because of heavy institutional interest.
https://www.reuters.com/technology/brevan-howard-expands-further-into-crypto-2021-09-13/
This is why I think TCAP's new platform will be such a big thing. The likes of Brevan Howard are going to prefer interacting with TCAP than Binance, with their FCA problems.
Paddyboy
Your wasting your money
Have you worked out how much this has got to go up to make a small profit after youve taken your costs out of the equation
bought 1st tranche yesterday just over 160. only small amount. will add gradually. Difficult to predict where this might go. Clearly in down trend mode but does look ridiculously good value at these levels!
@CaneToad
- the company is profitable (debateable which way you look at it - but £1mn for H1 '21 and 0.1p EPS, compared to H1 '22 = not great!)
- It has been profitable throughout covid (Yes, it would do due to higher volatility and greater access to trading. This has since dropped)
- They have a solid balance sheet (sure, I'll agree)
- They have major new income streams coming online; Liquidnet and a Crypto Platform (possibly overpaid for LiquidNet, Crypto Platform is not released yet and could be delayed. There is no "set in stone" date. Just "Q4". Plus crypto has it's own issues it needs to deal with - but yes having that up and running sooner is better than later)
- It's at the lowest price in 10y (that's not necessarily a good thing)
- There were huge buys yesterday; e.g. multiple £8m buys (probably manipulation, I wouldn't be too excited if I were you)
- Management has bought in at a higher level (perhaps that exposes their lack of judgement and insight)
I hold here. Not so much so yes, so I admit, I'm not too fussed. But like I also said previously, how do you catch a falling knife? I'll wait for the dust to settle. Who knows there might be a correction next week and this is back at £2. But not right now. Goodluck.
@firepisces: I'm happy to hear of the problems that you see.
My point is:
- the company is profitable
- I has been profitable throughout covid
- They have a solid balance sheet
- They have major new income streams coming online; Liquidnet and a Crypto Platform
- It's at the lowest price in 10y
- There were huge buys yesterday; e.g. multiple £8m buys
- Management has bought in at a higher level
What particular concerns do you have? I occasionally see comments here from mysterious people saying things like 'beware of this stock, etc', or 'they understand this stock and it's not a good idea to buy now' but nothing concrete is ever mentioned... I suspect that there is substantial amount of manipulation, e.g. associated with the US hedge fund that 'accidentally' reported a 12% short position....
very poor set of results but this company has been around a long time. will bounce back strongly i think but could be in the doldrums for a little while!
wow, i was in here @£2 & sold for small profit as saw a better opportunity couple months back. This has fallen some. Gonna load up here but looks like the drop could go a bit further. I thing around 160 i'll jump in!
sorry but when a stock falls greater than 50% from more than 12 months ago it's usually due to more reasons than a poorly written/read RNS.
@sudnal: Such is life. Seeing buys of £8m yesterday gives me some confidence though; all of the information regarding the crypto development with Fidelity is already well reported. I agree that the RNS was not overly positive; it definitely put a damper on things. The management seem to have a knack of wording RNS statement to disappoint investors...
CaneToad, Market price is the reality and the market is valuing the company based on the information that is available to them. In the short term market lost confidence in the execution capabilities of the management. Not to say that this will not change in-time. Other companies have typically lost 25-30% with such a trading update, atleast dividend here has helped to reduce that fall by some extent.
Somebody buying £8m chunks @175p is interesting.
This is at distressed levels, even though the company has been profitable throughout covid. Makes no sense.
The crypto platform with Fidelity and Standard Charted launches in Q4 and will transact BTC and ETH for institutions. Keep in mind that market cap of BTC alone is close to a trillion dollars now, with ETH catching up.