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FUND REVIEW
The fund underperformed the MSCI All Country World Index ex Australia Hedged to AUD Net for the one-month period ended October 31, 2021. THG was the largest relative detractor in the portfolio for the period. THG owns The Hut Group, which operates as a multi-website online retailer that provides health, beauty, fashion, lifestyle, and marketplace services. Shares traded lower over the month despite solid earnings due to an analyst short report which drove investors to be concerned that results would be worse than expected. We think THG is a company that is just beginning to develop a differentiated enterprise e-commerce platform to help brands and retailers build a global online direct-to-consumer footprint.
https://www.troweprice.com/literature/public/country/au/language/en/literature-type/portfolio-update/sub-type/portfolio-update?productCode=AHGE
Another great spot Trojan / thanks for sharing
This supports the send feedback from Jupiter and black rock (who remained confident in their remaining cir a 5% position) - combined with sofina who increased (and who have a board member so have more privileged information to go off) it should give all PI great confidence.
Great spot TrojanH
I particularly like :
We think THG is a company that is just beginning to develop a differentiated enterprise e-commerce platform to help brands and retailers build a global online direct-to-consumer footprint.
https://www.troweprice.com/literature/public/country/au/language/en/literature-type/portfolio-update/sub-type/portfolio-update?productCode=AHGE
seems to step down in big steps... one second chugging along at 184.... 2 seconds later... 180...... frustrating .....B
yup. disappointing start to the day. was hoping for yesterday's rise to continue.
1m+ shares traded in first hour !!!
Only 3.8m traded full day yesterday.
Gonna be a busy day !!!
The whole market is trading with an awful lot of algo trades and few "human" interventions ..whilst there is so much uncertainty and lack of direction
It is impossible to judge what some ALGOs will throw out in any half hour and impossible to try and juggle a dozen different variables and try in a human manner to try and second guess what may or may not happen
This share has basically gone nowhere for 2 weeks and is "probably" merely waiting an update ...to move things one way or the other
IMO
Agree about high volume. I think this is a good sign for us.
That drop from 184 to 180 was based on only 75k of shares sold off in quick succession. Its now being bought back in high volume. Already 350k shares just traded at this new price support level pushing the price up.
impressive. leading edge tech. thanks for posting indy.
Thanks Indy
Vyne are pretty new ..still getting seeding money.....interesting start up
https://techcrunch.com/2021/09/23/vyne-raises-15-5m-seed-round-to-grow-its-merchant-focused-open-banking-solutions
Wonder if we invested - tends to be our model, pre buyout further down road!
The further this falls the more I think the UK has lost its place in the global financial markets.
The pandemic has reduced footfall in the city, Brexit has left us without an agreement with regards to financial products, our leading tech and growth companies are being snapped up by US funds.
THG and similar should be treasured for their employment offering and ‘levelling up’ possibilities but instead the UK media keeps bashing them down - why? They say governance but those who tell us this have questionable governance themselves, look at the recent Numis issue, look at our current government. How does this all help any of us and our economy.
It’s very disappointing to see our market being left behind.
I agree Pokerchips it will take some positive news from THG which ‘should’ move it through levels I say ‘should’ as market often seems to do the opposite as expected. Frustrating but it’s stuck in this range until we hear something.
Some US etailers not looking too bad in pre-market trading
AMZN +0.18%
BABA +1.07%
JD +1.85%
EBAY +0.52%
ETSY -0.02%
" Frustrating but it’s stuck in this range until we hear something."
In the days before Internet forums and social media and 24 hour, minute by minute news ..... you would hear something only every few weeks or quarter .....and you wouldn't think too much of it ..
These days the aim is to have you at a fun ride where your nerve is tested to the full ... :-)
Personally I just don't see how this can be about covid/Omicron when you look at JET -6%, OCDO -3.28%, ROO -8.2%, BOO -2.76%, when etail normally does well on covid restrictions.
If Omicron displaces Delta and only gives mild symptoms then the pandemic could end early. That wouldn't be a good thing for etailers.
Mixed data currently, soon all will be clear. IMO increasing cash on sidelines currently is a good move. Opportunities ahead..
Non-farm payroll tomorrow. Normally volatile/negative days prior.
Last month though, THG closed up +3.87% on the Non-Farm Payroll Friday vs the Thursday, closing at 203.8p. But the day's high was 215.6p.
Valueplay
If it rains and the temperature gets cold ..that could be good for -etailers
If the traffic gets busy heading into town then that could be good for etailers
If an etailer has it in stock ..could be better than heading down town only to find there are none left
If there are better things to watch on Streaming channels than hike down to the shops....could be good for etailers
If people are worried now ..could be buying online and getting things done
could/might/maybe/possibly/
*If Omicron displaces Delta and only gives mild symptoms then the pandemic could end early. That wouldn't be a good thing for etailers.*
It seems to go down when noise about the virus is bad and down when noise about the virus is good. It just seems to go down, with the odd bit of respite - bit like BOO.
Bad sentiment and uncertainty surround both companies - near-term and that seems to be what the current SP is reflecting.
Yes knowbodyyouknow. There is bad sentiment around THG. That lack of transparency of the business/ big unknowns I believe is proving too risky for many currently as they cash in stocks/ seek out safer stock plays in the current extremely volatile overall market
As I've said many times before this sentiment could all change in an instant. I've been invested in THG before as I think that reversal is possible. Management are aware of the issues and would know how to resolve/combat them.
Currently it's the sidelines for me re this stock.
The last 2 weeks sub £1.95 has left me with so many questions on this SP.
Everyone is expecting a positive trading update that will "smash the numbers" as MM told us at GQ yet the SP is bobbing along the bottom.
Q3 trading update confirmed that full year revenues will be in line with guidance, +35% - +40%, yet the SP is still bobbing along the bottom.
Now if the expectation of bumper sales is already known, and hitting full year targets is expected, this would already be factored into the current SP.
The governance issue for me is a red herring as it is unchanged from IPO, and it wasn't an issue that prevented the SP shooting to £8.
So, let's say Monday we get a glowing trading update, best ever, well what does that put on the SP ? 10p/12p
Last years trading update jumped the SP 8% but closed the day only 3% up and by Fri was below the previous Fri close. And that was when the company was still very much a market darling.
So much as I hope I'm wrong, I can't see our salvation coming from the trading update.
So then it down to the Q4/Full Year figures and whether the market is prepared to believe/accept the EBITDA figures produced and whether they detect cash-burn.
I'm in THG for the long haul as I believe at £2ish there are very few opportunities to match it, but like I said at the beginning, so many questions.
“You make most of your money in a bear market, you just don’t realize it at the time.”
Shelby Cullom Davis
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“The intelligent investor is a realist who sells to optimists and buys from pessimists.”
Benjamin Graham
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“Invest for the long haul. Don’t get too greedy and don’t get too scared.”
Shelby M.C. Davis
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“The investor’s chief problem—and his worst enemy—is likely to be himself. In the end, how your investments behave is much less important than how you behave.”
Benjamin Graham
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“I make no attempt to forecast the market—my efforts are devoted to finding undervalued securities.”
Warren Buffett