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Looks like a mexican stand off, buyer holding off and seller standing firm at £1.50.
Wish somebody would just file the TR1's and let the market know what's happening.
COME ON BIG DEBZ put your hand in your pocket!
Just before the bell
YAAWWWWNN
Do we have lift off? #lamborghinis
Looks like the uyer has either had enough or is thinking, this guy is desperate if I stop buying, maybe I can pick these up lower.
Shame as it felt like we were going to break £1.60 but we need something to give the SP some impetus.
Come on Debbie, put your bloody hand in your pocket. Or lets get a sharebuyback going, even just a few million.
This share Is going know where right now. Firmly anchored in the 150s....
Morning Shear Class.
The Buyer and seller will know exactly who each other are from experience. The Sales Traders will be negotiating back and forth trying to achieve the best outcome for their clients.
The only time that might not be the case, is where a corporate raid of sorts ( which you don't see so much these days, as takeover by scheme of arrangement is far more cost effective) is taking place.
Or, alternatively, if buyer and seller are conducting business via Dark Pool venues. But still, if you were dealing in huge size, there's only so many places ( Institutions) that could supply the size.
Just for the record I'm not suggesting corporate activity, just making a point.
I'm sure the Tr1s will be incoming and all will be revealed.
This explains the way trades are published.
https://www.proactiveinvestors.co.uk/companies/news/81/idiots-guide-to-the-london-stock-exchanges-setsmm-0379.html
interesting, and eprhaps the buyer has always been there, realised the seller was desperate so let them drive it down within reason, and now they've reached a sort of median point.
given the amout of volume there will have to be some tr1s soon, i just hope debbie big *******s is buying.
Like I say, time and time again its normally best to wait for the 3rd profit warning before you buy in.
The buyer likely doesn't know who the seller is / how many shares they have & yes they'll be dealing via one of the market makers (looks like Berenberg as they are the only MM at 160p). The seller may want to see how desperate the buyer is & if they are too keen they will raise their price? It's cat and mouse, but good progress is being made on a daily basis.
Why not just sell in one chunk?
Or I guess they don't really know about each other, one MM has a load to sell, and one has a load to buy, they keep matching orders and filling some PI's at the same time?
The pairs of trades going through are exchanges between a buyer & seller - so one trade is a buy & one is a sell.
I've just been through the trades and since the plunge on the 24th there have been a shade over 11m of these exchanges, so 5.5m buys and 5.5m sells. 1m of these have come this morning.
Any buying II is going to give the price a few days to settle before stepping in, however they seem to be very happy to now pick up chunks at £1.60.
It's a fairly straightforward picture from here, once the seller is exhausted the fairly incessant PI buying will result in the price recovering back to sensible levels between £2-2.50 in my view.
Nice to see some deep pockets entering. Hopefully whoever is selling is nearly done then we cam return to normality.
There must be a big sell order in the background and somebody is just umping out the buys and swallowing it up. Expect to see £500k+, maybe £1million+ sells appearing later delayed.
As lkong as the buying keeps up, ocne that sell order goes his is going to pop
"Certain titles not meeting internal expectations"
Titles not meeting internal expectations is normal in the indie game industry, they published titles that have exceeded expectations earlier this year too. The gaming industry boom from the lockdowns have come down hard this year and pretty much all video game companies are re-rating their expectations on sales.
"Too slow to address project overspend. Delays with cost cutting initiatives at the TM17 Games label"
Correct and thats exactly the reason the share got de-rated after the last RNS, the costs have been cut now and the impairments shouldn't continue for long.
"A number of titles launched and under development are under review. Impairments expected in consequence."
Titles launched are under review? Such as? As for under-development, good, most indie companies like TBLD, DEVO, FDEV are reviewing their catalogue and cutting back on titles they believe won't sell well, its under their cost management initiatives (I think with a quick google you will find mostly all game developers and publishers are cutting jobs and putting titles under review). But the thing with Team17, they are a great publisher, they have a track record of publishing at least one mass-selling indie title each year, they mostly backed out of game development so they don't have the costs and losses involved of developing flops like FDEV. On top of that, they are actually profitable and will stay profitable. Once the games industry picks up again, TM17 will be one of the winners to pick.
Thanks for regurgitating the RNS.
I think you fail to mention other things:
£50m cash
many facets of business doing well not even linked to launches and ones in dec, such as story toys
Great IP for games
Cash generative in what's been a terrible market
II's adding to holdings
All shareholders in above current market price
It's easy to flag one RNS where they state expectations are moderately above what was projected, but with impairments as a negative. But the reality is it's making money even with all this.
Certain titles not meeting internal expectations
Too slow to address project overspend
Delays with cost cutting initiatives at the TM17 Games label
A number of titles launched and under development are under review
Impairments expected in consequence.
The share price is where it is for very good reason and profit warnings normally come in three.
Be careful with your money and there are plenty better shares out there at the moment.
Certain titles not meeting internal expectations
Too slow to address project overspend
Delays with cost cutting initiatives at the TM17 Games label
A number of titles launched and under development are under review
Impairments expected in consequence.
The share price is where it is for very good reason and profit warnings normally come in three.
Be careful with your money and there are plenty better shares out there at the moment.
Their boots, must feel like Christmas
We got your message haha
Yes this has been punished like the other games companies but as been stated we are in a much different position with good revenues and profit . They have had to have a re-organisation with staff numbers but this often happens after acquisitions. Like to think the heavyweight management team in place and confident director buying stands the share in a good place going forward .
Sorry for same post multiple times!! The server was having issues...
Yes this has been punished like the other games companies but as been stated we are in a much different position with good revenues and profit . They have had to have a re-organisation with staff numbers but this often happens after acquisitions. Like to think the heavyweight management team in place and confident director buying stands the share in a good place going forward .
Yes this has been punished like the other games companies but as been stated we are in a much different position with good revenues and profit . They have had to have a re-organisation with staff numbers but this often happens after acquisitions. Like to think the heavyweight management team in place and confident director buying stands the share in a good place going forward .