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A major investment bank cut its view on Block drastically yesterday citing a likely fall in US consumer spending. The company is still valued at over 70 billion dollars so a lot is expected. So I think some of you are being too optimistic. You are ignoring costs and fees and currency too. I will keep what stock I have and watch but I freely admit I had hopes of double this price. IC has got this badly wrong and
The 32 analysts offering 12-month price forecasts for Block Inc have a median target of $300.00, The median estimate represents a +89% increase from the last price of $158.22.
https://money.cnn.com/quote/forecast/forecast.html?symb=SQ
No…because Block could easily fall sharply in price. It is seen by a number of analysts as being overpriced and in too many businesses. So the current price of TSL reflects that. Already hit 58p today and I see further falls simply because unless you are bullish on Block there is nothing here. I presume the company will sell Block in time and return the cash less tax. We all bought because we saw 125 to 150p not 65p per share. There will be some costs involved in selling up so how much will be returned? Maybe not as much as we think….unless Block has a big rally of course
Lates analyst view
Block stock retains significant upside. Indeed, if the analyst's projection is correct, Block stock have a 89 %+ upside on current views
The 32 analysts offering 12-month price forecasts for Block Inc have a median target of $300.00, The median estimate represents a +89% increase from the last price of $158.22.
https://money.cnn.com/quote/forecast/forecast.html?symb=SQ
Hi Surprised,
I'm repeating my post from yesterday. TSL has 106.59m shares in issue. The RNS was to convert to 618750 Block shares. That's 0.0058 Block shares per TSL share.
At current prices that's worth 0.0058 * $158.30 = 91.8c which equates at a $/£ conversion of 1.33 to £0.69pence.
Plus £6.5m cash (6500000/106590000) which is 6.1p a share. So that makes £0.75.... so not sure how you're calculating 80+p a share?
But I agree there's a value gap plus I posted yesterday some analyst commentary which was positive about Block/Square - which makes one think that $158 could be a low point for those shares.
If you believe that Block has a bright future and will return to its recent $260 levels (or beyond) then by my calculations a TSL share will in the future be worth 99p so is a buy based on intrinsic value - and ignoring the negative sentiment towards ST
Key factor - ''Block/Afterpay Shares equate to a value of £78.1m which, together with the £6.5m of cash and other assets () equates to £84.6m'' and 80p+ a share .....current sp 60p equals mcap £62m........that's a value gap on current state of play imo
I would like to say in hindsight I should have sold when it was over 100 just a few wks ago but I was so bullish that we will easily get at least 125p.... Now it just show how stupid/greedy I was
3.5% were owned by Clearpay's management team. How they managed to get this wrong on their RNS is as much a mystery as to how the market cap is now £10m below the value of their Afterpay shares.
not everyone..... and my screen is blue with buys despite the sp drop :-)
Well one thing for sure. Everyone is dumping still :(
Are we being given a few shares in block in addition to keeping our tsl shares? Once this happens will thinksmart still exist because they are still running a business?
the deal as it stands is not as good as we were led to believe in the short term, however, importantly it is not as bad as the current sp suggests .....
but the rns states that 1.65m is only for 6.5% of clearpay and not 10% of clearpay... so are we getting more shares?
therefore the intrisic value re mcap equates to around £85 milion, 80p to 82p approx and not todays £65 million current sp of 61p.....TSL is now trading at a discount as stated below
I agree it’s totally confusing. It’s no good saying how many millions it’s worth. Don’t we need to know exactly how many shares tsl shareholders get in afterpay before the .375 calculation for block. I have it that we get less than .015. I hope I am wrong!! This deal gives me a 48% loss rather than a60% profit based on their annual report. I would say we were mislead for me to suffer such a reversal. Also why would you do a deal in the middle of the block deal with afterpay. It hasn’t even been completed. It must be worst time for us. Also why now change the valuation of clearpay. Who decides to change the rules to the detriment of shareholders. Don’t we need a current valuation chances are it has to be an higher valuation. Wouldn’t you do that if you were selling your business.
basically there is no further reduction on the Block/Afterpay shares issued to TSL ...under the initial agreement there was to be a 3.5% award for a staff on any sale...some investors assumed 3.5% of the shares tobe issued to TSL would be reduced further, this is not the case TSL will hold all the shares and therefore the intrisic value re mcapequates to around £85 milion, 80p to 82p approx and not todays £65 million current sp of 61p.....
Anyone who understands the latest RNS please can you explain it to me? I'm getting confused now.... Thanks in advance
Why did it say in annual report net assets for clearpay was quoted at £1.26 per share. Isn’t it then questionable that they accept such a low offer for our shares . Doesn’t this need to be investigated
your spot on m8
Price fall continues. The price is way below where it was on the 7th December when they issued that strange rns and unless you are bullish on square, nothing much left here as a reason to buy. Any issues with square will be reflected here. Cannot help feeling well let down with this bizarre deal after IC kept ramping. Could have been worse I guess as I cashed in enough here at much higher prices; kept missing the price to buy back in which was lucky but I had a lot of trust in this management which now seems misplaced.
Dret -
I think it somewhat odd that ST does not even currently show as an author at the bottom of the page, on IC.
It is as if he has disappeared but only suggested he is on annual leave. Furthermore, his contributions can only be found up to November 1.
Am I being a conspiracy theorist or does anybody else find it unusual that we can't find any of his recent contributions, or locate him under the author profiles?
Statement from the 7th Dec:
ThinkSmart Limited (AIM: TSL), a specialist digital payments platform
business, notes the volatility in its share price today and confirms that it
knows of no reason for the movement.
This is cr@p and should be looked into. The downward selling from this date is clear indication of insiders selling IMO. The board would have been discussing the valuation well before today's announcement.
May as well sell and buy Block shares - it makes no difference now.
https://twitter.com/surprised_trade/status/1472852818205814784
UBS analyst Rayna Kumar is bullish on SQ stock. "Despite recent share pressure, Block remains our top 2022 pick given its potential to disrupt the Payments space through its transformational acquisition of Afterpay..''
so big buy just came in for around 150K wonder what he/she knows...
Well said shareaction. Further ST who has backed this share is on holiday and won't be commenting until the New Year at the earliest. So much for IC keeping up with events.