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Normally I’d be tempted to bail after waiting so long, but the last RNS made very pleasant reading and if things go to plan and they remain focused we could be looking at a very good investment here
Yes although a lot of stale bulls in here. I bought at 23p and then twice at around 5.3p so coming up to break even now. Do I sell out or hold for another year??
Give it time, as investors slowly twig what potential is here and that the past problems, including sad death of CEO D Massie, are sorted out. It’s all about the online schools growing in UK now. Can they get it right? If so, it looks good.
surprised there isn't more interest in WEY considering what it did last time
Could be a 50% up day as the correction continues
Not much and this moves fast hey. Wait until the herd arrives.
WH Ireland’s summary of 20th February said:
“Wey Education plc is a UK-based educational group delivering online education services in the UK and around the world. The tragic loss of its Executive Chairman towards the end of last year has necessitated a refocusing of Wey’s strategy, the details of which were announced in early February. Under the Chairmanship of Barrie Whipp, and led by CEO Jacqueline Daniell, the Group is now set to be more focused and streamlined around its existing businesses of InterHigh and Academy21. Coupled with a revised sales and marketing campaign, Wey is seeking to capitalise on the growing demand for online-based education, alongside targeted overseas opportunities to be achieved from the UK. Although there is a material rebasing of our estimates, we believe near-term forecast risk significantly reduces with potential, certainly in 2020E, towards the upside.
Our DCF valuation conservatively sees fair value at 35p.“
50% improvement. Good results, and a more focused outlook and cash generative. SP was up to 40p 18 months ago. This narrow focus was how the company started off before it drifted to early in it's development into overseas markets.
I still believe this a good business model. There is a never ending supply of children.
It’s a genuine correction on strong fundamentals.
7.8 now gone. Level 2 looking busy.
I’ve actually got some at that price. It’s unfortunate that the company had to change direction due in many way to the sad passing but I’m confident of doing very well here over the short, middle and long term
Flying now. Could easily do 100% today
Yes was 18p last year!
Very pleasing results today. More focused and well placed to move forward. Share price should start to pick up now
Agreed cottoner, once Cantors came off the ask this morning at 5.25p, the hare was running.
Trades that appeared yesterday (Wed) were obviously the last of the seller.
Obviously a few were waiting for this signal before buying in or averaging down.
Yep that about sums it up Mattewc…. people buy into anything on a ramp and, although the company has cash in th ebank we do not know how much of it will be used up closing down overseas operations..The last trading update warned of a bigger losses this year because of the change of strategy and since then we have had nothing at all from the BOD, save to say their growth plans through acquisition are not going ahead... suffice to say I didn't buy any today and doubt I will again until there is a change to the BOD with some significant skin on the game. I don't know who the seller has been for the past few weeks but I do not that the late Mr Massie had 15m shares so I just hope they are in trust. GLA
Why all this buying?. It cant be a research note from WH Ireland that is almost 2 months old?
Courtesy of Bones on A-D-V-F-N
For information (updated in header), WH Ireland’s house broker note of 20th February 2019 (following the first trading statement after death of CEO David Massie) said:
“Wey Education plc is a UK-based educational group delivering online education services in the UK and around the world. The tragic loss of its Executive Chairman towards the end of last year has necessitated a refocusing of Wey’s strategy, the details of which were announced in early February. Under the Chairmanship of Barrie Whipp, and led by CEO Jacqueline Daniell, the Group is now set to be more focused and streamlined around its existing businesses of InterHigh and Academy21. Coupled with a revised sales and marketing campaign, Wey is seeking to capitalise on the growing demand for online-based education, alongside targeted overseas opportunities to be achieved from the UK. Although there is a material rebasing of our estimates, we believe near-term forecast risk significantly reduces with potential, certainly in 2020E, towards the upside. Our DCF valuation conservatively sees fair value at 35p.“
Got plenty of cash and this fallen star may well return to growth now that it is concentrating on core activities
Overhang may be gone - now difficult to buy
The recent focus on the 2 core businesses is a very good move, they are where the historical growth has come from. The 'distraction' of China and Nigeria had not produced results and so was not worth following further.
raising the bid above the last price paid is a good sign this morning. Patience with this one will pay off I think the underlying business model is great :)
Nice rise ;)
That is complete BS and I don’t think for one minute you have opened a short, perhaps you meant a spread bet .... For the record the company fundamentals are good and anyone who understood accounts would know that .. I wrote an email setting out my frustrations to the company and, in fairness the chairman himself responded within hours ... I think it is fair to say that I have urged the company to provide interviews/ communication to the market to explain why the focus has been taken from overseas and I think they will ... I haven’t sold nor will I but I was disappointed to say the least ...