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Horis,
You said last week at 1250p it will rise 20% from here ! What happened - it dropped a further 50%....
Spouting ramping rubbish like "should be back to 1500 next week" is purely wishful thinking .
Why did all the smarts sell out last week ?..
Well 3 things:
A) Lots of companies are breaching banking covenants currently with share prices dropping on any bad news, so its become common place, and lenders are being lenient to avoid backlash or investigation for predatory behaviour.
B) XP Power is a well established company, they even announced a new distribution deal with Avnet Abacus last week.
C) Ameriprise Financial and Odyssean Investment Trust have increased their holdings, there would have both done a lot of due diligence before spending the large amounts of money they have.
Everything is relatively fine, just takes a moment for risk cutting and weak hands to clear.
The temporary dividend suspension is good to use the funds for debt repayment and capital.
Should be back to 1500 next week judging by the supply gap and re-rate happening.
It's the debt and possible breach of banking covenants that cause me real concern. The RNS was 'almost' like a business that was going down the tubes. Obviously spooked the market. I know I was shocked. The SP drop didn't help allay my fears.
Ran the math last night, and it appears with that Aberdeen made profit on their 5% sell.
Over the time of holding, including sell some at £50 a share, and the dividends made over the past few years they made a nice profit.
Their selling of 5% into the market gave more free float so new major holders can join the party.
Easily back to 1500 next week.
And mid-term perfect takeover target for 2500
You do know this closed at 2300 and opened up at 1600 on a similar profit level? (yes there's debt etc, but the drop is WAY overdone IMO)
Now that the seller is out, 1500+ is not unreasonable at all
Historically pays around 80p+ of dividend so still a yield of 10% if it starts paying again, plus the 60% or so value drop, easy money
All IMO
Seller looks virtually out as that’s delayed and the price is forming nicely could be up 10-20% tomorrow easy
Getting rid of Abrdn is good, helps to clear the dead wood and free up float for new investors.
Time to load and hold for a great rise back to the 1500 region.
Ramping is for those that have bought dog shares at high prices.
look through my history, I look for value plays and takeover potentials.
Hope He turns out not to be an idiot though.
According to ramper HorisM, "we might get to 1500 by the end of next week." What a complete idiot.
Was hoping for another Holding RNS from Odyssean today, but nothing as of yet.
Bought another 5000 Odyssean this morning at 137.7p - all I need now is XPP and Dialight to retrace somewhat.
10% today is a start with XPP - as mentioned I await news on any takeover.
Okay, I stand corrected about the current dividend payment.
However, I do agree that using that £3.75m to sort out the company is a good move in the current climate.
Now I really do hope that Ameriprise Financial and Odyssean buy up all the free shares and use a combined holding to force the company to be sold for circa £500m.
The dividend payment on 11th of Oct 2023 has been cancelled and saved £3.75M. I think it was a good move to shore up their financial positions.
I think we might get to 1500 by the end of next week.
Sell off was way way overdone.
And the share dividend payment is on the 11th Oct 2023, so would expect the large holders to use the payment to average down and increase holding.
Company still on track to make profit, and a solid business.
I personally would love it for Ameriprise Financial and Odyssean to take a large position and force the company into takeover talks with a rival and sell the company off for circa £500m = £25 a share.
Yes we reached the bottom at 730p and now we will retrace back towards 1000p before the year end.
09-Oct-23 09:37:14 Shares: 492,627 Cost: £4m
09-Oct-23 09:37:07 Shares: 492,627 Cost: £4m
Impressive destruction of share price,:
Down 86% from peak in August 2021
Down 67% from 29th Sept 2023
JP Morgan closed short.
Ameriprise Financial bought 5% in August 2023 (so currently down 64% on their investment)
Odyssean taking bought 2% in 03 October 2023 (so down 27% on that investment), and they hold 5% total.
There was 2 big sells, 1.29m shares and 1.4m shares in the morning, then a big buy of 2.1m shares in the afternoon.
So interesting day of big rotations.
Abrdn Investment Management Ltd. 6.698 % 1,321,741 6.698 %
Today sold volume is more than 1.5m shares, we may see TRI by next Monday or Tuesday then.
Tell that to Odyssean who took 2.5% more at £11-12 or so....think its abdrn exiting, it'll move up when they're done (which they should be looking at the prints today) IMO
PI have no say in this, its the big boys that move it
Sadly mate, the bottom is well below 770p and very little chance of ever reaching 1400p but keep ramping Fundamental.
Sounds about right. Last top up Today as already down 35% on £20K punt. Need to keep some cash in case of fund raise, that`s if PI`s are allowed to particpate ? It was all going too well for Me lately so a dose of s**t was due.
Rights issue /fund raise coming ? PI's are always the last to know.
Crazy what’s been happening. Where’s the bottom?! Here?!
JP Morgan closed their short position on the 3rd Oct.
Looking forward to the RNS to see who sold 2.6m shares today.
Would expect Ameriprise Financial and Odyssean Investment Trust to buy everything up cheap now to average down.
The spread is pretty big on this right now