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May JP Morgan has re-opened their shorts against XPP after their update.
The drop to now would have been gearing towards the that large sell.
Now that's clear, we should expect an RNS and the BoD to make a statement to as to the state of the company.
Its 85% down from peak (21st Aug 2021), and 69% down from the 22nd Sept 2023.
Everyday it drop off 6 % so how long it stop? It lost over 60% just one RNS . Then what is waiting ahead when they need to pay 40 millions fee ?
Just taken some, bottom looks in as the sell order was around 765
All IMO
Must have taken a massive loss on that one. Has been agreed by major holders so would have made sense for them to load up instead of bailing out at these prices. Must be near the bottom now if no more funds want out.
Well there's the seller out.... massive print
Thats the bottom this morning im in, should be a good day today, hoping for around 1400p very short term
See the RNS
Dividend cancelled, should do well today now back to £18 please
IMO
Ameriprise Financial is a very good indicator that something could be brewing in the background.
These guys have access to data beyond the market, and being US based could indicate that a US company is hawking for a takeover.
And with Odyssean taking a large stake that adds fuel to takeover expectations.
Maybe we could see Comet Technologies USA Inc. and YXLON International (collectively Comet) make an aggressive move to takeover XP Power, removes a rival and increases their market coverage.
Pity Odyssean Investment Trust didn't wait until today to catch the falling knife and gain 9%. As their strategy is to look at takeover assets, perhaps they now see a buyout as closer than ever and may well add again to protect their investment if the fall continues.
I have 50,000 shares following their expertise, so here's hoping. GLA with XPP, personally I could have done without a falling knife!!
With operating profit for the year ended 31 December 2023 now expected to be broadly similar to last year.....
Storm in a teacup, give it time IMO
With JP Morgan closing short position and Odyssean Investment Trust increasing their holding, we have been great indicators by the smart money that this should be bottom.
Also Ameriprise Financial took a 5% position on the 11th August, so would be expecting them to be looking to average down, even up to 7%.
Thirdly, the dividend payment is on the 11th Oct, so would also expect major holders to use the payment to buy more stock at this cheap level.
The current market is insane, any sneeze becomes a hurricane, as such the drop should be seen in context as way overdone, and that there are a lot of factors to indicate a price rally due.
Takes some skill or rather luck to buy at the bottom so am topping up at each drop of 8% in small batches of £5K. New to this Co but it looks well oversold based on last RNS to Me. Maybe better to wait a bit longer but could miss the boat on turnaround. Good luck anyway.
I see it hit a bottom of £8 in Jan 2012 so I guess we'll see . Investing is never dull but can be scary!
842 and then 730, but the support here is theoretically strong, so should reverse heavy if it curls up
IMO
It is so hard to call a bottom in these markets , not having sold at £13 a few days ago I would like to add a few as they look cheap at this price , the problem is will they get cheaper . I think I will wait for a convincing bottom . I'm no chartist but this looks like unknown territory to me , anybody got any ideas?
Ride em cowboy.....
Looks stupid cheap here, should be around £18 or so based on prior PEs
All IMO
Bit of a shake this morning.
However, JP Morgan have now closed their short position.
And Odyssean Investment Trust has increased their holding from 3% to 5%
So looks like the smart money expecting a turn around in share price now.
Multipass, why on earth didn't you sell at £60 if you are so clever?
Odyssean Investment Trust, has increased their holding from 3.04% to 5.321%
A fund or director buy would show some confidence. Probably waiting to see what the funding outcome will be regarding debt payments. Should come to an agreement as orders will increase albeit not until next year according to the RNS.
Just need to hold for a while on my initial buy of £9.17.
I wonder if we will see Ameriprise Financial add another 5% to their current 5% holding to average down the price.
Also the dividend pay is due on the 12 Oct 2023, so wonder if a lot of the larger holders will reinvest now at a cheaper price.
Looks like a good entry point after this crucifixion. First time in this one but looks like the herd have stampeded.