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Will be out in a few weeks time and by all accounts Foxtons are still smashing office records left right and centre.

I've been saying since the beginning of the year that Foxtons will report it's best ever figures since it's full year of trading after floatation some ten years ago now and I still stand by my prediction.

Yes, we'll get the usual nonsense from the management in the statement playing down the fortunes of the company for the umpteenth time, increase in working capital costs, longer billing cycles, tenancy rollovers etc. all the caveats you can think of despite the company breaking records all over the place.

Here's yet another 'record breaking' post from one of the Foxton's offices :-

Yep, agreed.

I added a few more to the pile yesterday on that dip, very much doubt if the stock will be manipulated back down to those low levels around the £5.00 mark as the whole world and his wife now knows that Rightmove is in play !!

#Long&strong !

It's the US banks and hedge funds that control share prices in this day and age and not the directors of companies.

You just have to look at all the money Rightmove have wasted in trying to kick start their share price despite making huge profits over the last few years.

I mentioned that I also hold Foxtons shares and there are so many similarities going on over there as well, the only difference is that the management at Foxtons gave up on the share buybacks as it did nothing to the share price again despite making increased profits and the company being on course to having its best ever year since it floated some ten years ago now.

Price discovery in all quality UK companies has been thrown under the bus courtesy of US banks and hedge funds whom are now picking up companies at bargain basement levels as I mentioned on here before.

Well, looks to me like the touchpaper has been lit !!

Those US hedge funds and private equity boys must be having a great laugh, expect them now to handsomely trump those REA bids with their free printed US dollars !!

Classic market maker action this week and with the added assistance of the Rightmove board:-

Monday 07:00am - REA announce improved offer for Rightmove which us quickly dismissed by the board before the market opens.

2.6m shares traded.

Friday 09:20am - REA announce improved offer for Rightmove, its fourth offer.

Some 4 hours later the Rightmove board re-iterate that they are considering the new improved offer.

11.3m shares traded !!!!

So the market and their mates managed to pocket a few shares without creating too much attention, classic 'cloak and dagger' market maker tactics.

So a fifth and final offer say around £8.30 - £8.50 with an improved cash element would seal the deal.

No-one wants REA shares let's be honest here and as for those Dingo Dollars I for one can't be asked to watch any currency fluctuations. No interest at all.

Sunday we'll probably hear the improved terms and that will be it I reckon.

Good weekend all. ☺️

Quelled surprise, a mahoosive trade just printed after hours and ahead of the weekend.

Management still deliberating, yeah right !

They were quick to dismiss the last increased bid and made sure an announcement was made to the market before the stock opened up on Monday morning.

MM's were pricing the stock at least 775p on the bid side.

And today nothing, odds on for an after hours announcement by the board once the UK market closes, more than likely !!

Well offer number 4 has just come in valuing Rightmove at £6.2bn.

Can't see that having any impact but let's see what the management's response is this time.

There is a feeling that some of the shareholders want the board to engage in discussions this time.

Let's see.

Ditto those comments Speedie, good to hear from some of the familiar posters on here.

October could be a rough month for everything, stocks, bitcoin and even Gold ahead of the US elections.

We know the Yank banks and hedge funds are in charge and they will do their bit no doubt to create some sort of mild panic in the markets ahead of the elections and once the result is in either way watch for a massive pre-Christmas rally in everything !!!!

Don't expect them to go quietly if they don't get their own way, an improved offer by the weekend would have to be an absolute ripper for the Rightmove board to give it any consideration.

If that fails then expect the dirty games to begin and have a few quid ready for the quick move South in the share price so that the Hedge funds, private equity boys can load up at bargain prices !!!

It's going to be fun 😊

Looks like Murdoch could be getting rather hot under the collar :-

https://www.thisismoney.co.uk/money/markets/article-13891759/Rightmove-rejects-Murdoch-bid-Analysts-warn-frustrated-Aussies-turn-hostile.html

I doubt very much if the Rightmove board give two hoots if REA walk away. But will they go hostile, well there's two school of thoughts here.

We've seen that the Rightmove board are no pushover unlike some UK directors that have taken the money and run to the hills at the first sign of any takeover interest, Imention Hargreaves Landsdown as the latest example.

But we know a lot of US Banks and hedge funds are picking up UK companies at absurdly cheap valuations after years of driving prices to bargain basement levels.

I'm also in Foxtons since last year and there are so many similarities here especially in terms if share dealings. Look at JP Morgan and their downgrade of Rightmove at the beginning of the year and now look at the current institutional share register, full of US hedge funds and banks and hardly any UK interest.

Exactly the same sort of manipulation of Foxtons shares although I strongly suspect that with Foxtons the management are in cohort with the hedge funds and banks unlike here.

Yep, agreed but after seeing US banks and hedge funds decimate your company's share price by some 90% or more from historic highs then it's only fair for them to slam the doors firmly shut and not sell out on the cheap !!

That should have been 'forwards' and not backwards 😂

Well, looks like someone's at it again, 11m so far :-

https://uk.finance.yahoo.com/quote/FOXT.L/

Well, kudos to the board of directors for sticking their heels in and not bending over backwards at the first sign of a few quid and a decent retirement.

Maybe the likes of Hargreaves Landsdown should take note !!

Talks are still ongoing and as we approach the end of Q3, I'm sure both sides will be keen to get something finalised before the end of the week.

Otherwise REA could go hostile in Q4 !!

Try £8.00 !

🤑

Still undervalued and predatory bandits trying to get Rightmove on the cheap again :-

https://www.share-talk.com/rea-group-has-increased-its-offer-to-nearly-750p-per-share-for-the-uk-property-giant-rightmove/

Out for dinner with friends last night and I was asked if I could post that link with the up to date shareholders of Foxtons again, so here it is below.

For comparison, on Page 123 of the Foxtons 2023 annual reports and accounts here are the top 7 shareholders listed :-

Platinum Investment Management Ltd - 30,441,089. (10%)

3G Capital Management LLC. - 28,717,285. (9.53%)

Converium Capital Master Fund. - 15,100,000. (5.01%)

Lombard Odier Asset Man (Europe). - 14,638,923. (4.86%)

Australian Retirement Trust. - 12,890,132. (4.28%)

Hosking Partners LLP. - 11,541,774. (3.81%)

Azvalor Asset Management. - 9,513,579. (3.13%)

So, since April we have the likes of BC Partners now having over 20% of Foxtons shares, Russell Investments having some 6% of Foxtons, Highclere International just over 5% and the list goes on. ALL without being reported to the LSE !!

I'm still awaiting reply from the LSE and it's trade reporting/monitoring team but it looks increasingly likely that I may have to take a leaf out of the US banks and hedge funds books and turn up at their door with a briefcase of used banknotes !! 💵💵💵

https://companyresearch.digitallook.com/cgi-bin/dlmedia/security.cgi?csi=201993&action=deals&username=1039117&ac=208286