RE: Q3 Earnings call ?24 Oct 2025 10:31
I think that's a bit harsh.
Foxtons has demonstrated a remarkable turnaround in fortunes since his arrival and was the main reason why I told everyone to invest in the company when at around 30p it really was a no brainer once Mr Gittins had his feet back under his Foxtons desk.
Some further evidence to back up my post a few days ago with regards to Foxtons potentially being in takeover talks:-
1. Yesterday those Yanks and MM's took the stock down to 50p once again at the open, it may have taken out those 10% stop losses.
2. The stock finally closed at 55p once again bang on the 3 months VWAP.
3. As previously commented with all the 'market' volume yesterday why could Foxtons only buy back 20,000 shares and not at any of the lows of the day, where were all those 'sellers' ?
4. This is the second round of share buybacks immediately after the last £3m share buyback finished at the end of August.
5. If Foxtons was looking to continue it's expansion then why deploy cash into a another round of share buybacks which as we know does nothing for shareholders.
6. Share buybacks does nothing for shareholders but what it does do is that it reduces the number of voting shares in circulation as those reclaimed shares get cancelled.
7. Reduced shares in circulation means any predator running the rule over Foxtons are saving money every day. Have Foxtons been instructed by a third party to buyback as many shares as possible before a bid perhaps with all that cash Foxtons are sitting on ?
8. Saville have commented this morning that the high end property market in London is suffering but shares have hardly moved this morning.
9. I mentioned just a few weeks back to keep an eye on the Savills share price :
1st Sept. Savills share price £8.75
Today £10.20
In comparison,
1st Sept. Foxtons share price 55p
Today 55p
Just my thoughts 🤫
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