The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I more than doubled my money in Glen back in 2018-19 when I sold all my holding at around 387p which was bought at 120-185p.
Unfortunately couldn't jump back in during covid crash as I got stuck with IAG and missed rally in Glen from 110p. I sold all IAG holding last year for small profit.
Looking to hold wizz for 41-4500p target, My average is 2165p. DYOR
2250 should act as support from now. Wizz should return to its previous trading range very quickly.
There may be bit of consolidation around 2500, but no real resistance until 2910.
Once it clears 2910, rise towards 33-3400 should be easy provided wider market/oil/euro_strength supports the move.
DYOR
2167 is next resistance. After that 2250 next level of interest.
Once it clears 2250 then march to 2700 is on the cards.
Hold tight, this should hit 30-3400 in next couple of months.
High oil price and weak Euro has affected wizz share price. Hopefully Oil will fall towards 70-80 and Euro is almost at bottom, so should start rising toward 1.15-1.20 to USD in coming months. These 2 factors will take wizz sp to 40s.
They are now predicting profitability in 2nd quarter. Why didn't they say this just one month ago in final results announced on 9th June.
They refused to give any future guidance a month ago and made sp crash from 30s to 16s. Lost almost 50%.
If they would have said something positive in last results they would not have been in this situation.
Oil down 11% today, already below 100 dollars.
https://www.ig.com/uk/commodities/markets-commodities/us-light-crude
Options can have expiry of 1 year, 2 year or longer. I am sure he would have bought options not expiring at least a year.
So Varadi is sure about the recovery of share price. So I am relaxed. Let it take few months for recovery.
Quarterly results on 27th July will show us in regards to recovery.
Ozzie,
Instead of buying ordinary shares, Varadi has bought options which are equivalent to 151789 shares which are worth 2.8m pounds. You can buy options at fraction of share price and have same level of exposure through options. So effectively he has used leverage to his advantage to buy more shares through options. This my understanding.