Sold out today2 Jun 2020 17:17
Made a good profit buying at 30p and thought we might see 70p here. But the comment by Paul Scott from Stocko put the position very well. Could easily see a 20p placing here so will take my money and watch for the moment. A lot of placings at the moment and Card has not much cash left. Yes it can borrow from the bank but they will say raise some equity. So good luck holders.
"stretched balance sheet, which is likely to look grim once all the covid shutdown losses have been factored in. Shareholders should be braced for heavy dilution from a future equity raise. If it ends up being a distressed raise (like the one from Ted Baker yesterday), then that could destroy a lot of the remaining shareholder value".