Member Info for bobocaca

Wednesday’s ruling means the Home Secretary now has 48 hours to make a decision.

She may choose to reject extradition on a rare legal ground known as specialty, or can take the unusual step of letting the judgment lapse.

Should Ms Patel approve his extradition, Mr Lynch will have 14 days to appeal last summer’s ruling, which could mean a final decision taking another year.

Mr Lynch’s legal team had claimed that a lower court had incorrectly rejected Ms Patel’s attempt to extend her decision.

However, Mr Justice Swift wrote in his judgment: “I am entirely satisfied this was a conclusion he was entitled to reach. It was permissible for the judge to require a better explanation be provided and, in the meantime, refuse the Secretary of State’s application.”

Charles, you're right, I just copied the title from news. Now it is for home secretary Priti to decide whether to approve deportation.

https://www.telegraph.co.uk/business/2022/01/26/mike-lynch-fails-high-court-bid-delay-extradition-usa/

British technology tycoon Mike Lynch has lost the latest stage of his legal battle against extradition to the United States.

Mr Lynch wants Home Secretary Priti Patel to be given more time to make an extradition decision.

He mounted a High Court challenge after a judge who oversaw an extradition hearing set a deadline. A High Court judge ruled against Mr Lynch on Wednesday.

Many stocks are up 4% in premarket after Microsoft earning, looks like it is going to be a good day.

All your today's messages ended with question mark, particularly big fund buying. I haven't seen a tiny hint in volume that suggests so. Where did you get the information?

I think you referred to the message "Charles, stop making dubious message headline". I hadn't noticed it was gone, it was not deleted by me.

Nobody like it when their fortune fell 17% in 2 days. When I'm feeling down about it, I'd look at some Nasdaq stocks, to see their SP have fallen over 25% in a month. That will sooth my pain to know there are many others in the same boat or worse, sharing the same sorrow. There is no point feeling angry or lashing anger at some strangers in BB.

As a novice investor, I've been thinking how to deal with balance in red. I could sell up, but the future prospect of Darktrace always tempted me back. Now I decided to follow the old wisdom to just leave the shares as they are, and let time do the work. I have a buy-to-let, when I bought it 2 years ago, I instantly lose about 15% of investment to stamp duty and fees. Then I left it to letting agency to manage it and almost forgotten the existence of it. Then, house price jumped unexpectedly in last year, netting me good paper profit. Now I'd like to apply the same thinking to shares to forget I even own them. Time is relative. If you look at something very frequently, you'll feel it is happening slowly. It felt like a life time since the great fall from peak at 930p+, but in reality it has only been 3 months. I'm 100% certain my Darktrace shares will bring me profit in 2 years time.

We can't change the market, we can't stop short seller and we can't stop newspaper from using the word "snake-oil". The only thing we can control is what we do and how we think. You could sell up if you need the money, or just leave it and convince yourself it will be a good long-term investment, or anything in between. But, it is important to find peace in yourself. Do not let the SP consume you.

Good things that could happen this week is Microsoft earning and Fed interest rate which could reverse Nasdaq downtrend.

I think the big news Charles had in mine is the Mike Lynch news. This will be big, but can be bad also. There are actually 2 court cases, the one that is coming up in 2 weeks is to whether the Priti will need to decide now whether to approval the deportation. The other one is civil case, which is Priti is waiting for. The result of latter can happen any time now. This will almost certainly cause big changes in SP, but unless ML actually dump his shares, I think any turmoil will settle after a few months, which may not be a bad thing to remove uncertainty. I'm mentally prepared to get such bad news, and make sure I financially won't need to sell my shares in 2 years time. On the other hand, SP could spike if civil court rules in his favour and there is no case for deportation. So, yea, it is a huge gamble.

Sorry for being Charlish, but another remote yet market moving news is for Darktrace to declare they have successfully defended US infrastructure from Russian hackers.

There are many authors write for Motley Fool, it looks like more of them are starting to like Darktrace as the SP falls. I see that as a positive thing.

https://www.fool.co.uk/2022/01/25/im-listening-to-warren-buffett-and-buying-these-cheap-growth-stocks/

In terms of UK stocks, I like Darktrace, the cyber-security firm. This has recently dipped to below 400p and is near its IPO price. Even so, revenue growth for the next financial year is expected to be around 43%, and cyber-security is a growing industry. Personally, this recent price drop offers a great opportunity to buy.

The price has been maintained at 360p in the last hour. Any idea why the algorithm is doing that?

sheltie, I don't agree with your view about Darktrace's tech. Unfortunately, I think that represents view from general public and traditional institutional investors. I think we're just at the beginning of tech-hating cycle, this will not improve in few weeks time. If we ignore the ML factor which can go either directions, I guess we might have to wait till Darktrace's annual report in October to prove that profitability is within reach before the turn of the tide.

It is not just Darktrace, all UK tech stocks are hovering within 1%, including those suffered severe lose in yesterday like Oxford Nanopore. Looking at current trend, I will be happy if SP stays positive till US market open at 2.30pm.

In a B2C business, it is easy to boost customer numbers by giving discount and free trials. However, it is a lot difficult to win business in B2B world. Big companies like Microsoft, airlines, electronics manufacturers have rigorous procedures and technical study before adopting Darktrace, let alone signing multi-million dollars contract.

People like Peel Hunt and ShadowFall will never be able to get hold of people from reputable large companies like Microsoft for interview. No company spokeperson would use word "snake oil", they must have gotten the quote from one begrudged small customer. I don't believe a thing that PH/ShadowFall says but the media just keep repeating those quotes. The Citi lack of knowledgable and daring analyst to cover Darktrace, letting these rogue shortsellers roam freely.

Guardian
https://www.theguardian.com/business/2022/jan/25/snake-oil-doubts-loom-over-tech-firm-darktraces-high-octane-sales-strategy

The title is hostile but the content is balanced.

Even Microsoft was down 6.5% at a point and Nvidia down 11%, many nasdaq companies' SP were below than a year ago. ?I have never seen anything like that, I thought the war had begun.

Now the US indices are in green, and Darktrace after hour UT is low volume, hope tomorrow will be a good day to recover to 400p (pray pray pray).

nasdaq is regaining today's lose, hope the same for darktrace tomorrow.

Darktrace's SP has nothing to do with the company itself.

When Peel Hunt's report came out in November, SP fell 20%, regardless of accuracy of the report but at least there's a reason. Today SP fell 15% without any bad news related to Darktrace specifically.

The reason is probably because the market was already scared by US interest rate, today the potential war between Russia and Ukraine spooked the market further. The only comfort I have is that Oxford Nanopore is also down 11%.

Everybody is in red unless you bought the shares on (pre) IPO, or shortseller.