RE: CPR25 Apr 2019 23:34
I have a feeling these are going to go up a lot more this next 2 weeks and my reasons are the following.
Over 220 million shares were taken up at 28p a year ago, by people who are much better at valuing companies, then we are. So bear that price in mind,,,, 28 pence. That's where we finished today.
Since then they have reduced the debt substantially, they have reduced the store estate substantially and they have reduced their staff costs substantially.
Some of their stores they are no longer paying rent at the moment but still trading, ( they are paying business rates for the landlords)
They have spent an extra 2 million pounds on advertising that they are doing ok and not going out of business.
We have just gone through a torrid time in the UK with this brexit farce this last 3 months, when you would expect them to fair very badly and yet they have just said they have had a significant up tick this last 3 months.
When I was on the advfn newsgroup, people were suggesting because of the huge increase, this was a dead short cert. Well if people have gone short and the baseline 12 months ago was 28p which the experts thought, then with this extra good news in the last 12 weeks, this could reset the baseline to possibly over 40p.
Time will tell but this could be a dangerous share to short now, especially if the institutions come knocking for more