We all know a SP that reflects the true value of ITV is 150-200p. Nobody really disputes that. What some of you fail to grasp is the real reason why we only get a third of that currently. It is not market shenanigans and people manipulating the price.
It is an abysmal BOD, CEO and CFO. Nobody wants to invest in these people. City of London has 0 confidence in media luvvies, hangers on and cronies all draining money out of ITV and giving nothing back.
Carolyn please resign.
The boards liar still needs to put up false back stories about me? No family inheritance here. I have amassed more wealth than my parents and siblings combined. I am the bank of Mum and Dad for all my family and am still young.
Nige how would anyone hope to know what an anonymous poster on the internet has done "in reality"????
You Sir make up stuff about other posters all the time. Claim to know the truth about them. You claim to know where the share price is going. You have claimed over 100x that the bid is coming down. You have erroneously urged people to top up only for the price to crash.
The "most dishonest poster" epithet is all yours Nige. You own that and you know it but are desperate to stick it to us more transparent and honest posters. You are jealous at the boards more successful traders and are forever slinging mud to cover up your own terrible losses here.
You needed to do the walk of shame after the presentation as your sidekicks Anger and Janus did, but like the Dame you linger here like a bad smell.
Great, now even Jed is going down the Nigeco path of creating fictional back stories to discredit people that they lose arguments to.
Jed I worked at ITV in 2006 as a contractor. No sacking required. I technically did not work for them. I was however offered a more lucrative role at a US insurer and went. I regretted the move almost instantly and learnt the important lesson to put happiness above money. I am now self employed, consultant and I travel the world designing and implementing large scale projects. Never been happier or richer but I still miss the ITV floors and getting to hang out with staff and people from the box.
The HR lady made it clear that "Cazza" is paid by results. 2021 was a bumper payment of over 3.5 million, 2022 will be nothing like that. She still earns too much for what we get out of her in return. Burberry were sensible enough to recognise a freeloader and blagger and kicked her off their BOD last year.
Jed is still polishing a turd?
Jed the FTSE 100 is 7200. Only 600 points on 10% down on its all time high. ITV is 1/3 of the value it was when the Disastrous Dame took control.
Take a break from ramping and lets try to address where management are going wrong?
As some one who has experience of working for ITV I know the employees and culture are world class. One of the greatest work environments in London. The brand is instantly recognisable and loved by millions. They are well up on diversity. There is no real debt problem.
It is the Board of Directors that smells bad. The markets are leaving the room because the stench of weak leadership and cronyism has become too bad.
Carolyn please resign.
Certainly exercise caution around anyone advising to buy into the dip here. A lot of us bought after the presentation horribilis and got burnt. Thank God most of my portfolio is Shell and BP.
The only comfort I can offer is that most ITV employees will be more exposed here than us small investors. Each board member will have to talk to them and walk past them everyday knowing they are wrecking that employees pension, retirement, investment plans. The guy in the postroom when the box or crate of wine arrives for a board function must be cursing them.
Carolyn please resign!
This again? I have been the most consistently right poster here. I warned not to buy in for the last 2 years. I warned big losses were coming before the presentation. All because I do not hold your rosy view of this share and knock the CEO's abysmal performance you would want me banned???
Jed how about you stop ramping a share where small investors are getting burnt? You are losing people money by promoting a false perception of ITV as a well run company. FTSE 250 relegation and halving in value say it is a turd.
I now use my morning dump to gauge which way the ITV share price will go. Will it sink straight down or will it float briefly only to eventually go down.
Here is the quote from two years back. Start of Covid
"At a recent ITV internal event the Dame was asked what plans she has to give investors some confidence? She said that at the moment we have to "ignore the share price" and went on...
"it is not about investor confidence in ITV, it's about UK owned stocks. It's a very specific thing. If you look down the FTSE list any stock that is a British company at it's core is having a really torrid time as far as the share price is concerned. The catalyst for the market are NAR, so ad revenue, that's spot advertising, that's an incredibly important barometer, because if NAR is going up it means the economy is doing quite well and if NAR is flat that is better for us than it going down. So there are predictions for it for next year going down so you know that will be a catalyst either positive or negative. SVOD will be a catalyst. Once we tell the market how much we are spending they will know we're investing and know what to expect over 5 years. And if we start tracking well that will be a catalyst for post growth. Solve Brexit, solve SVOD and we're laughing. "
Utter carnage all over again. "Cheap as chips", "top up" only then to get burnt when you believe the BS here.
Justi it is hard investing here. I used money from Shell shares to buy in here. Shell is up 4% today and this junk is down over 1.5%. The Board seem content with a very mediocre CEO who is just treading water and managing to keep their head above the water.
Same old ITV. Gains 2% in early hours, then it all falls away. Expect those same shorters to be on this board now urging people to "top up at cheap prices". Drive it up so they can knock it back again.
Jed you are planting unrealistic hope in investors minds. If this goes above 80 we are alright with the trading update next week. Could take months to get back above 90 or £1. Only a real change in direction at the AGM could have reversed some of the losses we have taken here this year.
Carolyn OUT
My outlook is guided by the share price. The moment this goes back up to pre covid £1.50 and then £2 I will be singing the panto Dame's praises. Until then I will kick her plans where she promises to double revenue like a politician promises 300 million for the NHS. False promises
Jed you are missing the most obvious flaw in the Dame's future plan. The revenues are just not there. The market for TV and entertainment is only so big. She proposes to spend more money in a hope to boost revenue. Must mean taking back audiences from Netflix and other forms of entertainment. Nobody is buying it. She cannot hope to double digital revenue at a time when more and more big US streamers are putting the squeeze on ITV viewing figures.
She needs to explore other sources of revenue. Making content direct for streamers and seeking agreements to show netflix or Disney content on Free to Air after an initial period on their platform.
If ITV screened the Mandalorian, series 1 and 2 on saturday nights they would rake in record advertising. In return they could make star wars spin offs for tv to be aired on Disney first.
Is there a future plan? I think all the markets saw was a proposed plan to spend big and imagined returns on those investments that they struggled to believe would be delivered. "Double digital revenue" sounds nice but I think analysts no longer believe "Caz" and think as with Britbox she is just ****ing the money up the wall.
No future, just increased spending with no guaranteed increase in revenues.
Nige my understanding of Gamestop was that when people started buying shares it forced the price up so much that they then split. Double then in circulation. Repeat this a few times and you dilute the institutional investors holdings whilst pumping capital into the business.
The AGM Video
https://vimeo.com/704132942/ff2044e917
Where are you Jed? That is me at 38 minutes. They spliced me up in true TV editorial style and merged my rant against Caz's over inflated share options with some easy to answer question on dividends.
Jed you were there in person at the AGM? Were you one of the gentlemen who asked a question?
I admire your optimism and wish you the best of luck with your plan to beat the shorters at their own game. A company like ITV which nearly every UK citizen has an emotional tie to could possibly be the one to spark a small investor backlash. If the Murdochs tried to buy it out it is feasible that enough people could buy up shares to keep it out of their hands.
Still Carolyn Out. That brown jacket she wore to the AGM was bad. Somebody from wardrobe needs to advise her on future.
Jed the clock is ticking on ITV's relegation. One month until the next re-evaluation. Dame clueless will need to pull off a dramatic recovery and get the share price back to well over £1.
If she fails then she should do the right thing and resign. New management needed at this club if we are ever to get back into the City of London Premier League.
Might as well get used to it now. ITV looks set to be a FTSE 250 company going forward. The company needs to slim down the board and remuneration of senior execs to reflect that reality.
Carolyn OUT.
What makes you think the direction will be any different from what was laid out in the disastrous presentation and launch of ITVX? No bounce at the trading update I fear.
Then we have relegation from the FTSE 100 to FTSE 250. Any other business or football club relegation would see the manager/CEO dropped. ITV though is being run like a public sector organisation/charity and performance and profit no longer impact on the CEO
Carolyn OUT for getting us relegated to the Championship. She has no idea what system or formation to play.