Member Info for Carrington

New low - 46.68p just set

I think basically what is happening now is the market/shorts are valuing MCG as Alsa - they are omitting the American sale and pricing it at zero as there is nothing on paper to say otherwise - so company value is being adjusted down accordingly

gla dyor

Always makes me laugh when I here young kids who have never experienced a Labour Gov in charge giving it large about how they are going to sort the mess out the Tories created, when in effect the mess was largely down to Covid, The Ukraine war, etc with all countries suffering accordingly - Labour will revert to type when they get in - more power for the unions - you can see this playing out now in front of your eyes as the doctors/rail workers continue to strike, waiting for Labour to get in to satisfy their pay rises at the expense of the general public - Sadiq Khan is an example of this, magically finding 30m to satisfy the RMT workers, now the other unions are champing at the bit for their pay increase - that is the future under Labour, be careful what you wish for

gla dyor etc

Added at 455p

gla dyor etc

As I said in a previous post the macro will pummel MCG and it is playing out now in front of your eyes - new low just set at 48.38p - you have got to hope the Dow comes back in the afternoon session or low 40's are coming down the pipe

gla dyor etc

Guys - I have bought and sold this share for over a year now - the recovery here is basically the sale of the USA business - there is no sale otherwise the board would have updated the market in the AGM - the market and the shorts are concluding that there is no buyer for the American business - with future debt to facilitate that puts MCG in big trouble imo as the American sale is/was the solution to counter the debt, and it is why Qube opened their 0.5pct short a few days ago - adverse macro days will hammer this share as there is no other news to consider - positive macro days will give the share some respite as it did yesterday - but the trend is down - the shorts know it, the market knows it and I know it -

gla dyor etc

Added some more this morning at 131p -

gla dyor etc

"What I don't get is why was the NA sale delayed?" - my guess is there is no buyer - otherwise the board would have updated progress at the AGM but instead nothing was said - if they have a buyer it makes sense to say so as it would flush out other interest and boost the share price - they have no buyer imo - unless anyone can tell me otherwise?

gla dyor etc

Good CPI numbers in the USA just in - that should provide some relief for MCG and other UK stocks - lets see

gla dyor etc

Yes all good here Neil, hope likewise - holding on here for 350p minimum although if MKS continues taking market share I think 4 quid could be on the cards -

gl dyor etc

HSBC raises Marks & Spencer to 'buy' - price target 380 pence - my advice in terms of pullbacks in the share price is don't worry too much - nothing goes up in a straight line - money going into peoples accounts through wage rises in April and an increase in the basic wage in April will filter through into retail - Marks will be the greatest beneficiary in that it has momentum right now and is taking market share from competitors in food and clothing - follow the money

gla dyor etc

Hey Smokey - thanks matey - it gives me no pleasure to sell MCG and I have plenty of sympathy with long term holders - been doing this for over 35 years and I have been in their situation a few times and it isn't pleasant - with MCG they had an opportunity yesterday to steady the ship and chose not to - I can only assume they chose not to as their is nothing positive to say - the shorts are smelling blood here and rightly so -

gla dyor etc

It appears Qube have taken the same view as I did yesterday - opened up a new short on Monday - unless MCG have something positive to say, which they haven't this share will be toyed with by the shorts like a cat with a mouse - 40's incoming

gla dyor etc

I am out for a small loss - expected something positive to be said re the US sale today and it hasn't - for me this now goes down from here on in with no positive news and crappy macro news in the form of sticky inflation and a delay in interest rate cuts - Cosmens will probably keep accumulating as it falls then hold to the death and pick up the whole lot for peanuts as the largest shareholder - I hope I am wrong for the sake of long term holders, but that is the way I now see it -

gl dyor etc

Bought my first tranche here today at 297p - down over 7pct in the last week, looks overdone to me - plenty of money out there atm and personally I don't buy into the view that people are cutting back - I go to Pets at Home on a regular basis and there is no sign of a slow down - the vets and grooming business has plenty of scope imo - lets see

gla dyor etc

Snap election in France set the tone this morning, followed by oil on a tear - again macro economics putting the knife in here - they need to pull a rabbit out of the hat tomorrow or 40's are incoming -

gla dyor etc

The 52p resistance level has held - I decided to cancel my limit order at 48p and buy a small tranche at 52.8p just before cob - for me a lot of the downward slide has been based on macro economic vagaries which has helped the short sellers - I am hoping the board have something positive to say on Tuesday and I think ANYTHING positive said and this goes north - Fingers crossed for Tuesday

gla dyor etc

"I love this share! So predictable, down below 73p already!" - Of course it is - ex divi today numb nut - I have added accordingly

gla dyor etc

Decided to add a few more at 356p - for me there is more upside than downside atm - lets see

gla dyor etc

I think that is a fair point JG re shorts - playing with fire atm - they increased here on Friday however - imv they are looking towards the macro over the next 3 days, some pretty big economic figures coming out culminating in the non farm payrolls on Friday - macro economics is killing MCG atm with no update until the AGM on the 11th - I have set a speculative buy order in at 48p to expire at cop on Friday - the mcap on that would be approx 295m which to me is outright bid terratory - I think this is what the shorts are hoping for to close out their positions -

gla dyor etc