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Ocado JV is not nearly as disastrous as it looks - don't forget M&S make profit on their own branded products sold via Ocado and it allows them to get better discounts from suppliers re economies of scale as product volume builds.
In contrast look at what has happened to Waitrose since they parted with Ocado - its probably the main reason why M&S is pounding Waitrose and JLP now.
Yes, ITX has a secondary listing on the OTCQB index in the US to enable US investors to invest using dollars.
https://itaconix.com/wp-content/uploads/191218-OTCQB-listing.pdf
A companies valuation isn't just about revenue, its about how the market values future performance, its assets, the management team and sentiment within the market that its listed on.
London is flat at best, the US market is much more dynamic.
ITX is clearly undervalued in London.
Clearly other companies big and small are considering their options -
https://www.bbc.co.uk/news/articles/cl5k58x9g83o
Its clearly the case that an AIM listing isn't working for Itaconix and it would probably be the case that even a full market listing would also be pointless.
itaconix is now, I think, mature enough to break with its historical roots in the UK and seek a US listing, probably on the NASDAQ.
Also most of its business is transacted in the US and the Euro zone - the UK is just an irrelevant backwater for the company - move where the action is!
MyIPA
I was posting with similar positivity as a new investor - the future looked great then - but as I said, I lost 90% of my investment.
Normally, I would agree that Foxy and the other long term investors had other motives, but in this case they are actually, I think, providing a valuable insight into this company - I would suggest that you take them seriously.
Ease up on Foxy - everyone who invests knows that shares can loose value dramatically but its the way that EQT lost value that is at issue here and is in my view certainly worthy of investigation.
So, its no wonder long term holders are so bitter - I was none too impressed when I sold out last year, about 90% down.
Foxy - I would look for other recovery plays - say about 6 other shares - and just hope they do better than EQT - maybe OCDO and CWR for starters, but DYOR.
Come on Valueplay, you know better than anyone how quickly the SP can respond here with just the whiff of good news and it could come at any time.
I admit though it is necessary to be an optimist to hold OCDO at the moment, personally I am still content to hold, especially as I have no outside pressure to sell.
Ocado Retail are certainly much better placed now than they were when M&S chastised them for poor performance.
It has to be said that they responded brilliantly and are now well back on track for the future.
So, its over to the M&S board now to settle any disputes that remain between M&S and Ocado and give us a clear indication regarding disputed payments and the plans both companies have for the 50% of Ocado Retail that Ocado still own.
Cureboy
I think the market has, probably justifiably, concentrated on the lack of profitability at Ocado Retail - this has given the impression that the market just considers Ocado to be a supermarket group.
But, in actual fact its high development costs allied to high interest rates that have really dragged down the SP - until the macro improves its unrealistic to see a real recovery in the SP, however OCDO certainly remains a hold and the SP will take off at some stage.
Justdeezerts commented -
"Apparently, our 'lost' customer will more than likely have to replace ITX product with petroleum-based alternatives - well, good luck with that!"
I guess this could take a while so they are probably still using ITX product and will very likely need more before they reformulate, therefore, the reduction in revenue may not be as much as forecast in 2024.
It will be very interesting to see how quickly the freed up capacity is used up - a real gauge of how Itaconix and its products are regarded by the chemical market.
John has been saying for a while now that he expects Itaconic to become a large company - a bounce back this trading year will go a long way to validating that claim.
Today simply gives confirmation that Ceres is still on track despite the slow advance to new cleaner tech.
More importantly from a shareholders point of view the company is well funded and being managed, as it always has been, to allow for slow adoption of new tech.
So for long term holders, this is business as usual, patience as always is essential with growth shares.
I think the new man at JLP will have to do some something radical to turn things around.
One option could be to sell Waitrose - M&S would be an obvious buyer - think of all those wonderfully located Waitrose stores in M&S heartlands.