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The headline shorts are increasing again - now at 4.07% with five players.

Its still very unclear where the SP will go in the short term, even on the charts.

We could certainly do with some good news, maybe some solutions business other than grocery.

Buzz

With news like today we could start to see a recovery in the SP as sentiment improves but any real gains are probably long term, 3-5 years or so, especially as new funding will be needed regularly.

Very impressive time frame.

Excellent news!!!

The strong messages from the board continue with todays share purchase by newish board member, Cheryl Potter.

Note is says this in her portfolio on the M&S corporate website -

"Cheryl joined the M&S Board on 1 March 2023. As the former head of the global consumer team at private equity firm, Permira, Cheryl brings a strong shareholder value focus to the Board, as well as a wealth of leadership experience."

Yes, looking like the clear run up continuing into the FTSE100 with much more to come with the return of dividends, all driven by high sentiment and institutional buying.

Enjoy the ride - certainly not a time to sell!

So the state of play at the moment is that MKS is ranked at 87 and would gain automatic promotion if it holds this position - 90 and above gains automatic promotion at the end of August.

It could be that it ranks even higher because the ranking list hasn't been updated yet and many companies lost value today.

Current market cap is £4,369.78m

http://www.stockchallenge.co.uk/ftse.php

Yes, certainly Carrington, I make it that MKS is now at position 84 - it needs to retain a position of 90 to get automatic entry.

A fantastic trading update - a real headline grabber - onwards and upwards.

One factor that the article didn't mention is the competition.

The fact is that as M&S advances most of the competition is going backwards and disappearing.

Look at what has disappeared over the last five years - Debenhams, Arcadia etc.

What's going down - John Lewis including Waitrose.

Its an open door!

Also, take into account that the NASDAQ isn't doing well at the moment.

It could be that OCDO is resuming following the NASDAQ - that should be good news.

Its beginning to look like Gove might have done M&S a favour.

The best option now could be to simply close the Marble Arch store.

That would still leave them with a large store at the Soho end of Oxford Street.

The SP is certainly holding much better than I thought it would last week and the headline shorts are down, so lets hope that the SP will consolidate around the 875 - 950p level for the rest of 2023 and then moves back over 1000p next year.

I think a period of consolidation is needed to give potential buyers confidence that the current valuation is valid - the value of OCDO is guided by sentiment.

Headline shorts now down to 3.05% with three players - bodes well.

One of the innovations the Ocado announced as Ocado Re:Imagined in January 2022 was centred on same day delivery.

So investors can be confident that the move to offer more same day deliveries is part of a well planned strategy and one that will be particularly effective when the area is serviced by Zoom.

It does seem that the SP will settle just above £2 in the short term.

The poor retail sales figures had no effect on the SP but there are no real drivers at the moment and with other 250 companies are already better positioned to join the 100, MKS will probably miss out this time.

It would be great if by November MKS was in an automatic entry position.

Alcoops

If the SP continues to remain static it will fall still further when there is dilution.

Hence the need for a substantial rise in the SP.

But, I think we will see the upside now as financial fortunes and sentiment improves.

As I said - Its sink or swim time now - there is no middle ground.

Not sure about that Fforestgwmp.

Retail sales figures not good - today could be a big test for the SP.

https://www.bbc.co.uk/news/business-66429307

I think I was jumping to conclusions about the two changes rule.

Looking again, it seems that any 250 companies that reach position 90 or higher, the automatic entry position, will displace the lowest ranking 100 companies - any number that reaches that position.

If no 250 companies reach 90 or higher then they look and see how many, if any, 100 companies are below the automatic exit position of 110 - these are then replaced by the highest ranking 250 companies.

Basically the SP has to rise substantially from these levels over the next 2-3 years.

Its sink or swim time now - there is no middle ground.

The review date is Wednesday 30th August - changes take place on Monday 18th September.

MKS will really need to put a spurt on to get to the FTSE100 this time, only two changes are made and there are already two companies above the automatic entry point with another three between MKS and the automatic entry point.

Note - the automatic exit position is below 110, so being at 99 certainly isn't a guaranteed entry point.

Lets hope you are right cureboy.

Shorts are back up to 3.55% though, with three new positions in just over a week.