RE: Barclays19 Feb 2025 19:18
When accounts are a mess and have governance issues
You go in a short time from positive FCF to negative
And the markets have brutally slashed your stock price as a result
And then the CFO, the person who should have been in charge of ensuring all of this was in good order and accurate, walks
Ignore the reason given. He's gone cuz he fecked up. There were issues identified on his watch.
That's a huge positive and the market will love that news. Axe fell on the right person.
2nd, and as a bonus, Barclays have taken exposure to over 5 Million shares here, knowing more than we know (no rights issue is coming, no equity wipe out, no anything the doom mongers have been spreading the last few days)
You get a massive 🚀🚀 in the hugely oversold stock
Other than a quick shake tomorrow first thing expect this to rocket next few days.
Bottom line is review won't change the numbers materially. Not much impact on cash as stated. If you didn't believe the numbers before you can believe them now. The Deloitte review team will be checking it before it's released. If they say on track then it's in track.
Hold and buy the dips.
If you're short, close up now like the big guys are doing yesterday and today. Fun's over