Member Info for Corryvreckan1

Not sure the AGM itself will make much difference, the resolutions are all fairly standard for listed companies and in line with previous years, so should be routine. They haven't issued an update on the morning of the AGM in the previous two years either, so unless they do so this time they won't be able to offer any new information at the event, other than perhaps clarification of anything in the annual accounts, etc. if asked by a shareholder.

More likely the half year trading update on 24th July will be the next main catalyst, or any other contract news they might have before then, followed by HY results on 3rd Sept.

Details are in the prospectus which can still be downloaded from the company website (in the pdf, do a word search [CTRL-F] on anti-takeover to save you time as it's 286 pages long).

9th (not 6th) June 2021 was the date shareholders approved the new equity arrangements, but the 3 year protection appears to have started from the admission to the stock exchange, which took place on 5th Oct 2021. Please check this yourselves in case I have misread any of it.

Boyobach – yes, disproportionate/magnified the key words there I think, and I missed that was the point being alluded to in some of the earlier posts. Aligned with the ‘excess’ over and above I finally realised in my addendum.

Agree it’s not indicative of short action, a good short squeeze tends to be a process rather than an isolated event, so I’m not expecting too much drama in the morning (ha, fool me with predicting that :/ ). Interesting to see the daily volatility in OCDO over the last week - if there is around a 10%+ uplift over the next 2 days it may even be enough to keep the place in the 100, depending of course on others as well. STJ can forget it though, despite their recent rally, unless someone launches a 25% premium takeover tomorrow.

If I find anything conclusive about Friday I’ll let you know, I tend not to let go of unexplained events like that…

Best wishes.

Not announced yet, HY results due on 12th June.

Addendum, if I may, having put my thoughts down and reflected on them.

Looking at the 'excess' volume in OCDO and STJ, i.e. over and above that spike on some others, the points made about the FTSE exit may have been a contributing factor, but not the underlying cause. If this is some kind of expiry/rollover event then maybe some IIs who are betting on not needing the shares in these two, while others tracking the 250 will be needing them from later this month, so they took the opportunity in this event to transfer across or place options on doing so?

But that's in addition to whatever the event was, rather than the driver for it. Possible a timing opportunity that doesn't happen often? But I'm back into guessing now, which I never like to do, rather than being logical so I'll leave that for now without drawing any conclusions.

Last post cut off short -

Although granted that STJ huge volume yesterday may also have been influenced by their exit from the 100, but that's more to do with the underlying problems at STJ, rather than the rebalancing as an event.

Boyobach - look away from both OCDO and the shorting aspect for a moment.

The companies you list from your watchlist are all 'relatively' smaller in terms of the market, and even then you have shown that the pattern exists in some of them as well. I mentioned to look at most large companies. I have nearly 200 shares on various watchlists (don't ask) and if you look at the FTSE100s in particular - banks, miners, RR, BAT, Diageo, M&S etc. - all exhibited the exact same pattern yesterday. ABF - volume and value nearly 10x avg UT went through in Friday's!

You point out that other than the Kroger day you haven't seen that volume for OCDO - you can apply the same logic to many other companies who will now be the same as a result of this 'event', whatever it was.

This is the link to the official stock market trades for last week so you can see what I mean by the total volumes and value yesterday - it is across the board to cause that kind of spike:

https://www.londonstockexchange.com/reports?tab=market-summary

"it is unsatisfactorily opaque" - I agree entirely, and am struggling to tie it down to any one thing. I'm not done researching though because it's a curious market dynamic.

"and may sometimes be associated with shorted stocks" - maybe, but also here associated with many, many more non shorted stocks so not a clear conclusion.

"It does beg the question, if it is an institutional process, why is it not conducted off the exchange - why via the auction?" - I really like this question but don't know the answer, although I suspect it's to do with transparency. The closing auction has become more and more of a key event in recent years. Triple witching was mentioned before and you will see a very similar thing in the UT on that day, across the board, when contracts expire/rolled over etc.

Institutions do what they do and most of the time we are just passengers, but things like this rarely have a significant measurable impact on the market from one day to the next. Open tomorrow will tell all but I'm not expecting any great shakes (although maybe, hopefully, a market wide uplift from the US market events on Friday).

DonBroco - similar answer for you regarding STJ. It's not just them and OCDO, it's almost every FTSE350 company, so it's not logical to conclude that it has anything to do with just those few that may exit due to the index rebalancing, which doesn't happen until 24 June in any case.

So, um, that possible ‘hesitation’ I mentioned on Tuesday. Yup, that one :(

Intraday has been tagging the top of the recent uptrend and then closing below it each day this week, until yesterday when the intraday peak didn’t quite make it. Perhaps suggests the market was okay with the recent trend but not yet convinced enough to push us into the middle of the stronger long-term uptrend?

So a bit of indecision around the SP at the moment, and the run of daily doji candles supports that view, but maybe not with a good outcome.

Good to see the US sorted themselves out into close yesterday. I mean, the PCE came in bang on estimate but they still decided to throw a hissy fit in the afternoon (perhaps taking a lead from their newest convict) before coming to senses later on (much unlike their newest convict). Hopefully bodes well for a good run next week as otherwise the slight weakness yesterday may retrace a little more...

Not yet convinced about a cup & handle, looks a bit sketchy? But if there is a breakout then it could certainly herald a strong run up. Lemon fancy for me please :)

For now, at least, the rune stones remain sealed in a box. Might get the tea caddy out though…

This is not Ocado or CPI specific, it's across the board yesterday. Look a most large listed companies and you can see the same pattern this week. The full stock exchange order book totals show 2.5x daily avg volume and 3x daily avg value yesterday compared to the previous 4 days (not the full picture but at least indicative) with an initial lift on Thursday in the run up as well.

I can't place exactly what caused this but expect the answer is in some kind of contract roll-over/expiry/rebalancing type of event or similar, or other large institutional processes happening, that ultimately are just a semi-regular part of global market dynamics. It's too wide spread to be anything else IMO. Possibly combined with the US PCE announcement yesterday and expectations of the ECB cutting their rate on Thursday (the first significant global cut we will likely see in this long running saga). But I'm into guessing likely catalysts now.

The FTSE rebalancing is on 24 June (and still to be confirmed on Wednesday) and in any case would never have this kind of impact on one single day as Boyobach noted below. Triple witching is 21 June (third Friday of each calendar quarter) and you can expect a large uplift in auction volumes across the board that day as well, although not usually as much as yesterday.

17th May 2018 was the day OCDO announced the Kroger partnership.

They're not 'sells', despite what this website tries to guess. They're the Uncrossing Trades from the closing auction - so buyers and sellers both matched together at the price that clears the maximum number of auction trades off the book.

They happen at the end of every day, and sometimes during the day, on almost every large company listed on the stock exchange. Not of any great interest but they do set the official closing price so can sometimes direct what happens at open the next day.

Disposal, from 5% flat to now under 5% in total, crossing on 29th May.

But Blackrock have been adjusting around an overall 5% position for quite a while so it may just be inline with their normal pattern, possibly even just algo driven adjustments due to the buybacks?

Need to complete Re-domicile to Spain first (estimated around October/November) so may be considered for the 250 in December if it meets the criteria at that time.

Someone was asking about dividends a couple of days ago, so in case anyone's missed the details:

Announced as 0.6p, giving FY total of 0.9p (0.8p for FY23). Final div is slightly down on last year's 0.67p after interim was higher, FY total in line with guidance split.

XD is 13 June, payment is due 12 July. Yield on the final is only 0.5% @120p so don't imagine the market will take much notice.

AGM on Thursday 6th next week, they normally issue a trading update with FY outlook that morning.

If TB wasn't there in person then he would need to put his votes in proxy beforehand, it wasn't notified as a hybrid meeting where you could phone your vote in like a few years ago. Could then possibly be TB and KS combined? If FAB had a rep at the meeting they would not be included in the proxy. Just guessing a possible scenario here.

I don't like this format of only publishing the proxy though. Full details should be in the minutes of the meeting though, if anyone wants to request them.

Possibly a voting turnout of up to 50% in the above scenario, along with other attendees? That's within a relatively normal range for a company like this, given general shareholder apathy across the board and the difficulty for retail to access online voting.

I wonder if folk are now waiting for the manifestos to be published in the next couple of weeks? Although Labour already made their position on ticketing clear and published their detailed policy on the railways back in April so not expecting any surprises there.

Maybe when Sunak proposed National Service he got his words muddled and actually meant Nationalisation, in a failed attempt to steal lefty votes ;o)

Timing's not good, too many perhaps now on the side lines here until Friday?

Also Dick's are claiming gains in market share with forward momentum, highlighting Nike's new upcoming ranges as an example - possible knock on sentiment vs Hibbett now? [I've not checked geographical overlap]

Wednesday next week:

https://www.whsmithplc.co.uk/investors/financial-calendar

He, he - I had forgotten about that comment. No, not filled with anything, and I suspect those gaps will remain now to forever torment me :(

I see we also now have a new gap from 272 to contend with, and here's me all out of chocolate (*sob*). However, importantly, that was created on results day by gapping the SP back over what would have been the base of the previous uptrend that started back in October 2022, had it continued unabated. This is good, for now at least, as the top of that uptrend channel (which we have rightfully reclaimed) is around where the higher Broker ratings have now projected :)

We have also now closed three days running above the 290 closing high from that previous uptrend, although maybe some hesitation due as we are now at the top of the current short-term uptrend from Feb 24. But if it blasts through then I'm going to have to plant cocoa trees in my garden ;o)

[We do not want to see a gap down soon, no matter how much I want that 272 to be filled - very bad if it does happen and I shall then have to return to rune casting.]

Bumping this thread with the correct results date in the header. Maybe stop replying to an out of date thread that fills the board with conflicting dates?