Member Info for dhton

Pleased for those who have done well from the deal but there can't be many. 9p is a far cry from the promised uplands of 20p-30p that was promised so many times on here!

But the real losers are of courese the employees. As they always are. The workforce will be cut to the bone and will not see any of the loot the directors will receive, even if that is way below what would have been expected 3 or 4 years ago.

Very possible and fair.

It will be interesting to see if a high profile role such as Tech Chief is replaced or if it is left vacant.

There are a number of roles at risk at MM HQ. The Technology chief has left and others further down pecking order are following him through the door.

Is there going to be anybody left to turn out the lights??

It all depends on what you are selling!!

If it is fast fashion asos, boohoo, misguided et al then it does sell for pennies on Vinted because it is a low retail price and almost throwaway clothing. But quality products like Barbour, Lacoste and others similar all hold a reasonable second hand price far beyond what MM is offering.

You are right they do offer Lacoste polos, I did miss them yesterday (my incompetence!!) but they are offering £1.32 for one in good condition as most worn items will be in. A quick scour across Ebay and Vinted shows prices of £15-£25 without any trouble. If there was £2-£3 difference between MM offer and Vinted then it's easy to take the hit due to convenience but £13 is a lot esp. when likely to be people selling multiple items. It is far too big a gulf to be acceptable.

I genuinely applaud the move into new categories, it is something that has been on the agenda at the top table for a long time now and it is long overdue. And maybe it will prove to be a masterstroke. But the pricing offers feel very very low particularly when there are wildly popular free to use alternatives already well established in the market. Without any attacks or emotional response Hedge, can you recognise that very legitimate piece of feedback?

I can see the thinking behind expanding into clothing category given the rampant success of Vinted and the like. However the execution here is terrible. The categories are so generic to be almost worthless. How can you categorise items just as 'nike jumper' when there are hundreds or thousands of different styles, colours. Some limited, some mass produced.

I would think this may suit people clearing out a loft or some such but given one can only sell branded items, and not just clear out any old clothes, why would you go to the trouble for such a low return when you can list on Vinted for the same effort and get a much higher price?

I have just tried to sell a Lacoste item. No doubt their most famous item is a polo shirt. No option to sell a Lacoste polo shirt, just 'shirt'. And even then I am only offered £2!

I'm afraid to say another example of misguided thinking that shrouds MM.

Because I'm interested in what happes next, that is why. I am sure you're the same. As I posted yesterday anything other than cheerleading is immediately shot down. I guess emotions are running high if you have backed a lame horse.

I am unclear how you have made the leap from my referencing of recent analysis shared into the business to me being fired but you are very wrong! I don't think anybody has ever been fired! People have grown bored and left or been promoted into new roles elsewhere and there has been redundancies over the last 12m but I didn't ever see anyone get fired.

I thought the results was going to bring an increase and brighter days? It has been gone a month now and still the price collapses.....

Through whichever lens you look this is not a positive story.

Past month - down 10%

Past 6m - down 70%

Past 12m - down 78%

Since Apr 21 - down 96%

I have no doubt I will be dismissed as a troll or naysayer but the above are all hard facts. I am often asked to be positive with my posts on this forum but I see little to cheer.

Rudderless leadership, stagnant at best performance, a failed rental experiment - nothing wrong with that, it was a brave punt that has not paid off.

Customers are holding on to devices much longer now, recent research shared with the team has proven this and strikes to the heart of the core business. The 24m cycle of upgrading no longer exists! No upgrades, means no phones to buy, means no sales!

How long will the (invested) cheerleaders persist with trying to kid others boom times are around the corner???

My agenda is no more a reality than yours.

I could say the same about you. You have constantly and consistently been a cheerleader and tried to bat away any criticism or alternative view by just calling people negative.

Again if this is such a good business where are the interested parties? It has been similar conversations on here for months and and months with little to show except a dwindling price.

Just to be absolutely transparent I do not have access to insider knowledge. I have a few friends still employed at MM and their outlook is as bleak as mine but not based on any otherwise unreleased numbers or news.

And why is there no news on any buyer? How long have you been crossing your fingers and waiting now? There is no news because there is nothing worth buying. You think there is but nobody with the means has come close to even making any offer. What we are seeing is the reality. A 10p business. Expectations and hopes of 18p, 20p, 40p are fanciful in the extreme.

As you well know I was highlighting that despite week after week after week of expectation that the SP will shoot up, that fortunes will change, here we still are.

The news from MM HQ when published later this month is not going to paint a rosey picture.

Not good news.

Look at cliff edge drops in March 2022 and March 2023. I expect the same in March 2024.

Despite promises of rises by end of the week or month or year, we are still here at sub-10p.

I note Ms Vesey is no longer listed on the Leadership team.

A blow to MMAG's green credentials if there is no longer a Sustainability lead in situ.

Or a sign that the fat is being trimmed from the top of the business, as Hedge suggested could be an option a week or two back.

Ask yourself why isn’t that happening then?

The kiosks are not new. They have been around since 2020. What is the hold up in the success?

The simple and clear answer is because they don't work. They are frequently out of service. Visit your nearest one over the next 3-4 weeks and see how many time it is out of service.

The corporate recycling is nothing new or worthy of attention. They have been buying in bulk for many years, often in relatively small volumes of mostly old low value stock. It is not a silver bullet new idea.

End of year figures will be end of this month.

As I have said several times previously I would be stunned if there is much good news in there despite what spin is applied.

Absolutely on the money.

I have said multiple times it is a successful small business and one that Mr Oliver should be proud of. But trying to become a major tech business and chasing the big money is utterly fanciful and will lead to ruin.

I fear my predictions of a bloodbath in 6-8 weeks time will ring true, the current price is just the start.

What is your opinion on the other members of the leadership team? I agree with your sentiment re: Matthew Fowler, both he and Steve Oliver are top drawer.

And then look what happened after that. Look where it is now. Look where it’s been for majority of the past 18 months, despite hints, hopes and expectations of a sustained rise. We’re back at 10-12p.

Take it however you want, my friend. I've always been open and honest about my background and thoughts. You disagree with them, that's fine, you have your own motives for posting on here but please don't assume you know what my motives are.

Ask yourself why aren't MMAG pursuing those opportunities, if they are so lucrative?

As I said below, let's see the lay of the land in several weeks time. I fear the predictions of soaring prices will be ill-judged.