I was happy with the results, now the Chairman's wife has bought stock so I've added. Definitely value here. SBIZ (AIM sector peer) trades on a higher PE and has a reasonable level of debt compared to AFM's significant net cash position. 250p seems like a more than realistic target.
Impressive. Don't know the share very well but I've learnt that management offer very conservative guidance. I actually shorted the stock on the previous update as there was a massive spike despite mention of cost pressures, I thought the market got carried away but obviously not. I lost some cash on the short but managed to repair some of the damage by buying stock at the open this morning and selling only a few minutes later. Clearly the business is in a very good place and TCO going bust has been a real bonus. You'd have to be brave to buy and hold after such a meteoric ascent in the share price but it may well prove the right thing to do.
There isn't much more money required. The debt funding package provides 90% of required CapEx. I think one of the reasons this stock has created value is that it has been able to raise cash through ASX rather than being dependant upon the AIM market. Previous raises have actually seen the share price go up (6th June).
Yes, I'm short. The whole sector is a car crash. Friday it was NSF, today HAT. I'm not a moral crusader but it preys on people who are hopeless with money and desperate for fast cash. The government and FCA are quite rightly cracking down on the industry. Two industry peers have gone bust, clearly this type of business is flawed. If you disagree with me, I encourage you to look at the chart. Clearly the market definitely agrees with me and vehemently disagrees with you. As someone said below, everyone holding stock in this company is sat on a loss. Why does that make me the moron and why is MTC relevant?
HAT 16% down on the day. The sector is totally uninvestable. Talk of making 100% gains only supports my position, the market is pricing it so low because it releases it's only going one way. A positive update is extremely unlikely IMO.
Have shorted this in the past as I thought it looked overpriced. Done an about turn this morning and bought in quite heavily as the price is well off highs and I appreciate it's a quality outfit with defensive properties, clearly trading very well.