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I would tread carefully and not get suckered in. Given all the recent price manipulation, option trades etc. Retail investors dont have much sight of what is going on in the background 🤔Just my opinion.
Agree lWHL...many major indices overbought and a bit of an unexpected surge in late 2023. So a bit of a correction me thinks. Why ASC and BOO alwats seem to get a pummeling is tough to take (if you are long).
I dont like it when a stock behaves like this for no reason i.e. no RNS or info in the public domain.
Its for this reason that i only invest relatively small amounts into single stocks. I still have the singe marks on fingers from previous experience!
Too much skullduggery going on atm. Its this kind of manipulation that stopped me from frequent trading on stock market. I only have a small holding left on ASC....my only remaining equity holding. Happy to hold and see what all the shenanigans unfold over next few months. GLA
I never take much notice of broker price predictions. Its the state of the nation/commentary that is more insightful. Thought DBs comments not just on asos but all 3 of their retailer picks were very insightful.
Seen it before....with Capita. Sold off parts of their business (some profitable). Led to short term spike in the SP....albeit from a very low position.
Asos is not doomed to fail. But with so many shares on loan and/or with big institutions....retail investors have no say. 'We' have no influence. In the hands of the markets, banks etc
Although no real new news today, it was always likely to take a kicking. The market is out of love with Asos atm.
It has been a shorters paradise given the heady heights it was at through the pandemic.
Think SP will stabalise around £4 mark. Short term the only thing that will move it north is a bolt from the blue...sale of a part of the business or complete takeover.
I'll keep my small holding and wait and watch
The SP is strangled atm. With the short interest, the MA/frasers options etc, its not likely to turn either way UNLESS there is a curveball in the update next week.
Only have a small stake so happy to go and ride with it. I never invest too aggresively. If it comes good then great. If not then heyhow
It is possible there is something in what you say.
SP has been in a tight range for many months now. Which is odd given the swings up and down in the past.
Seen this before with Microfocus. SP got knocked down, treaded water and then got bought out on the cheap.
Watched an interesting interview on Bloomberg with one of their guest economic gurus. When the pivot comes and rates start to fall, it doesnt necessarily mean an immediate boost to stock markets. Various explanations for that view (too long to post on here). I think the main point was that not all of the pain from the rates increase has filtered through to the consumer and corporations i.e. some of that is delayed.
A surprise on UK inflation....bit of relief. But inflation looks like it will remain sticky. Energy (oil) and labour costs going up so dont see interest rate cuts for a while. 2024 is going to be very interesting for markets. We used to have the rhetoric lower for longer...looks like the reverse now
Around the £4 mark seems to be the current state of play.
Would seem that something is going on in the background...whatever that is. Too much of a narrow range given the current market conditions/volatility. Seen it before with MCRO
Hopefully if it breaks...will be upward 🤞