Member Info for fleccy

"Dan, vod shares have halved in value since nick reed took over, ok i know it's all very complex, but your constant backing this guy is very strange"

Nick Read might shoulder some of the blame, but he can't be blamed for the market treatment of the sector in general. As I've mentioned in previous posts, there's a contradiction between the narrative the market is projecting on the sector, and the private equity Billions being invested directly in Fibre FTTP and mast infrastructure through partnerships and buyouts.
The whole sector valuations are low, and consistently talked down by various vested interest market and media commentators, but I take a different view and see Telecoms as an essential industry with huge potential.

Today's volume was 416,342,503. Less than 84 Million off half a Billion shares traded:

On Exchange volume 53,001,158
Off Book volume 364,298,656

More Big Off Book trades today:

tradeTime - currency - price - volume - tradeValue - - - type
15:43:27 - - - GBX - - - - - 95 - 81594487 - 77514762.65 - Off-Book
15:42:55 - - - GBX - - - - - 95 - 81594487 - 77514762.65- Off-Book
15:28:30 - - - GBX - - - - - 95 - 42195020 - 40085269 - - - Off-Book
15:39:07 - - - GBX - - - - - 95 - 42195020 - 40085269 - - - Off-Book
15:27:38 - - - GBX- - - - 0.95 - 42195020 - 400852.69 - - - Off-Book

Every time the price tried to break above 95p, this afternoon, it was knocked down, yet big trades were going through Off Book.

Looks as though the divi hunters are pushing the price up. Just touched 95p, so might see it close in the Black today.

"Just placed a buy order for tomorrow at 90p"

Based on the current exchange rate, the dividend would be 3.88p if it was paid tomorrow. The current price is 94.88p, so you'll only gain 1.0194p per share taking stamp duty into account. Because the share price is so low, there could be a lot of resistance around 90p, so you might not get your buy and you'd miss out on the dividend.
If you're philosophical about it, you might decide to let the Universe decide for you, either way, but it's not a massive gain buying at 90p tomorrow if you really were interested in buying or adding more Vodafone.

"You are correct, time and time again it is misquoted on here as 4.5p. It is 4.5 euro cents and we won't know the conversion exchange rate till nearer the PAYMENT date"

Narcus, the policy of using the average exchange rate over the 4 to 5 days leading up to the payment date isn't a new policy; Anyone who doesn't realise such things shouldn't be investing in the first place. Also no one should influenced invest based solely on posts on sites like this, they should only trade when they've done their own research and understand the risks.

"At least try & talk in a way that most on here understand. I can't make a lot of sense out of your latest posts, & I suspect neither you, or anybody else on here can. Talking in tongues?"

That's why I supplied the links, so that people can read it for themselves.

"What Is Bid and Ask?
The term "bid and ask" (also known as "bid and offer") refers to a two-way price quotation that indicates the best potential price at which a security can be sold and bought at a given point in time. The bid price represents the maximum price that a buyer is willing to pay for a share of stock or other security. The ask price represents the minimum price that a seller is willing to take for that same security. A trade or transaction occurs when a buyer in the market is willing to pay the best offer available—or is willing to sell at the highest bid.
The difference between bid and ask prices, or the spread, is a key indicator of the liquidity of the asset. In general, the smaller the spread, the better the liquidity."

https://www.investopedia.com/terms/b/bid-and-ask.asp

"A bid-ask spread is the amount by which the ask price exceeds the bid price for an asset in the market. The bid-ask spread is essentially the difference between the highest price that a buyer is willing to pay for an asset and the lowest price that a seller is willing to accept.
An individual looking to sell will receive the bid price while one looking to buy will pay the ask price."

https://www.investopedia.com/terms/b/bid-askspread.asp

My understanding is that Off Book trades are negotiated trades and can be at any price, but usually based on the Exchange price at the time of the trade, rather than the Bid Ask spread prices.

"Buys or sells though?"

Bid/Ask price doesn't apply to Off Book Trades, they're Off Exchange.

Today was quite a high-volume day, with a couple of large Off-Book trades.

Time -----currency - price- - - volume - - -tradeValue - type
14:43:43 GBX - - - - - 96.09 - - 47667853 - 45804039.95 - Off-Book
14:43:43 GBX - - - - - 96.09 - - 47667853 - 45804039.95 - Off-Book

Not sure if one of the above are a duplicate, but today's volume so far is 196,105,460. Apart from results day, the daily volumes are around 45 to 55 million shares traded, On Exchange, with some days above that up to about 69 million. When I downloaded the data at 17:00, there were 122,575,601 Off Book trades and 45,848,809 on Exchange trades.

"but I am not going to do a fleccy, as I can see the elephant in the room, but I think he will eventually go away to his graveyard, were he belongs?"

What did I ever do to you Daniel. prompting you to suggest I belong in a graveyard?

"If they are buying back shares they must be stupid. They need cash."

Obviously, they disagree with you.

" a big cash raise in the region of say £30 billion at about 60p/share I might be tempted to invest..I suppose all will become clear in the next 12 months"

Drean on, about as likely as an asteroid hitting Earth.

Surprised Vin Diesel hasn't started posting on here. The de-ramping is coming Fast and Furious at the moment

"The company may need to consider a rights issue to stabilise the balance sheet possibly? Aimho!"

The evidence would suggest otherwise, why would they buy back shares to counteract dilution, due to maturity of the MCB's, if they're considering a rights issue? They may as well create the shares, forget about buybacks and just allow the dilution. A Rights issue is highly unlikely in my honest opinion.

"The debt is an issue."

Not as far as I can tell, the assets vs liabilities mean the breakup value would far exceed the current market cap, so should private equity decide to make a play they would have to table an offer getting on for double the current stock price. As far as the debt's concerned. Irrespective of what you say Vodafone have options to deal with short term debt shocks.
We'll have to agree to disagree then, as nothing you've stated persuades me the current price isn't a bargain. Time will tell which one of us is right, but since the price is rock bottom, if I was a betting man, the balance of probabilities would suggest the price is more likely to trend upward from here.

I'm a regular viewer of CNBC and over the last month I've noticed many of the guests are starting to talk up UK stocks. Reading between the lines, it appears sentiment is changing, and UK stocks may be coming back into vogue.

"Fleccy is asking how is not a safe place to park money. I would suggest the weak balance sheet exposes VOD to financial risks above comfortable levels should we see a protracted period of tough economic conditions."

The debt isn't an issue, due to the majority of the Bond maturity dates being in the 2030 to 2040 decade, so why do you keep banging on about the debt?
Spinning off the towers is neither negative nor positive, since Vodafone will remain as a partner in the new company, and benefit from revenue associated with other customers utilising the assets, with any future expansion costs shared between the partners. Personally, I hate debt and have strived all my life to keep my personal debt to a minimum, but Telecom companies have always maintained high debt levels, even when they've had opportunities to reduce debt, I can only guess why.

"try telling that to people who has money in these four companies that were much bigger"

moniman, Vodafone isn't a manufacturer like GM; It also isn't a bank like Lehman and Washington mutual, who both failed due to subprime. Worldcom inflated its revenues and was guilty of accounting fraud, which eventually caught up with them, are you comparing Nick Read with Bernie Ebbers?
Not sure why you try and scare holders out of their investment in Vodafone using irrelevant examples. If you want to look at an example of retail shareholders being shafted by vested interest market players, look at Sirius Minerals, fortunately Vodafone's a bit too big to fall victim to the same tactic of removing funding to force a collapse.
The de-ramping appears to be ratcheting up on here, probably means the share price is on cusp of big gains in the near future.

"Exactly correct, astonishing that people here are not concerned."

What's the point of being concerned? Vodafone isn't at risk of going bust, so the lower the price, the higher the upward buying pressure to resist further drops. Common sense dictates that Vodafone would buy back shares at an ever-increasing rate should the share price drop to really low levels. Imagine if Vodafone dropped to 50p a share, two shares could be purchased for just over £1, so Vodafone could buy Billions of shares per year with free cash flow alone, and it would probably make sense to borrow for buybacks should the price go low enough. For the above reasons, I'm not at all concerned.

"Hope you are now felling better having got that off your chest"

I know I'm falling into the same trap, but the thread title is aimed at anyone who responds to Iron****. Enough said