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From the Guardian......
"Britain is expected to become the first western country to authorise a coronavirus vaccine, raising the prospect of immunisations beginning weeks ahead of the rest of Europe.
The UK medicines regulator is set to license the Pfizer/BioNTech vaccine for emergency use within days, and possibly as soon as Wednesday. Britain has ordered 40m doses, of which 10m are expected to be available this year."
Yes the technicals are elevated.......but the stock is being rerated to what level remains to bee seen.....its been oversold for years...so it is fair to say it could quite easily be overbought for the same period,,,,,,the key reversal to the downtrend was breaking 96p,,,,,sentiment and momentum has changed ......trade or short this at your peril.....imho
VMUK is valued at £2 billion with total assets of 90 billion and is loss making.
Metro has total assets of 22 billion with a valuation of just under 200m.
Put metro on a similar ratio and you have a mkt cap of 500m or £3 a share!
Extract from the times article on Saturday....a deal to be done ?
"Lenders including Natwest, Lloyds and Metro Bank are interested in buying Sainsbury’s Bank from its supermarket parent.
An acquisition of the bank, which has two million customers, could form part of a jigsaw of potential deals that would make a decisive impact on Britain’s banking landscape."
So what you are saying is .....there will be a rights issue at a price that is less than the price the CEO recently paid for his shares?...why do you think they have the new deal maker on board?.....one thing bankers are good at is making deals.....
Sainsbury paid 260m in 2013 for a 50% stake with lloyds which valued the bank at £520 m 7 years ago.....whats todays valuation? surely not less now they have around 2 million customers......add on metros customer base and you could be looking at a joint valuation of say 1 billion or £6 per share.......for the combined companies......food for thought with the current share price of 86p........imho
Virgin money has a mkt cap valuation of over 12 times that of metro at 1.5 billion...metro 120m
Virgin money has a total assests valuation of 90 billion....metro has a total assets valuation of 22 billion
Metro is loss making so is virgin!
To put them on a similar ratio of mkt cap to total assets for a rough comparable valuation...... values metro at £350 to £400m or over £2.00 a share at covid levels.