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Interesting drop in the last few seconds of the day - wonder if it'll bounce straihgt back tomorrow.
Really?? I agree that Inchcape has strong fundamentals, however it has seriously under performed since the consolidation, and given market conditions that won't change any time soon. Now this is no longer a cheap share price it will not be accelerating anywhere fast.
Or am I alone in thinking that?? I swear every time something good happens in the auto industry the market conditions elsewhere put a halt on Inchcape's SP. Today we have Ford annoucning it's best quarter in 6 years, and the Greece ratings fiasco. How are people playing the UK general election? I must admit I'm tempted to reduce my various share holdings until we have seen a new budget from whoever ends up in power.
I've always said I would go long (prob another 18-24 months) on this so pretty sure I will continue with that - just wanted to fully understand what's happening. Plus I'm rubbish at trading over short periods of time!
I'm not a regular investor etc, but I do hold Inch. My online account forwarded me a note from Inch saying: "1 - 10 share consolidation, whereby shareholders will receive 1 new share in exchange for every 10 shares held". The glossary for my online account described consolidation as "a mandatory event in which the number of shares a shareholder owns is reduced and the nominal value increases proportionately." Does this therefore mean that all my shares will be exchanged for 1/10th of my original number - any views as to the benefit of this to shareholders?
GreatDane, Maybe I'm more bearish than I am bullish but I just don't envisage it's value rising 60% this year unless it pays divs and I don't see that given how expensive it would be following the rights issue. For me a price of 40p+ would represent a price post recession, maybe a price we'll see sometime during 2011 assuming no more shocks to the system?