Member Info for Globex

This looks to have livened up since last update. Decent daily volumes by usual standards of this share and how illiquid it is, seems to have a consistent buyer now. Price could still double and only just be on a par with NAV, leaving future profits still effectively free.

Looks like a decent scene is set, even wildcards like US natural gas prices cratering should ultimately prove a big boost to miner margins, touching on 20 year support, absolute rout.

CLSK's profitable quarter bodes well, especially including two months largely sub-$40k, fair play being the proper GAAP type too not only adjusted EBITDA smoke and mirrors, the king over 20 again, even Riot's ambitious growth plan is starting to look good to me! Plus those non-GBTC ETF inflows continue to be pretty immense.

Agree the US would brutal for him, he has it easy here. For starters imagine quarterly earnings calls being grilled by analysts attuned to the precise weaknesses. Actually that's if anyone there would even care because frankly speaking the company would be too small for proper coverage.

He talks about short sellers here but US is a different level - just look at most shorted stocks and % of stock in issue shorted, compared to here they truly do not mess around. Carson Block makes Marshall Wace look soft.

You've hit the nail on the head there Ntl101. Goodwill and trust took a battering after the delay and what remained evaporated after the consecutive misses. The market view it's a bit accident prone and that trepidation whenever results come around means this is no longer a growth story but a repair one.

This is the crux of why his age is more of an issue, than say with a Warren Buffet who is older but still performing as well as he ever did. Sorrell needs to prove to the market and maybe to himself that he wasn't just a one hit wonder with WPP, but sadly time is now against him. Anyone with enough money can buy a few digital advertisers and cobble them together, but the jury's out on whether that works as a coherent package with him as chief.

On the bright side there is a positive to his advanced years from S4's point of view - the expense account should be safe from the sort of extra-curriculars allegedly behind his acrimonious departure from WPP - doubt he's got the energy for it these days.

Yes there's no mistaking that he runs the company, everyone ultimately reports to him, he is the spokesman and is face of the company with by far the most prominent position, nit picking over formal title doesn't detract from his age being a problem.

It's a reasonable point, he must be about the oldest CEO of a UK plc and market will view this as an overhang imo. At 78 he's only a couple of years off average male UK life expectancy. Granted compared to US presidential candidates he's virtually a spring chicken!

Taking a glance at the financials would presumably be too much effort, easier to conjure up short conspiracy theories and imagine everything is fine. As btc rises these characters always seems to appear, expecting more soon saying nonsense like "MMs have no stock", "they want your shares" and about how this is going back to 300p.

Yes they have to pay something, even a token amount, otherwise it doesn't qualify as a reit, still doesn't improve the case for buying

A cut is nailed on so if buying just for dividends you may well be disappointed. They need to find £50m by August but last reported cash balance £32m. This must be the riskiest reit in the UK, I don't know of another with a higher LTV. The current yield is completely unsustainable.

ETF chatter in cryptosphere definitely dying down, probably a good thing when it means less drama. Best way to keep tabs I've found is here https://www.coinglass.com/bitcoin-etf

Handy way to cut through some of the X misdirection and see GBTC outflows slowing / offset by Blackrock/Fidelity inflows - market caps of those two already in the billions good going considering how new they are.

That is a lot of posts in 30 days on one stock. Bit annoying when you get one person steamrollering discussion on a board like this.

Looks like one of the writers at the Moulding Gazette might have gone rogue

They didn't give us a number, or even refer to job cuts directly but the biggest clue is as part of "Organisational Review" (surely a euphemism for firing) they referred to saving "20% of annual operating costs". That saving mooted to be in place from the start of FY25 - a lag I reckon due to the associated redundancies + potential one off restructuring costs but break even from next year onwards.

As far as profits go, they're essential for that market rating too - but the proper statutory type. Less so any perpetually adjusted EBITDA smoke and mirrors.

"Remember, growth is vanity, profits sanity - RIGHT"

The correct saying is *revenue* is vanity, profits sanity. Everyone wants growth. Given valuations are forward looking it's absolutely essential to have a growth story to be rated by the market. This is why US tech companies are so prized. By contrast if topline not growing at least as much as inflation that's contraction in real terms.

That's a significant drop for a bond, definitely a red flag for distress. With it being unsecured, if they did default practically speaking there wouldn't be a tangible creditor to fire the gun on administration, so the company could in theory stagger on. But the consequences for the company would be almost as disastrous in terms of ever accessing credit again.

Corz was so exceptional I don't think any lessons can be drawn from it, for every 100 bankruptcies 99 will emerge with the equity zeroed, so luck played a massive part either way. It was only saved by btc turning at just the right time, a sympathetic creditor also exposed to the equity (B Riley), and being operationally top tier despite the car crash balance sheet. Only those unique circumstances allowed creditors to be made whole, leaving enoguh for regular shareholders to retain a stake.

Argo's a different kettle of fish in every respect, we're at a different stage of the cycle, it's a mess both financially and operationally, there are no lessons to be drawn. It might have btc momentum but same can be said of every miner.

To conclude staying humble is this game key imo because when you least expect it crypto has a habit of making you look like a right old wally.

It has pretty good support around 55p, but if that breaks not much below to stop it going back to 40s.

The biggest gift Moulding could give to the company would be to resign as ceo. Install a chief with experience at delivering shareholder value. Plenty to chose from, on the food retail side alone for example poach from brilliantly run companies like Glanbia or Danone. Or even look to retailers like M&S/Sainsburys - if management can navigate that cut throat market this will be a breeze.

Then Moulding can play full time Linkedin influence/ranter/landlord, but everyone can ignore him, happy days.