Member Info for Globex

I'm not sure why they've done this to be honest CB, but I reckon you're right there on HPC build out, it's so capital intensive and they are expanding quite aggressively. Only thing is for that I thought they would have had sufficient cashflow from CoreWeave deal.

Shows you can never really tell with these miners, but to fair they've not put a foot wrong otherwise this year. Looking at plus side they're unsecured so much less scary than the debt they paid off recently, and I guess the fact there are lenders willing to fund them in itself indicates a bit of a turnaround from last year.

Corz now with new convertible notes, I definitely jinxed that lol you have to laugh really.

Shaping up to be a mediocre summer across miner land. Maybe it won't be so bad in the medium term to have all this news chucked out there while market subdued anyway, chance to reload for the brave, then perhaps a clean sheet as we move into what should be a more decisive phase of cycle later year.

Armistice are definitely a wildcard, Argo did well getting them to invest when otherwise pretty much facing the firing squad.

$7.5bn AUM does put it into perspective, about 1% of Argo's entire market cap, let alone a portion of it, so maybe this just a yolo play for them.

Tough to really know what they were thinking but as Chaebol says IIs buy terrible companies all the time, so likely just that case of occam's razor. I honestly think half of us posting here know more about this space than some of these so called pros.

Desperate times, "Supply Chain Excellence Awards" sounds like something from the Office.

These awards are paid for PR, they're not real.

Hmm yeah Mara has either gone full Saylor or full r*tarded, not sure which? Not for first time imo they should have taken notes from Corz, and how anticipation of their convertible notes being repaid was a major catalyst, maybe then Mara execs would realise issuing notes might have opposite effect.

Having said all that I like Mara at this price and Clsk too, happy to look past all their sins at these prices, actually most in sector look cheap atm, time to catch a few falling swords.

Agree with all of that Magnum, apart from MM as chairman. Outside of the company he's a bit of a laughing stock, needs someone with more gravitas who understands proper governance.

If MM must stay, better he has a face saving but powerless operations type role with a fancy title, something like Chief AI Metaverse Executive, which really involves hanging around with the Ingenuity crew to chat b*llocks all day about where they'll waste money next and how many emojis they'll include on their next Linkendin post.

A pre-planned administration here might seem a remote possibility at the moment, but if you are conspiratorially minded there are a few weird aspects to the way the company is run.

Main riddle is why they seemed so relaxed about making a loss year after year. There are big debts due in 2026 that would be terminal if they couldn't be repaid. The company is properly mature now at 20 years old, far from a startup where losses to be expected. With group revenue declining last year they can't even claim to be sacrificing bottom line for growth any more.

JakeSnake

Lol, get a grip. What rumours exactly have I spread? And where have I been dishonest? This is a total first for me, nobody has ever questioned my honesty.

Absolute mystery why you feel the need to reply to every post I make on here. All because I stated my opinion on the stock, and reasons for the trade I made, that's what these boards should be about.

But every time I've posted on this board this week now you've replied to me - only my posts - in an increasingly agitated state each time haha. Ignoring all the b*llocks all across this website, instead focusing on my take, getting more and more angry each time.

In fact it looks like every post you've ever made on lse is in reply to me lol!

Me neither, tbh couldn't even bring myself to login to my trading account Monday, one those moments when things can go one of two ways. Impressed (and relieved) with btc bounce.

ETF outflows this week have been pretty minimal proportionately, which I reckon this cycle has helped dampen down losses. Maybe the more mature holders of those less inclined to panic. Coupled with lack of supply gives us a good foundation when wider market recovers.

I view this as a bit of a loss to the public markets. It's a very strong, reliable and highly cash generative business with an solid reputation, FTSE will be poorer for losing it. Timing wise it's clear we're now past the bottom of the cycle and this could have had many more years of growth as a plc, the buyer has done well to strike when they did.

Having said all that I'll still grudgingly accept the deal, it probably would have taken some years to get back to this share price organically. The share price has been stagnating for a few years now, at least this unlocks a degree of future value today.

Ultimately the founders with their majority holding always the ones calling the shots here, everyone else just along for the ride. They had a vested interest, likely motivated by wanting to get ahead of future increases to capital gains tax. The private offering clearly engineered around them.

Not really, nothing has ended, is still trading - just going private.

As for the question about why you'd invest in a private company, same reason anyone buys shares in any company, whether plc or not: the belief the shares can be sold in the future at a higher price.

The II I mentioned that supported this plan has fronted a few million quid at 10p a share and now own half the company, they seem to have decent conviction on that trade. The illiquid nature of private companies means they're not for everyone, but the company are offering a facility to trade shares after it delists.

I would say though if you're squeamish about owning shares in private companies, which seems to be the case from your posts, stick to plcs. In the meantime I'll be seeing what happens to the share price between now and 21st August.

Difference is this time sales have declined after the rebrand - not prior to.

If we believe the company's excuse that sales drop can be blamed on the rebrand, it must follow that so far the rebrand has been a failure, so far.

It's not universal, hence qualifiers "probably" / "tend to be".

Everyone involved in flotations - from brokers to shareholders to banks - have a clear vested interest in getting the max possible price, so as Graham suggests, very reasonably imo, caution needed.

There are brilliant companies that IPO at reasonable prices. But they're pretty scarce these days.

There's a reason why Benjamin Graham suggested IPO = "It's Probably Overpriced".

The price hasn't been formally set yet, anything between now and actual IPO is just PR. Plus IPOs tend to be overpriced - just look at THG.

Sorrell will be seeing the plus side to this latest market drama, means more material for him to pontificate about in his next article

Lol had to be more a full hit rather than microdose. These guys must be the first II to disclose a holding for absolutely years now. Maybe they though they were being clever with a contrarian bet that nobody else had spotted, sadly for them plenty of people are aware of it but quickly noped the heck out of there already for good reason.

Very short extension to Friday, can't be coincidence that's also final results day, now has appearance of deal being contingent on those numbers

Deadline 5pm today so seems to be going to wire. Could just be they'll extend again but for that you'd think they'd be in a position to announce a extension on market open. One way or another news soon.

To be honest the way the markets are I've warmed to this deal, seeing Wood today a reminder of what can happen when bidder rugpulls. Now hope they get it done.

It's been a very messy week, doesn't feel like only a week ago we were sitting on $70k.

At least this time it doesn't seem crypto specific, even megacaps like amzn/nvda now 15-20% off peaks. Potential cracks appearing in US economy coupled with a few big earnings misses seem to have created bit of havoc, and when panic creeps in risk assets tend to be on the frontline for punishment. Let's hope it all blows over eh.