Member Info for Globex

The problem is others might read posts like yours making claims about rent is going up and take an even bigger uninformed risk. I don't like to see people being misled by only being given one part of a story, whether knowingly or not.

By the way if anything I was being generous quoting the vacancy rate from interims. Q4s state occupancy had fallen further to 80%, so now the equivalent of 1 in 5 buildings by value they own is empty.

Rent going up is no use if it's more than offset by all these untenanted buildings. This is particularly precarious for such a highly indebted company when creditor demands on those same buildings continue, regardless of whether they're occupied.

MSTR is a monster there's no doubt about it, Bloomberg reporting on the phenomenon today. https://archive.is/68mNg

Mara gets a brief mention too, we discussed here ages ago how both those stocks notable for being amongst most shorted (by float percentage) in US, so it's interesting to see this might be contributing to to surge.

Similar phenomenon could unfold with Mara and maybe a couple of other miners, although clearly not at the moment when sector so unloved. Unfortunately creating shares a killer in this regard too as increasing float reduces ratio shorted.

Seems they didn't receive much large shareholder appetite to support the raise this time, with only £1.25 million being stumped up, despite sweetener of 21.1% discount on already bombed out share price.

To put that in context, if Burrows's salary has inflated this year at the same rate it did from 2022-23, the equivalent of almost half of this placing will be used to pay the salary of one man.

In addition to breaking the year end promise of "significant non-dilutive funding for the Company", this is highly embarrassing on a few levels.

10% drop during day prior to this announcement doesn't look good, at all.

Someone will also probably chip in at this point and say Diggle still holds lots of shares To them I would recommend comparing the timing of when he sold, and consider what he may have known about CiRT / PSE sales as a board member, versus what wider market knew. Food for thought.

The thing that's become crystal clear is Diggle played a blinder selling when he did.

Not all commercial property landlords have the same pricing power. There are structural issues with the office market, demand has dramatically declined across the sector in recent years, particularly for the type of lower grade out of major city buildings that RGL specialise in.

This is very different from say warehousing which is booming, or even retail which is making a bit of a comeback.

This lack of demand is why RGL's vacancy rate is so high - in last interims ERPA rate reported as 16.2%. Compare that to say British Land with a diverse mix of prime offices and retail with a reported EPRA of 4.0%.

It's so important to not take some of these posts at face value because if you believed them you'd really be left with the false impression that everything was fine here.

It does feel like a boardroom refresh is overdue, they're all bit past it now. Chair has been in same position for 8 years now which is stretching the boundaries of good governance. Tenner's background is financial rather than technological and it's become clear that experiment hasn't worked. Share price history being a series of boom and busts hasn't helped anyone's credibility.

Where it gets absurd is the FCA authorising crypto ETNs recently, but limited to institutions only, with retail restricted "due to the harm they pose". They would only have been vanilla products holding/tracking btc or similar.

https://www.londonstockexchange.com/news-article/market-news/fca-updates-position-on-cryptoasset-etns/16369941

QBT is a vehicle to take cash from unsuspecting punters who don't realise what they're looking at. I would feel sorry for them but then you take a look at the QBT board and think... some of these guys probably deserve it.

Large holders being willing to offload their shares at 24p has killed momentum unfortunately. It's will create an artificial ceiling on the share price for the foreseeable, with market is assuming those same shareholders are better placed than anyone to gauge the value of the company's future prospects.

It's tough at times especially when miners decide to be an inverse btc. I frankly did not factor in political risk either. But still believe that when positive momentum is behind the decent miners, there's no better leveraged bet on btc (as deluded as that seems on days like today).

And at least we have the ETFs propping up this charade. Without them this would have been an even more almighty rugpull 😁

True the ETFs have changed dynamic, to me it feels like we are on fast forward and I believe as a consequence we'll reach peak ATH much earlier this cycle. Fwiw originally my plan was to liquidate all my crypto stocks fully mid 25 but now believe it'll come as early as late this year or early next.

Miners are so momentum driven it's certainly possible they've now over-corrected or are getting close to, in same way they got ahead of themselves in late dec last year.

I've said this previously but if anyone was interested in buying their assets in bulk it would be easier to wait for the first default and/or covenant breach. Once the domino effect from that kicks in and they're on their knees, the hypothetical buyer could either lowball or better yet pick up unencumbered assets out of administration.

CPI headline relatively neutral, no drama at least might provide some respite. Mulling whether to re-enter the 50% clsk I ditched but to be honest would prefer $12-14 area. Better value elsewhere at the moment imo, Mara looks choice. MSTR a god tier stock this year and good counterweight to miner lags.

Cumulative losses on balance sheet up to last results is £3.75m

This is an insanely top heavy organisation. Those prestigious job titles and sheer volume of them relative to rest of the company's size is actually laughable. Surely better to divert funds towards scientists and product development or some proper clinical trials. They could easily cut that top team in half, but that would also put an end to the Burrows gravy train.

Going forward it looks like one way or another US politics could now be a big driver, bit annoying really. At least btc doesn't care. The proposed tax changes do seem a p*ss take to me. Most of these miners did well even to survive through 2022, and after all this time it's only really now we're entering a profitability phase.

I was going to say I'd consider buying Argo if it went below 5p, but that would still be a ~$30m market cap, then you come to question of what are you getting for that valuation. Sadly the answer is just a lot of debt and some clapped out machines with uncertainty about whether they'll even have a place to put them after December.

Not just tacit approval of Edison report, they paid for it and authorised its publication. The clues have been there about questionable management all along, before today's RNS for those willing to listen. Unfortunately for shareholders it's now entering that doom loop scenario I mentioned where the lower the price of the equity, the less they can practically raise and it fast becomes existential.