The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Definitely no major hedge funds closing their positions at present..Just the small individual private shorters buying back..l guess the hedge funds are betting that once the initial euphoria dies down the SP will start it's downwards trajectory again.
Poor trading update...Increase in debts for this year..No news of any restructuring..Still trading today as cash flow negative..Most telling of all is forecast,2024/5 increase in contracts awarded but no news of profitability for that year..I guess it means reduced losses,but no profit.
Petrofac shorting increased Monday yet again.. Europe's most shorted share..
Top 5 most shorted (see all)
PETROFAC LTD 9.5%
HARGREAVES LANSDOWN PLC 6.5%
Boohoo Group 5.2%
KINGFISHER PLC 5.2%
ASOS PLC 5.1%
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Newest additions: 37 positions disclosed on Monday 18 December Site updated Monday at 4:46 p.m.
Hedge fund increases their short position..
Top 5 most shorted (see all)
PETROFAC LTD 9.2%
HARGREAVES LANSDOWN PLC 6.5%
Boohoo Group 5.3%
ASOS PLC 5.3%
KINGFISHER PLC 5.2%
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Newest additions: 28 positions disclosed on Friday 15 December Site updated Friday at 4:46 p.m.
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No magic bullet in the trading update.. Company is now cash positive,and all on core businesses now sold.. However debt is still well over half a billion pounds..Until this is sorted no meaningful rerating of the SP..Come the year end results may see a rights issue
Massive jump in shares prices today,but it seems Petrofac's shorters are not interested in buying back their shares..They seem to sense a huge capital raise, deeply discounted of several billion extra shares,which,come Wednesday would further depress the shares..
Another increase yesterday in shorting to an astonishing....
Top 5 most shorted (see all)
PETROFAC LTD 9.1%
KINGFISHER PLC 6.6%
ASOS PLC 5.5%
Boohoo Group 5.4%
HARGREAVES LANSDOWN PLC 4.4%
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Newest additions: 24 positions disclosed on Thursday 7 December Site updated Thursday at 4:46 p.m.
Also,M&G bought a 5.33% stake just yesterday 05/12 without waiting for outcome of rights
If the SP drops to near the rights price of 267p,buy more.If it drops a small amount for nothing..However l think the SP will actually rise upon completion of rights so sell if that happens.
It's all tiny amounts..Retail investors seeing a low price buying in without realising their is a rights issue going on
Top 5 most shorted (see all)
PETROFAC LTD 8.5%
KINGFISHER PLC 6.1%
ASOS PLC 5.6%
Boohoo Group 5.5%
HARGREAVES LANSDOWN PLC 5.0%
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Newest additions: 19 positions disclosed on Tuesday 5 December Site updated Tuesday at 5:49 p.m.
The amazing thing about yesterday huge rise is that short positions actually INCREASED and is now just shy of an astonishing 8%..The rise seems to have been driven by thousands of over excited retail investors.This is not over yet....
Yesterday (30/11/23) two hedge funds increased their positions..One now has a massive near 2%..Today must be yet more shorting..People on here say they will be caught out is update is good,but even if it rose 10p they would still make huge profits as it started in the 40s
In the US recently,Dicks sporting goods, Nike and JD Sports all gave profits upgrades due to excellent trading in America..Doc is poorly managed is the real reason the company is not doing well..Every time results are poor they increase the price of the shoes,this removing more customers from the equation