RE: Why the drop today16 Mar 2018 20:19
I think 6-7 senior hires have now left. Found this list on another site - Jason Nisse, Andrew Baiden, Andy Martin, Stephen Byfield and Gavin Devine. Not forgetting David Wright CEO. 3 of these have now set up their own businesses. Many of them relate to the companies bought out here.
Overall staffing levels in Newgate have fallen quite sharply here. Administration staff appear to be down by 8-9 too. Can't tell if 2 more have just joined or 1 more left. Drew Aspinall looks new. Mix and match. Weigh this up against a booming Asian business. I think a number of clients would of left with all these senior hires. New office in Leeds?
I do think they are reducing on the higher ticket cost staff. That or people are just leaving. I think if they can keep costs down then we could see a profit eventually. They appear to be expanding too.
Todays drop is the usual buyer and seller swapping shares. When this concludes price may pick up. Expect a larger buy next week. Could be directors buy after the results. See what happens. The TU was somewhat upbeat but the figures were lower than I expected given H1 performance.
I won't be selling at these prices. Seems undervalued to me.