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Its dropped 40% in one month.... why do you think that is?
Market doesn't believe those numbers, why do you think its getting hammered.
If they need to raise cash which is what the shorts are implying, then this wont be allowed to bounce.
The market is basically saying they think ASOS is going to need to raise capital.
Boohoo Group Plc recorded the first UK sales decline in its history as the online fashion retailer grapples with intense competition, supply-chain woes and waning pandemic consumer trends.
The fast-fashion company reported a 1% fall in its British home market and an 8% drop in overall sales in the first quarter, according to a trading update Thursday. Boohoo blamed the fall on tough comparisons with last year when people were spending more online during lockdowns.
Boohoo stuck to its guidance for the full year of low single digit revenue growth, which would be the smallest increase since its initial stock sale in 2014. Boohoo has also predicted that profitability will be much lower than its historical average.
Boohoo warned last month that sales growth may grind to a halt in the first half as customers coming out of lockdown return more clothes and the nascent US business battles with supply chain disruption and freight costs. The company, whose other brands include PrettyLittleThing and Nasty Gal, already cut its sales projections twice last year and is recovering from a labor supply scandal in 2020 which sparked governance changes.
We are ripe for a cheeky short squeeze if Fed/Nasdaq behaves and results are ok.
I'm long, its a bit of a contrarian play to be honest, as I do think high inflation will stick around for a while, but I don't need the money and happy to add if the shorts push it further.
Thanks for the advice, I realised he was talking rubbish hence asking him questions, as I knew he wouldn't know how to respond. Anyway, I blocked him.
are you short peoplepower? What levels will you take profit and what indicators other than candlesticks are you looking at?
Given how heavily everything has been shorted, across different asset classes, things could get squeezy with any surprises. I think short-term due to positioning, risk/reward is skewed to the upside,but lets see.
The market is up today on the ECB current crisis meeting, Italian bond yields have dropped, but we can still be derailed by the Fed. So god knows how today ends up.
Asset purchases during the pandemic helped support the market. There is talk that they could do this in the bond market. Which I wonder if it could be bullish for the wider equity market.
Potential for more PEPP @ trading4good.
All this EU chatter is making it difficult for the shorts to close if they wanted to before results, will be interesting to see if they try and hammer it into the close or the opposite.
ECB are having an emergency meeting today, so lets see whats said at that.
its tomorrow no? https://www.boohooplc.com/investors/financial-calendar
Market thinks ASOS doesn't have enough cash to survive the storm.
Agreed
Constructive criticism, not trying to hate on you.
Please at least justify random comments otherwise you are just wasting time posting (oversold, overbought). Say what technical indicator you are looking at otherwise whats the point.