Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Don't thank me, we should thank the poster who first posted about the open short positions. Coincidentally I bought another lot at GBP2.25 too but I am not counting my profits just yet. I have buy orders outstanding at lower prices because I don't think the shorters will give up so easily.
It is not criminal, it's a gift, take the gift.
I think if the shorting continues and Telit management wish to react, they may announce the commencement of a dividend or NYSE dual listing. Telit has plenty of options to send the shorters running.
How do you know they borrowed 3.2M shares.? The open short positions are already at 2.81% @ 115M = 3.2M. I would expect the open shorts to increase after today (if they don't close them).
and probably followed by more shorting, up to 2.81% according to http://shorttracker.co.uk/company/GB00B06GM726/all
The only skeleton(s) I know of are 1) The Italian VAT issue that my still be outstanding, I think it was a dispute ~EUR15M or 2) There is a belief that the IoT/M2M adoption rate is slowing down. My thoughts are that at GBP3.50, the share price was a little over priced and now have some opportunistic shorters coming to slap some reality into the share price. I am not worried at all. If you do your research into this sector and compare Telit with it's competitors you will make the right decision. I will be buying if the share price gets to my valuation.
There is something suspicious when a company announces $480M worth of contracts and short positions increase. The automotive contracts were announced just this week so it will be interesting to see the movement in short positions. Why did Telit wait until this week to announce $220M worth of automotive contracts when they had been accumulating over the past 12 months? Maybe the increasing short positions are forcing them to defend the share price. Maybe TCM are trying to make up for the profit warning. Maybe there is something more sinister going on. In the absence of any news I will be buying on the dips and watching the open short positions.
Thank you for informative post. Let me address your points: - Director selling: It was done for tax purposes as stated by the company. I would be more worried if Oozi Cats started to sell his massive holding. It is also worth nothing that Oozi took a huge loan to fund part of his acquisition. - Short selling: The shorting started with JP Morgan, Oxford Management has also joined in as of 27-Oct-15. Refer to https://www.fca.org.uk/static/documents/short-positions-daily-update.xls for more information. As to their rationale, I haven't a clue other than reports claiming a slowdown in adoption in IoT/M2M. I commend JP Morgan and Oxford for the bravery to short a company with such impressive growth. Whilst I agree TCM can be seen as expensive at GBP3.50, it doesn't warrant a short. Furthermore, the recent contract wins of $300M should serve as a reminder as to the potential of this company and the sector in general. - RNS stating delays: M2M projects have a 12-18 month lead time so delays in projects are understandable. The RNS clearly states that some of the delays were due to the decision to utilize a more recent technology. I don't see any issue with this delay and the company will still post double digit growth. Furthermore, Oozi was shocked by the market's reaction. The rest of your post was dribble and immature. Feel free to jump on board with the shorting of this stock but beware of the risks. TCM may be moving towards paying a dividend in the near future (as per their recent reclassification of the share premium reserve). There is a potential for a US exchange listing. TCM's market cap is small enough for a takeover and with an established customer base, broad M2M offering, there could be many suitors willing to make an offer. TCM has done exceptionally well and there is no evidence that the company, nor sector is slowing down. Feel free to respond with some facts, not sheep-like blah blah blah.
It seems a little odd the Oozi would continue to buy shares after taking out a massive loan to buy shares. Whilst his actions demonstrate confidence in the company, were his most recent purchases done to ensure he has a blocking stake in the company? Maybe he is aware that TCM is a potential takeover target and he wants to ensure he can block it or at least profit from it? Just a theory....
Moneymaker I was not offering you advice, I was insulting you. I do not work for DXNS. So you think that CPW don't come to rescue DXNS will need to downsize? Wow, are you trying to be funny? DXNS has survived the Global Financial Crisis whereas others have not. It is widely publicized that management took the appropriate actions during the GFC to get where they are today. Your negative sentiment towards DXNS is unfounded and you fail to understand what type of company and sector you have invested in. I will wildly assume you invested late and didn't take advantage of the share price when it was sub 20p, so you are determined to whinge at any opportunity. DXNS is in little risk of failure and is in a slowly recovering market. If you want to discuss facts, present them. Do not try to translate your opinion into fact because Homey don't play that! https://www.youtube.com/watch?v=_QhuBIkPXn0
Moneymaker The only idiot I see is you. The share price goes down and you call DXNS management idiots. I suppose if the share price goes up, then DXNS management become overnight geniuses? The share price is simply being moved by market sentiment yet you seek somebody to blame. Sell out now because I think investing is beyond your intellect.
The sentiment of the posters suggest its a foregone conclusion that EGF will be able to simply buy the minority stake. It is my understanding that any buyout will require shareholder approval and given that EGF is (possibly) making the bid they will be excluded from the vote. If my assumption is correct, will they get sufficient votes at such a low price? They may get the votes for those holding at average prices sub 70p but I doubt there are many votes there. Am I missing something here?
Airdrie Rather than the Essar Global Fund (major shareholder) diluting its shareholding to meet FTSE listing requirements, it now wants to buy the minority share holdings at a modest premium to Thursday's 60p closing price. In laymen's terms its a buyout of ESSR shares. I will be voting a clear "No" to that idea and I can't imagine who would be voting "Yes" to such a low offer. I will assume that EGF are excluded from any shareholder vote on a takeover. Any chance this will get pushed through?
French energy giant EDF is building the world's biggest photovoltaic solar power plant (143 megawatts), that has to be good news. http://www.google.com/hostednews/afp/article/ALeqM5ikNyKaURVIEQR9sW03v_I_B7e7WQ
Which stock broker is God working for or is he going solo? Financial crisis must have hit heaven too if God has to work as a stock broker to make some money.