New holding4 Apr 2024 16:18
just started buying down here, no hurry. 3 reasons to sell that are probably all in the price
recent warnings, no ****, but that really was kitchen sinking
labour govt. they don't like outsourcers but like to spend more on local services. big again nothing unknown here.
shorts not finished. good luck i will cross a few cheap ones with them. they may have momentum on the sell down with a few insto exits, but its not a fundamental short.
on the upside whilst i don't expect pe to touch it, an mbo makes sense up to around 50p, even then it will double inside 3 years.
once forced sellers finish (mkt cap too small now for many to bother running) expect liquidity to collapse. this only needs a whiff of an inline trading update to kill the bears.
be patient, this might now zip until post election but fcf yield is going to be over 50% if they can make the new numbers and sidestep the wrath of a labour govt who are saying the things today, but those of us old enough know better.