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Nofear
They're all so underwater it makes my 40% seem like a bad day.
I'm not sure about anyone else but this gives me a crumb of comfort, because even if they're prepared to take losses eventually, you would think it would have to be more than current worth.
Nofear
I'm not technical at all but just following the pattern after August's tanking, it didn't level off for month ( Sept), and then even dipped lower again (15s) before finally starting an upward move November ish ( when sharehead started telling us this was the next Amazon).
Given that this is solely in the hands of macro/traders for the time being, I'm not expecting a positive move until possibly May in anticipation of the June strategy update.
Obviously subject to usual caveats, brokers, IIs, another hack, Oliver Shah!!!
So why not a brief update on current trading seeing we're a quarter in?
Surely if it was half decent they would throw in a couple of sentences.
We have no idea how current trading is since October except the paragraphs about Alsa and NA in the 7th Feb RNS.
Are we not owed that at the least?
Essentially there have been 3 profit warnings of sorts now starting in October ( 4 if you include June in 22 when this all seemed to start).
Only shred of comfort is Cosmens adding and Pokerchips relaxed view!!
This ain't going to £2 Mary without a bid.
The board can't be trusted again.
They've tried to pull the wool over our eyes but the markets seen through it.
Trying to make out all is good upgrading their guidance whilst just missing their latest having only reiterated it a few months ago, after year end.
And they're sneakily pushed back fcf to 25.
135 and I'm out with a loss here. No reason to hold.
They must have realised that yesterday's announcement was another let down, so I really don't get why they didn't offer a brief update on how current trading is. Unless of course we're in for further disappointment when that is eventually updated.
And now I suspect even half decent guidance or outlook will be brushed off by the market, taken with a pinch of salt, until the actual figures are confirmed and agreed by auditors ( for the current year).
And not forgetting further write downs too.
Personally I'm now relying on macro, a rally with any interest rate cuts, and an external party to pay well for NA.
Like you mavswf I'm well overweight and well underwater, but I've only added here, I'm not trading in and out, but it's becoming really concerning when you simply don't trust any guidance or targets stated by the board.
I have to say though yesterday and this morning there seemed to be a lot of strength in the price action which I wondering why.
Total 5h1t show this
Just add further, not so sure about these assumptions about azvalor now, I know they're Spanish but they also have a large holding in PFC accross 2 funds in excess of 25% in total. So possibly Cosmens know them and would vote accordingly but I don't think they're his puppet.
Xxxaccountant
Makes sense what you say, so you're more or less suggesting a disagreement of sorts between say Cosmen and Garat/Stamp in terns of RI / strategy ?
Besides an RI would have made more sense a year ago, not at this price unless it was significantly dilutive. And it's not as if they necessarily need cash given the cash balance and operating cashflow.
I think as pokerchips suggested today that the reason for not tanking today is we are approaching q2 and essentially 23 is done now, it's about current and forward looking, whereas the profit warning in October was bang during last financial year.
So you're also suggesting what if they add another 1%?
Pokerchips
Although it's a liability its only say 95 ÷ say 8 years for the year and each year thereafter, right?
Not sure I understand your point there, are you just saying eps will be negatively affected?
I'm just seeing as an expense which hopefully will be insignificant if and when earning start to grow again.