The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
That's true, January update is key
Webba - auditors definitely aren't 10 a penny, after the big 4 the reputation drops significantly, once you get down to PKF the experience in multination listed audits really drops , there's no arguing about that.
Also I don't understand why you think this will be a 1 year appointment. I've never seen an auditor appointed for just 1 year. 5 years is really the minimum.
Even if it is 2% down on yesterdays close I wouldn't class this as 'heading south'. Baffled!
Are you joking - it's 0.1% down on yesterdays close.
With that been said, I still think the big 4 still being happy to be associated with boohoo is positive and gives me hope that EY will be appointed.
No, KPMG will be providing non statutory audit services through this piece of work, so much more an advisory role. My understanding is that the statutory auditors cant provide other services due to independence rules, so if anything I think it rules KPMG out.
Yes... it won't be KPMG.
After selling on results day I've been waiting for the right time to buy back in. This seems like it.
It's really worrying how little some people on this board know about financial markets, the audit process, and even what an unqualified audit opinion means.
Audit tenders happen, it's not surprising. We don't know if PwC were invited to the tinder or if they were the ones who made the decision to step back. Either way, with the changes the BoD are making to their own corporate governance this seems a perfectly reasonable time to change auditors.
@razor terrible call. Opens 3% down.
Cinemas aren't the glue that holds the world economy together, but I wouldn't be surprised if a rescue package was on its way.
Thanks - appreciate hearing others opinions
A 20 minute period that sees a 5% top then immediate recovery - I am lost at what is going on.
I always planned to sell on results day, I didn't get my target price but was happy to cash in for a significant profit. I believe the fundamentals are still strong and I want to be in on this share, but looking for a buying opportunity now feels like catching a falling knife. There's money to be made, but how low can this go? If you asked me earlier today I thought 355p would see strong support, now I just don't know. What are peoples opinions?
You would have had to be lightening quick to sell at £4, the price looked like it was shooting up from 8:00-8:05 and then it came back to £3.8 just as quick!
I think it'll test £4 again today
The rule only seems to be enforced when the BoD are hiding bad news. Not delaying the release of awesome news like today!
I like that they have put their full year forecast to only 28%-32% (even though it could easily be 45%), giving themselves plenty of space to increase full year forecast in the coming months/over Christmas when the success continues.
@furion - this tactic requires you to 1) know when the price is at its peak so you can sell, 2) know when the price is at the bottom so you know when to buy back in. If you have a 100% guaranteed way to predicted this you'd be able to become a millionaire very quickly.
Trading strategies are very personal depending on your own circumstances and risk profile. No one can tell you what's the best thing to do. Do your own research, set your targets, be patient, see the rewards.
Haha @Andy yes quite right
Looks like the guardian reports are busy this morning. It's inevitable that they'll put a negative article out on Boohoo today or over the weekend but I can't see it effect the SP at all.
I'd guess the initial draft of the report was presented on 15th like they said it would be and the full response was "submitted" and approved by the board yesterday, allowing the RNS today.