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I suspect they might try the same thing again.
Basically shorting their own company.
The only way I might get back in is if it really tanks to ridiculous levels and seems a bargain.
As George W. Bush said "fool me once, shame on — shame on you. Fool me — you can't get fooled again.”
The hmmm.... bit may be what Marketwatch pointed out.
"However, guidance for adjusted earnings before interest, taxes, depreciation and amortization--which strips out exceptional and other one-off items--remains unchanged in the range of flat to 0.05%"
https://www.marketwatch.com/story/watches-of-switzerland-1h-revenue-rose-on-u-s-robust-sales-lifts-fy-2023-views-271667980204
"Whats the plan if it goes up on the results?" Be annoyed at myself. :)
I bought a small tranche back in May at 823p intended a a quick trade looking for a recovery to c1000p but it didn't quite get there and I ended up holding well into a loss for a while.
I'll see how it looks tomorrow, I might just hold for a while more.
I'm trying to work out how Paypoint are financing this - looks like it's by issuing new shares. Does that effectively mean dilution for existing PayPoint shareholders?
Can anyone offer a simple explanation of how this takeover works?
Held longer than I realised - since 2013!
If you look at the chart (LSE doesn't even go back that far) it was a nice steady rise till 2018 but has been going nowhere after that.
I've held these for several frustrating years. Had them since 127p and seen them above 500p a few times.
Never thought they'd end up stuck down at these levels.
Is the Burford's sort of thing?
https://www.lse.co.uk/rns/RKH/request-by-italy-for-annulment-of-icsid-award-830p616quuyth34.html
It was a comment on Malcy's Blog that made me wonder.
"As I see it there are a number of options available to Rockhopper in this matter. As I understand it there is a basic secondary market in the award by which the company could pass over all or part of the ‘win’ in return for an immediate payment, a solution which has some appeal but may be overly punishing. Indeed, sometimes people can ‘part sell’ or insure awards made to them. "
I bought my first tranche at 157.5p after the drop, as I figured they had got things sorted out and it should recover.
Anyone who held them before the problems would be rightly annoyed with Yu. They're still a long way from recovering to anywhere near pre-drop levels.
If it hadn't happened in 2018 it would have been an even bigger problem the longer it went on.
Although the FCA dropped the investigation, there were accounting problems that caused the fall.
Yu owned up to them.
https://www.proactiveinvestors.co.uk/companies/news/207753/y-group-shocker-as-energy-supplier-slashes-full-year-profit-guidance-to-reflect-accounting-issues-207753.html
I think Cazoo will be gone well before that.
They were supposed to be a disruptor but the conventional dealers they were supposed to be disrupting are posting record profits.
Cinch can do it better as they have the market sewn up via WBAC & BCA.