It really is just the same daily cycle. Down at low 26, up to the highs, back into the 25s I imagine. Followed it today and bought this morning, sold just now and will see if I buy in the 25s again. I was buying in tranches but decided to simply have fun with the last tranche left!
Personally I think an RI is off the table because of the crushed SP. Who knows...
That said, if they simply raised the current MCAP, would you be happy to fork out another 27p or whatever per share for a company with the order book and liquidity to make it happen in place? So 54p for a share in that company sounds decent enough and if you don't have the shares now, you don't get the opportunity. (Bearing in mind this all started from a much higher SP).
I think it will be a mute update really. Probably chugging along to what they have already stated. It's really a flip of a coin how the market reacts to that. They should have the cash to do some more buyback too. If's it's still in the 320's I'd expect a re-rate upwards. However I think this move has been made by a few lingering shorts that want to clear down before the results ... we should see if this gets into the 330's this afternoon.
Not really for this board but it was ranging 340-370 which was already low. Since CTO exercised options and the brief Lynch sell off it has been brought down by low volume. Very much like a lot of tickers right now. Maybe I have it completely wrong but low 320s just looked like it was dragged down in the hope they can buy back a lot more shares from 'relief' sellers on the way back up. Dark truly is a strange one.
Looks like SYNT now being dragged by low volume as well. Sold out of CPI on the RBC downgrade with a view to buying back in but might well use the money on this one. Think it has better prospects frankly!
Well no-one's picking up on it being nothing but an investment so maybe that's all it is after all. Is the period over in terms of the takeover code as there's been no 8.5 from Shore today either?
Yep ... who knows why Lancashire seems to be the hub ... suppose it goes back to Brightstar and the breakouts from network carriers like SHP who got into the used mobile game.
Could well be an interesting week as that move will generate trade press interest.
Mission labs was the smartagent thing. Didn't know they'd sold it. Interesting person to step in and lead an MBO ... MMAG could use his techie wizardry/know how.
Hedge ... I don't think there's much in Cannacord ... maybe they are simply not happy with direction of sale process and management expectations etc.
What's interesting is the 1m shares to Damian. So maybe he's heard an insurer is lurking ...? He's involved in the smartagent stuff so will be well connected. MMAG has the devices insurers love in terms of VAT margin consumer.
That's funny Walkietalkie ... DARK is where my money is! Got a feeling we won't be waiting till Friday though. Hopefully got it right as that one will sting if it goes the other way.
I haven't done anything this time around. I believe it will but right now just have capital tied up elsewhere.
That Shell business will be different. I also look at likes of Croda / BASF / Elementis just because for some reason it doesn't matter in which sector they operate, the chemicals industry seems to be fairly representative across the board. SYNT are set up ok for a longer demand trough in my opinion so will simply take a little longer for margin/cash generation to re-appear and SP to grow.
Hedge ... not sure what you are going on about in terms of the free float. Just take a look at the 8.3 forms and it will give you the picture. Just the reductions from BT's pull away put 8% into the free float alone between premier, shroeders and Cannacord.
Directors/employees at 14.5%
Over 1% holders amounts to about 43% so how do you get to a 5% free float.
I'm all for being positive as have rather a nice holding on these but the reality is the money walked away after the BT thing and If Cannacord are still dropping then there's no buyer closing in just yet.
It may be months away, but this will come good and into the 20's.
I think that's wishful thinking. I reckon they will try and keep it down at this level for a while to optimise what they could recover on a campaign up to 40p or more. I think my purchases set for 27 and 26p will still be triggered this week ... but then who knows!!
Pokerchips ... as we all know, the post EBIT impairments can often be non-cash. I am no LTH of this share but when things got into the teens it seemed like an opportunity. The news then made it clear that no immediate threat was imminent and that they have time to address the financing shortfall. It also looks like a much lower figure than was being touted about.
I sold over Xmas and started buying again last week. On no volume maybe this will continue to drop a bit more but the way I see it is that it's simply a waiting game to see which short breaks ranks and starts to clear. Looks like even a few million will bump the price significantly higher.
It certainly has someone's attention today!
Yes you might be right Hedge. I'm more looking at where I exit as I have less faith in the 50p. It's a pretty easy double and I'll move on.
50p with seasoned MD/CFO/CTO structure I'd have more faith in. If you look at Recommerce Group, whilst they are not listed, they have gone through a few funding rounds and the investors have insisted on placing 'seasoned' players at the forefront of the business and the old owners a more backseat role but with a 'credible' title.
By staying at the business forefront Oliver and the tech guy, have likely built an excessive middle management structure of 'yes' people who keep the business 'cosy'. If they really wanted to push the envelope revenue wise, they'd have put themselves into 'strategic' roles and got in some proven scale makers. Certainly not 'comfortable'.
For this reason it's why I continue to define it as a nice 'lifestyle' business that timed an IPO and it's messaging to perfection.
Not sure how much Shell's impairment on their chemicals business this morning should be read across into this. Long term I still think this is a good investment but starting to wonder if the short term might still have some surprises. Was feeling quite content till I saw that news this morning which again just mentioned 'macro' factors.
Hedge…been on the other side of the fence before and an MBO at 20-28 could be done .An EQ company would structure something where current Iis could remain with blood in game but take haircut to introduce % holding for EQT in newco. They then quickly put in a cash raise to flush out a few holders and increase their own.
Also other ways it could be done but bottom line is PIs take the 20p or whatever it is.
Completely separately, the Red Sea issue will likely mean constraint on a lot of new supply. Whilst it makes capturing the product hard, they will see some robustness on sales and reduced price attrition in the short/medium term.
Interesting seeing that info on Millenium and British Land…for several reasons that’s an amateur hour increase in short. Too long for this chat board. The problem is, it’s not their money and you’d assume they have a change in fund managers or like that’s trying to prove their metal and taking some very significant risk. In the past I used to see them follow MW quite closely. If they are not in cohort with a peer building long, then could hurt them.
Also from memory I think they may have been shorting network international quite a bit … and then the offer came in.
On an exchange where the trading volume is failing its constituents, there’s a lot easier prey than risking it in the US!
I'm not sure I get it but anyway the window trade here I do get. Eventually it has to pop one way or the other though. Personally I think when/if there is confirmation on the forecast EBITDA mentioned last year, that should shift the dial as WalkieT already mentioned. I'm hoping it will get to 300+ level this year but who knows....world's a messed up place at the moment.
I'd also add that GLG reduced under the threshold some time back too. So serious players are leaving. What you are left with is the high risk/big reward merchants playing with funds which allow them that luxury. Looks like more needs to be borrowed and pumped in to maintain downward pressure. Certainly makes things interesting and everyone's in for the high risk/big reward ride on either side of the fence!!
I'd have thought we'd get a Q2 update in the next week or two.
Without volume this stock is too easily 'handled'. One day an offer will hit the table ... but for now it seems it just trades in a 30p or so window and that's just about to be moved downwards!