Member Info for joseywales

HedgeHogarth, you cannot really compare Blancco. Blancco supports the aftermarket/asset recovery industry with the software solutions for data removal and OS flash etc. Spun out of Regenersis and it was the bit they kept when they sold the 'repair' business to an American outfit based out of Salt Lake. Blancco's tech offering may have extended to white label trade-in platforms but I don't know. I believe likes of Blackbelt do.

Blancco do not handle the assets and hence you cannot come close to comparing valuation metrics. They are a software company.

MMAG sits in the space of Rebuy in DE and Recommerce in FR. Rebuy is probably the one which has the highest 'valuation'. The issue is these business are cash heavy and you need to look at the valuations the likes of Gazelle (US), Fonebank (UK) and Mazuma (UK) achieved to get a better picture of reality. I'm absolutely on the side of currently undervalued ... however 20/25p target seems sound to me, not the crazy money.

What was the similar business that sold for £170m HedgeHogarth?

I've jumped back into this today since £15m MCAP is an overdone reaction and in my view way underplays the value which I think should be more in the £25-30m region.

As I've said before on this board, they really need significant B2B both on contracted trade-in and device fill. They've done a great job on consumer but at significant cost and the issue with valuation is that ultimately there is only so much you can do to 'soften' acquisition cost at consumer level before they turn to alternatives. Simply no significant loyalty/tie in.

Ignore the naysayers LOTM.

Commentary on investment psychology is dangerous since there's always a flipside to the coin. In this instance its the 'just in case' investor who has no faith in the management of the company yet keeps hold of their holding.

As I write it looks like SYNT is on the drop again so hope you get the fill your boots for another round.

You're right, volume mildly increases and they just can't hold the SP.

Down the pub already.

Trade volume just disappeared this PM ... will grab some again at closing if in the 19's. This share is nothing but a gamble but I like the upside ... particularly if it's a metro style deal or maybe some other divestment of % holding in a project or two.

Do they have a strong presence in Germany?

He/she called it! Lot-13 does it again.

US jobs data not great ... guessing higher for longer will be the rates messaging, unless inflation readings contradict the news flow.

Whilst what you are doing makes sense, on this occasion with the news flow due today and next week I'd have kept core to hedge against climb into the 190's and resistance forming. A change in trade volumes (generally across equities) will change this particular SP trend a lot in my opinion.

I'm enjoying reading your trade action - at least you're slowly chipping away at your average. I'm too into the PFC game at the moment and wondering what's happening with WINE right now.

Decent amount of buys just went through again. Hoping for a hotel chocolat type moment….!

Pedro, whilst it shows the Cosmens are 'confidently adding', they've bought 6m shares or so without moving the dial much on the SP. I think it's more a demonstration of how weak sentiment is towards this company.

I saw Systematica reduced in WG. recently. I still can't help but think they run their shorts at the behest of 'clients' as opposed to their own fund management practice. I guess we will never know what sort of approaches MCG management have received until one they like crosses their desks.

When it comes to WM, if you can't make a part of the business profitable in line with the rest, then shut it down or sell it.

Not breaching covenants is the biggie. Does not seem doomed for failure in that respect.

So they need to strengthen the balance sheet to secure the guarantees against the contracts they have won. Does not seem unique.

Certainly does. So address debt/liabilities before shareholder payments. That's pretty sensible in the rate environment we are in. Seems like a harsh drop but I imagine this will yoyo for a while until trading uptick returns.

Actually I was giving this some thought having sold out yesterday. It’s the other way I believe. If there is something detrimental going on which has leaked (which clearly it may have), then the company would be obligated to confirm a profit warning / cash issue.

At least that is my understanding and could be way off. Someone already mentioned it could be as simple as negotiating with lenders regarding breach of covenants. Lenders don’t usually go for the red button unless they are alarmed be something in the business….the legacy stuff is obviously quite an anchor.

No holding RNSs either ….

Agree JG. Just look at the trades going through .... it's not a short attack as they'd still fill on the way down. If anything they got a sniff of blood and can disrupt any RI/fundraise by pushing the SP to such a level the commercials collapse and force another event. I'll jump back in on news ... minnow in a very very big pond messing with this one right now.

Something more to it I think. Bailed at lunchtime and took my loss. Even the shorts/MMs would not leave themselves that exposed by overselling if they were not confident of something not so great on the horizon. Kicking myself for falling for this honey trap this morning.

JG - exactly my thoughts for some time on this. Been around CPI way too long. Could be 17's tomorrow just as easily as it could get back to the 20's!

Tough one to call, but they already indicated they expected stronger cash collection this half and it would seem that has not materialised as expected. That said, the shortfall would have to be huge for this drop to be substantiated. It's a pure punt but I think this has been overdone with the shorters simply pumping in liquidity in the share. There may be whispers of some kind of cash raising event but even they won't be privy to scale etc.

I gave up on this one a while back but bought back in earlier today. Someone mentioned 'special divi' ... is it a known fact that a divi is off the table when the interims come out in a few weeks? Clearly trading might remain subdued but would some of the funds from the Greek sale not make it's way back to shareholders?

I don't know if you've been in and around CPI since 2020 or not Sharehead. You'd certainly understand my lack of optimism. As you are well aware this dropped then doubled more than once over the last 3 or so years and could certainly go again. I will have some shares by the eve of the 14th. Whether I end up paying over 21p for them....well that we'll have to see. Problem is you know the negative will be punished way more than the positive impact good news gets these days!

The other potential catalyst we have is obviously the next set of inflation numbers ... but then that effects all tickers really.