Member Info for JPMustang

I checked RTOP about a month ago (read their website, product briefs, claims that 60% of the customers stay with them, having 50% of the Italian market, etc). Coming from a banking & payments background the product they 'have' sounds like a lot of fairy dust.

Compliance is not easy, and pretending that shipping all data to a system that would figure out how to keep a company compliant is a bit of a laugh. I can imagine that by the time an organisation finishes configuring a system like this, they would have built a better platform in-house and with a fraction of the running costs.

As always DYOR.

I recently started tracking Essentra and I'm wondering what other people think of the company and management team as the increase in short positions doesn't bring much inspiration.

I'm also wondering what is the cause of the delayed buyback, could it be that the company thinks the SP will drop in the next months?

Hi Rachel,

I worked for a company that used CAB to do remittances to Africa. The company was profitable and sound even before the big increase in business in Nigeria (which now got reduced). I know this because the company I worked for had to do its own due diligence before taking CAB's services.

This ups and downs happen with companies that deal in emerging economies, and not many companies have the stomach or know-how to deal with it. CAB has both.

As a side note, having to deal with other regions is also a rollercoaster. Governments in emerging economies that have ficticious pegs against currencies 'invite' companies like CAB to alleviate the lack of access to foreign currency. The Nigerian government doesn't like it not because it's wrong, but because it highlights their ineptitude (again the same for Russia, Ethiopia, Venezuela, Argentina, etc). Another side note the negative views (in particular from the FT) are quite biased, I have the impression the FT or one of the journalists has something to win, as they have been very critical from most IPOs in the UK. It feels like they don't want companies to be listed in the UK and want them to be listed in the US.

I was looking at the same. 60p is a *very* good place to start in my view. I did buy a few more yesterday when the price was a around 61p. I'm quite confident the price will ballon up, but it might happen in Jan when the next earnings are reported.

I just started looking at this company and wow... what a dodgy history.

Does anyone know if the whole management team is gone and the accounts/forecasts are now in relative order?

Out of curiosity could a reduction on the short positions mean that the funds shorting don't see the stock moving down in the medium/long term and prefer materialise their profits and use that in another share?

I also don't know much (actually nothing) about the retail clothes business, but reading the news it sounds like this festive season might not be the best due to the cost of living increase.

Sorry to piggy back on this, I didn't know it was possible to move shares into an ISA. In this situation, is it also possible to move shares to a SIPP?

For example if £20k of shares go to the ISA, can the rest go to a SIPP? And would that be taken as a personal pension contribution? (and get the tax benefits)

Https://www.reuters.com/business/finance/cab-payments-pledges-hit-revised-targets-after-stock-plunge-investor-2023-11-16/

Looks like ther won't be an RNS until Jan.

And it just went into auction... I hope it comes out blue.

@Jen248 Thanks for sharing the article!

@Jen248 can you share where you've seen the negative press? I saw some negative articles around the 25th (the FT had a scalding one), but the last 2 articles I read were positive due to last week recovery and the buy from Chief Risk Officer.

I'm not trying to defend CAB. The continued silence after the drop is plainly poor PR.

@Jen248. I think there's nothing to see from any regulator. On the 24 and 25th of October many payment providers suffered a big SP drop. Some analysis pointed at the drop on Worldline as the cause for the big drop on Nexi and CABP. I just ask you to chart the price of Worldline and CABP from the 23rd of October onwards next to each other (hint: they are almost identical), the big difference being that Worldline dropped by 50%, which is still eye watering.

Personally, I think that the drop on Worldline, plus the RNS on the lower turnover from CAB, plus the short by JPMorgan turned something that should have been a 10% drop (similar to Nexi), to a wooping 75% drop.

If you go to the research gate page of the person who made that claim (https://www.researchgate.net/profile/Ed-Gerck) you can find very amusing papers such as:

- On the non-existence of dark matter and dark forces

- There Are No Complex Numbers: a 500-year illusion

- π is a rational number with arbitrary-length: disproving a 2,500-year illusion

This chap has either gone bananas or someone took over his accounts and it's having a laugh.

Earlier today I learned of Wordline and Nexi, two other payment providers that had a large drop on the 24/25th of October. Their SP are recovering nicely, which I think is a good indicator that CAB will keep going up but probably with a bit more volatility as the other two companies have been public for longer time.

This for me solidifies even more that CAB is a fantastic short/medium-term investment.

Have a good weekend folks!

i've seen some comments here that seemed unfounded about cab and i wanted to share a bit my experience. i worked 3 years ago for a customer of cab that does low cost remitances to africa, middle east and asia.

cab deals in countries which most financial institutions don't want to touch with a barge-pole and the few that do (other than cab) usually have higher fees. a good example is myanmar, cab managed the situation with a lot of care while the coup evolved, and both people and institutions were sanctioned. there was another situation (i can't recall if it was in mali) in which their currency suffered a lot during covid and some money transfer institutions raised their commissions very aggressively, while cab kept them in line rather than trying to fleece their customer. this gained cab a lot of kudos and is a reason why a good number of aid agencies use cab to transfer funds for their programs. someone accused the company of being ******, all i can say is that it helps that cab has people from the same cultures where they operate and some of those employees are on the ground spread across all the regions they operate.

i met a couple of the c-level folks and i got a really good impression from them. they had a clear vision of making easy, cheap, and safe to move money in and out of developing countries. and i'm quite sure the a good portion of the money from the ipo will be used to make cab more tech-savvy.

it's worth remembering that helios investments still owns 70% of the shares and owned cab since 2016. with the amount of scrutinity, i just cannot see the board playing any games other than being objetive