Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
At the same time. Boohoo need to self reflect, stop moaning and figure their own sh*t out.
They paid Macfarlanes to do the investigation. The company was already solid and doing well in existing growth markets - they haven't actually done anything to launch into new markets or streamline operations.
All Bob has done is lie month after month that the accounts would be release and the shares would be relisted but is treated as a hero here and getting paid even though was voted off the board by the majority of shareholders and the resolution to pay them was also rejected.
It's farcical and self-serving!
Pedro you have said the same thing 80 different times. STFU.
I use shortracker but its not updated yet so got it from the source here with today's info:
https://www.fca.org.uk/markets/short-selling/notification-disclosure-net-short-positions
click on 'See the public short positions disclosed to us - daily update (XLSX).'
Looks like Pertento are fully out - reduced to 0% and Ennismore have dropped below 0.5% @ .47% now.
Citadel and Systematica are just above the threshold.
Thanks T4G - that's interesting as it seems that Citadel has dumped non-stop without having to notify which I think is ludicrous!!
Ouch - nearly 7%. Question for those in the know, do they need to disclose these positions for any movements (no matter how big or small) on a daily basis?
Ie would that suggest that they got rid of 7% in one day?
If not and they have been selling over time, it would explain the dramatic drop over the last few days and why it's gone down to 32p (and back up to 34p).
Fortunately Mike Ashley bought the block - imagine if he hadn't!
It's quite disappointing and scary when the big boys start selling and would be interesting to see the Media reaction to this - Norges and Citadel exiting + sticky inflation and no update until September is a recipe for disaster!
Norge are a virus - good big Mike has come in and will be holding long. Norge have been loaning out their shares to shorters since they came on as an investor.
Good to see that Citadel reduced their short to below .5%.
Looking at the @boohoofamily insta handle it says two things which will annoy both rampers and derampers
1) If Boohoo are so broke, how can they afford a blowout party for their staff? (Derampers)
2) Why are Boohoo wasting money on blowout parties? (Rampers)
https://www.instagram.com/boohoofamily/?hl=en
I spoke about this conspiracy theory before but I think there might be truth and it all boils down to RevB.
Marble Bar were massively shorting RevB before anyone else and surprise surprise share the same office block as the auditor, BDO.
Similarly, Eleva Capital are next door on Baker St. They are shorting Boohoo but not inconceivable that they've got wind about RevB and perhaps there's a reason it's not come out of suspension yet.
Why are they suddenly going so bearish compared to anyone else and have no other position in any other stock apart from Boohoo above 0.5%. Literally putting their eggs in one basket. It can't be down to research, it has to be down to insider information.
What annoys me is that Boohoo started this process a lot earlier than Asos and recognised the issues nearly a year before. Asos are not incorporating test and repeat and reducing stock holdings... Something BOO addressed long ago. This is why the debt position and BOO is far better managed then Asos and why no raise was required. Unfortunately the market dragged them both down together despite corrective action being made a lot earlier. I sincerely hope that September's update underpins this strong progress
Guaranteed negative press no matter what... They will lead with headline that sales are down 14% without reading the full rns.
It seems positive to us small time investors but will definitely drop on open and then hopefully rise.
T4G, does it not concern you that the bigger funds are not buying if the price is so cheap and the company is so great?
We can complain about manipulation all we want... Today's comments by Jeremy Hunt certainly don't help with the uncertainty of the cost of living crisis. Less disposable income and higher interest rates and people rolling of ficed mortgages will hit people hard. The shorters are taking this information and taking positions in retail as they will forecast declining sales (less disposable income) and higher costs (wage growth to keep up with soaring interest interest rates) and cost of debt.
What annoys me is the lack of updates and communication from the board. If there is no tangible update until September this will only go in one direction. The rerate even where results are good would take us to say 50p and far far away from what investors expect.
The only positive thing about the share prices being so low is that it's primed for a takeover. Unlike Asos the cash balance sheet isn't as bad. PE can bring in new management to rebuild reputation.
I'm not sure Mahmood is going to be so attached to Boohoo anymore. Umar and Adam are now out of the business or at least on the way out and Samir Kamani (Boohoo Man) I'm sure wouldn't mind a payday if bought out.
All in all, something needs to be done to reignite the share price. 30p is a joke.
It's strange that they are departing from last year where they did provide a Q1 update. I expect the reason they want to fast forward to later to provide an update is because the US DC should be up and running by then and they will also hopefully show that they are back on track in terms of profitability.
Based on the last update, things were looking positive from a cash flow perspective and debt perspective. The share price is currently pricing for failure and close to dropping to near all time lows.
There has been negative press re disgruntled suppliers. This coupled with articles on fashion waste and declining revenues does not of course help the share price.
Boohoo's issues are not terminal but at the same time, the board needs to be a little bit more vocal, provide regular updates etc.
I do not even know whether there will be an update this week? No RNS to say so but we would expect Q1 results either Friday or early next week?
I have mentioned this before and this feels more than a tree shake. Either shorters are trying to exit or something isn't quite right and has slowly been leaked? How can this be 8% on no new information? What has changed from yesterday to today? Also why are people not buying in at this price? Doesn't exactly instil confidence if managements aren't buying in / the big funds aren't piling in at this price.
We are definitely missing something.
Going on what's been announced by Boohoo in their last update, there is no cash issue and no reason for them to be priced as if they are going under. Right now it seems they are being compared to Asos. The reality is that things have undoubtedly improved. Costs have reduced massively and with the US DC up and running soon it is certainly a tailwind.
Even if they don't grow as expected, the bottom line should at least improve significantly so even if they aren't going to be a growth stock, they will definitely provide long term value at this price.
An investor has to think whether this will go bankrupt and will it take positive steps to become profit making again.
I think it will and any company that managed to survive through Brexit, the pandemic and the Ukraine War, deserves credit.
Regarding the tax rises in April - good thing to note that Boohoo have tax losses to use if and when they turn a profit.
People Power is right but what I take from it is that they are loaning shares out (perhaps to shorters) and have in fact covered that position such that 0.1% are out on loan with and increase of 0.3% in actual shares owned.