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I don't pay much attention to the technical so maybe Hindy can cover this but the price action today tells me that if this closes in green today on a red day for ftse, it would be a good indicator that this has finally bottomed

Looks like Karl's account or his mind got hacked.. lol.. either way, we will happily ignore until fixed

I will send you a champagne mate if that ever transpires.. imo, very unlikely anyone would bid for the whole of MCG, more likely to have some bids coming for UK or US businesses

@Karl, you must be joking.. where are they gonna get the funds.. Flix is much smaller than Mobico and now undergoing an IPO process by the looks of it.. no company trying to list on stock market would be even remotely interested in such a massive undertaking..

do some research please before you post

There's absolutely no volumes from last few days expect for some one off trades, who knows what they were.. stocks don't go up on abysmal volumes, looks like this wants to test the lows again and go lower.. i don't see any change to the overall sentiment on this share

@Karl, you seem to be commenting about takeovers on other boards too.. though it is not out of question, it is a black swan event so no point in ramping this one up on those hopes.. now i absolutely don't mind someone ramping this share as we have had our fair share of doom and gloom by some dimwits but let's be realistic this will not go up 30% overnight just like that.. there something materially good needs to come out in a rns for this to start it's journey back into 100s

Even a broken clock is right twice a day! i have only read their recommendations a couple of times but it immediately struck me as very clickbaity and without any substance

Can someone explain this transaction at 13:59 worth 750k shares at 86.25 but the market price never reflected that? is this a way to keep share price depressed while someone keeps adding

Thanks Hindy, that makes sense.. i truly hope we are in one

@Hindy, for us ordinary mortals, can you explain what is this set up? What' so special about this level?

@Karl: I think you are still not getting the point.. this has been a perfect top up and average down opportunity for many since this was in 120s.. many including me thought it was the bottom at 120s.. then it started another leg down and hasn't stopped yet.. the company is safe as houses yet the drawdown continues

"The BOD can only control the market so much"

True but I don't think they have done anything at all or at least nothing visible.. it is there responsibility to maintain shareholder value and they have failed miserably.. think of the guys who bought this stock at 320 after covid rally or worse who have been holding it before covid days when it used to be 400+

i have been banging about the spineless performance of the BOD from a while but there's only so much you can do as a PI.. well, you can write a hatemail to the IR guy but he's complete useless and you will only get a generic response from him like I did couple of months ago.. the only think i don't understand is why are the big holders not making any noise? I haven't seen any RNS recently about some II selling big time so can only assume they still hold a big chunk of this but by now we should have heard some disgruntled money managers.. another mystery to me is the lack of analyst ratings, what is happening here - does anyone know? I haven't seen any revised or reaffirmed ratings since the results

@Paddy, agree.. most of the folks here are day traders (nothing wrong with that btw) which skew the overall sentiment on this board.. and patience is not something that comes easy to most especially when you are on the losing end..

however, there is something odd going on here but i can't place my finger on it.. usually you would have half year results and analysts would be lining up with their recommendations, nothing happened here.. why? are they also equally clueless like us? most days, the UT price takes close to 1p off with very low volumes.. almost all companies which were down are back up somewhat or atleast found a bottom but this one keeps going down.. can't resist the feeling the share price is being manipulated but been feeling this for the last 6 months and nothing has come to the fore yet..

this is not normal for a 'safe' company.. what do you think?

Quickdip, there you go again.. it is because of people like you who are pure dimwits that people like confluence worry about posting any constructive opinions..

asos is struggling because there are serious bankruptcy risks, they don't have a free cash flow and are in a highly competitive business which directly gets affected by a downturn.. MCG, though not w/o its own challenges, doesn't have any of these big issues.. they still remain an investment grade company while asos is categorised as 'junk' in terms of credit rating. As far as the refinancing goes, they don't necessarily have to as they already secured a bridge loan which can last for another year but it's just prudent practice to get a new bond and they won't have any problem with that.. infact we might hear about it this month

JG, that's very true.. it has become an uncomfortable routine, one that I would want to reverse soon..

I was just looking at First Group numbers.. balance sheet wise they are much better but oh boy has MCG massively underperformed that stock when it comes to EBITDA / free cash flow with first group revenues shrinking just because they have a better balance sheet.. just tells you about current mentality of this market

Also worth remembering the CEO & CFO are under lots of pressure, they know it.. they made the UK and US CEOs the skapegoats this time but there neck is on the line and that's something which is a great motivator to deliver

Hey chaps.. took money out from the fixed income portfolio and bought another 40k worth of this dog.. i have gone all in now, it is somewhere close to eyewatering 185k shares with an average of 110, have never taken this much risk on one share and probably never will in future.. i will sit tight and not worry about the noise, easier said than done though but truly believe this is the washout, we are in the end game.. either they start bringing out positive news or a hostile takeover / activist bid should emerge soon.. the BOD would have likely bought today after completing one week of blackout period, if it is anything less than 100k each then shame on them

I know lot of you have invested equally maddening amounts of cash into this so good luck and have some faith in your own sanity.. remember the reasons why you invested here and only stick to the facts..

1. growing revenue and expanding margins - check

2. debt under control and serviceable through free cash flow - check

3. paying dividend and reducing debt with spare cash - check

What else do ppl want - stop starting at the screen multiple times a day and save yourselves the stress that comes with it.

western economies can't sustain high interest rate environment for a sustained period - interest rates start going down in Q4 irrespective of what BOE tells us, the share price should double by the time we have full year results announced next year.. my 2 pence worth of it

Only thing i was fearing was that they may announce some new deep rooted operations issue which may lead them to do a rights issue.. no major negative came out which was a relief.. what still bemuses me is why the share dropped this much in first place and even with a decent forecast (& no skeletons) it still hasn't re-rated. I don't know what ppl on this board are drinking but rights issue is not gonna happen given they are paying out a dividend, i mean that's a career ending move by a CEO & CFO if there ever was one

if you discount all other possible rationales which is reasonable to do in this case, you are only left with one likely outcome i.e. the share price continues to be manipulated

I absolutely do not mind that scenario.. though we will not realise the full potential but many would relish the opportunity to move out with some decent profit and remove the stress of waiting for it to climb over the next two years

Someone on this board suggested SYNT a while ago, slightly worse debt profile but it has bottomed out already and i am feeling tempted to move some of my holdings there for risk management.. here we don't seem to have found the stopper yet