"Ticketmaster owner Live Nation confirmed "unauthorised activity" on its database after a group of hackers said they had stolen the personal details of 560 million customers."
Not just Capita & Santander then......
https://www.bbc.co.uk/news/articles/cw99ql0239wo
Noticed that Aim, shorts (under 0.5%) now at 1.99%
Certainly stepped up from the 0.53% on 21 March
Dangerous game for Millennium at these levels; do they know something!
It would only take a rabbit from the hat on Wednesday & they might feel a sqeeze
Yes, me too, as i can't find any info to substantiate JustAndy's statement.
The reverse has recently been the case with ITV & DEC; where they are shorted by several funds yet the share price has risen.
For those here who are already long & have made purchases you may be concerned what could be said at Cap Markets that might affect the share price. To hedge against any downward pressure, for instance, you could use the strategy of taking out a short term Call/Put contract (CFD/Spread Bet). The Option would give you the chance to buy/sell at a predetermined price in the future. To excercise the option or let it expire, or sell it. This would cost but, in effect, would act as an insurance policy should the share price move against you
Not for me, but some might use this strategy as a Hedge.....
Does anyone on here know more, or use, this type of strategy please?
Shorttracker has Capita at 42 of the top companies shorted on the LSE, at 1.8%
The short situation might not be as simple as you think. These 3 funds shorting Capita may well have Options in place to hedge against the risk of unexpected good news or a short sqeeze for instance.
For myself, when i look at some of the companies above Capita on the short list, at 1.8% i am not undully concerned. Take ITV at position 45. Shorts at 1.7%, and yet the share price has risen from 60p to 78p over the last 3 months, on positive news. A 30% rise.
Conversely, Whitbread (at 35 2.1% short) has seen it's share price drop from £33 to £28 over the same period. So, to my mind, looking at % of shorts held is not that transparent. More can be read here for those interested....
https://www.investopedia.com/articles/active-trading/021715/how-protect-short-position-options.asp
Well spotted Aim, thanks. 9 trading day's until Cap Markets where AH will set out Capita strategy going forward. Do they know something? Something in the wind?
Re; Possible cap raise. May not be through issue of more shares, but just increased debt. Seem to recall JL taking out £100m of debt around last Aug at H1 23 (tho could be mistaken)
All of my portfolio in the red today; AV, LGEN, BATS, DEC & VOD. Tho CPI biggest faller.
Also my COIN & META off as well.
Aim, did you comment on the recent Times article on AH? I thought it read very well, compared to their past opinions where JL was CEO.
Stumpy, isn't that 1.55%, or have i read it wrong?
Either way differant figures from differant websites.....
I don't see this as a great worry. More than balanced out with Schroders increase of 320% over 3 years, to me anyway.
Agree, what the market hates most is uncertainty. JL made a total hash of things and the market doesn't forget easilly.
Here is an article in The Times from 23 Aug last.
"10 March 2022. Lewis declares transformation of Capita complete"
https://archive.is/Wg8RZ
Aim, i re-read your excellant comments from 24 March entitled Investment Case for Me.
What has happened since then for you to turn so bearish, may i ask? It was post FY Results, and the only thing we know now and not then would seem to be the short increase.
The unknowns are still mainly unknown. Or is it the known unknowns?
Aim, just as a counter to your 1.8% (assume that is correct) of Capita shares being held short, and to advance the debate. Please see here a point i made on 26 March from NF's data of Capita ownership.
"What's interesting (to me anyway) is to look at the holding over time by Schroders. From February 2020, at the start of Covid-19 outbreak, they held just 101.031m shares. They stayed at this level until October '20 when they doubled up and bought a further 101.187m shares, to total 202.218m shares. This would have been just prior to the announcement of a Covid vaccine, with a huge proportion of the 40,000+ staff furloughed.
By August 2021 they had steadilly increased their position, to have by this time 309.079m. Since then they have further increased to now holding 321.826m"
So, over that given period, Schroders Investment Management increased their holding from 101m to 321m.....so a 320% increase.
E&oE
Yes, there are the share purchases. But also, AH has had well before his announcement as future CEO last July to take a good long look at the company. If he had seen only a company heading to bankruptcy, why would he have bothered taking the job? To trash his, very excellant, reputation? I can't see it. Plus, others have joined him at Capita and made share purchases. They are mugs who would ruin their reputations too?
I think we PI's need to be patient. Yes, there is an arguement for waiting for good news to be announced and then buying at 20p. A prudent approach maybe. I'm in at around a 23p average and am comfortable with that, at the moment. Will i sell some off as/if the SP rises? Yes. I watched it go to 41p last time and failed to lock in some profits. I think a few on here regret that decision too, looking back......9 trading days till Cap markets
True Aim, but if the new CEO & CFO don't know the answer, who the Hell does?
Surely bonkers to 'look under the bonnet' and then, having seen terrible things, to then buy £100k of shares only to then announce a capital raise which decimates it's value.
I get the short arguement, but shorts are also prevalent with VOD & DEC, both of which i hold small amounts of and which have seen the share price rise recently. Shorts made no differance there....
I think the shorters are walking a tricky tightrope at these levels......but time will tell
Differant author on this Times article from last November. But i certainly get the impression this newspaper didn't take to JL.
"Yet if this is a successful transformation, you can’t help wondering what an unsuccessful one looks like."
https://archive.is/54V1J#selection-2051.217-2051.323 (hope i've done this right)
Last weekends article reads very differant. Good times ahead for Capita with JL gone & AH now in charge......
"Wonder what'd savages assessment on the article is ?"
Why on God's earth would anyone seek the opinion of an idiot!
Long ago filtered, along with 4(something)
Don't subscribe to this 'free speech' idea. What would be the point of there being message boards, where people come to see & make comments on a specific subject (gardening, shares, football), only for folks to hijack it to press home their political views. Am sure there must be a sepperate forum somewhere for that sort of stuff
Happy Bank Holiday all......
PS; Very good article in The Times who, if memory serves, have been scathing about Capita in the past. Maybe they just didn't like JL!