The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
I think that's always been one of the problems here, the company's reliance on single contracts. Just makes things too precarious, too reliant on jam tomorrow.
Would be interesting to know what thoughts Micro have on this - perhaps, as you say, this the moment, but at what price.
Any thoughts on the cash situation?
Will they ride to the rescue once again?
What's interesting in my opinion is that they managed to reduce by about a percentage point the other day, whilst the price approached the 52 week low. I guess that's why the UT trades are accounting for most of the trading volume day-to-day here.
Yes, just saw the RNS flag flying over here ...on a Friday - not typically a good sign.
*The Group's cash position at 31 March 2024 is anticipated to be approximately £0.4m.*
Free cash after or before the loss? What are their monthly overheads?
This should have been a much more detailed statement outlining exactly how they now intend to survive...
That's year-on-year.
Month-on-month they're flat, which is ahead of market expectations. Online clothing sales did 'well' (although, whether they did well enough is another matter).
Retail sales volumes in the United Kingdom remained unchanged in February 2024, following an upwardly revised 3.6% increase in January and defying market forecasts, which had anticipated a 0.3% decline. While clothing (1.7%) and department stores (1.6%) experienced boosts in sales due to new collections, this was counteracted by notable declines in trade at food stores (-0.3%) and fuel retailers (-1.3%). Additionally, online sales surged by 2.1%, marking the highest increase since July 2023, particularly for clothing retailers, as wet weather affected footfall. Year-on-year, retail trade was down by 0.4% in February, partially reversing a 0.5% advance in January. More broadly, sales volumes fell by 0.4% in the three months to February 2024 when compared with the previous three months, and by 1.0% when compared with the three months to February 2023. source: Office for National Statistics
Some good signs in there.
Short positions are a whisper over 6%, Tom.
£7 close.
Completely agree regarding the distinctions between Next and ASOS, but this is also reflected in the shares prices of both. One, an established thriving market leader, is £89 a share; the other, assumed to fail, is £3.40p.
*Online sales rose 5.0% to GBP3.16 billion from GBP3.01 billion, retail sales were flat at GBP1.87 billion*
Online business is thriving, I see.
*When you consider the many vanguard funds increase by 10-20 percent or more YoY I do wonder why people bother with shares like asos apart from a short term trade view?*
Yet here you are.
Agree. It's a very short-term view, and I would argue, one clouded by the current share price trajectory and movements.
The FY2025 projections (6% EBITDA on £3bn revenues (bottom of guidance)), if achieved (and granted there's some work to do) will see 450p a distant memory - if the company hasn't been bought out or taken private before then... with those kind of numbers a concerted move upward would be irresistible.
A further point to make is, once this pushes back into the FT250, with say a £550m mcap, the fight for the ever decreasing free float will be joined by a bunch of tracker funds. Not many shares to go around...
GLA
Maybe; maybe not.
UK Retail sales data is out on Friday and we’ll also hear from the horse’s mouth on Tuesday.
Not long now :)
Dow will probably hit 40 this year.
Overarching FED message: higher for longer.
Bailey is about as much use a chocolate teapot, so no point looking in that direction. Besides no one cares what the now much diminished UK does - it's all on the US/FED.
Increase until the oversold signal are stronger.
What matters though is the update.
Good luck to us all.
...this BB has gone completely off the chart!
Thanks, but MF is bipolar. No doubt around the same time there was a piece saying, don't touch ASOS with a barge pole.
And there is no jumping on a bandwagon - only 43,000 shares traded in 4 hours.
Not sure whether this is ASOS specific or whether volumes on the LSE are historically low.
The bar is low, they just have to say that they are within guidance, liquidity is fine and the outlook (including the driving change agenda) remains the same (or better) and we might attract buyers once again. The news has to be ASOS specific to move the dial I think. Inflation data, unless worse than expected, just can't do that job.
GLA