The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
A rather sudden 6% drop from 1.14p Friday morning to end around 1.0855. I can only assume selling due to weekend fluctuations and the Dow was down around 100points before rising past 500+. I am hoping RR will bounce back to around 1.12 almost immediately. No bad news out there and sentiment remains bullish generally for a much better summer time.
The Results I think will just be a confirmation of what was stated in January ie the bad news is out there already but I would think the Market will be more interested in RRs revamped future predictions as the vaccines start to kick in. Maybe the January pessimism will be diluted and a more upbeat future will be stated which I think would put a solid base under the sp at about 1.15 and see it rise through the weeks providing no Covid variations take hold anywhere in the Western world.
Just my thoughts
After last weeks hullabaloo over the resignation of PwC we (the ivestors) witnessed a cliff edge drop in the sp as a result. Loss of confidence and the tales of more bad news about to be imparted were being amplified at full volume by the derampers. This week I note the BBC website has an article about the oligopoly of the big 5 auditors including PwC and the latters incompetency in its auditing of BHS (of which a record fine of £6.5m was levied) The article also comments on the three attempts to lobby a change in auditing procedures which as yet have not been progressed any further than promises.
However the article also highlights how it is much healthier and proper for a company to essentially change its auditors every five or six years.
Seems to me BOO are trying to protect the company reputation and take every step to do so of late including severing old ties and refresh procedures where possible. Just saying.
Also some of those comments last week were very defamatory I thought and I would not be too surprised if some form of civil legal action is brewing once certain addresses have been obtained. Just a thought.
Cyril Knowles I recall Spurs player in the 70s.
Meantime seem to be stuttering around the 35p area which is great nevertheless but the billion £ value I think will be the ceiling personally. Nevertheless wtfdik
A much better day than yesterday's disappointment. Before some you rant I did (and Im sure a lot of folk knew the sp would drop further this morning) place a buy order at around 27.75 in the hope of a rocket and luckily some late action absorbed my buy yet again.
I think you are right cluelessinvestor stating investors selling late pm may now just regret tomorrow as this rise seemed different so for once Ive heeded that advice and deferred any day trading.
Good luck all but still not overly convinced of the 50p+ predictions Id be happy with 37p
Yup your quite right Sparticus but it does make me smile all these comments and abuse as the herd don't like being wound up after a disappointing day lets face it, particularly after the euphoric posts yesterday.
Yes I'm in profit I was just saying
Although I hold a healthy number of these I am somewhat perplexed as to why the sp should drop IF the deal is forthcoming sooner rather than later. The various and much higher values quoted on here are clearly not believed by the majority traders. The kiss at 30p seems to have been the euphoria and excitement ceiling and now as a date to finalise this deal remains unknown still so the sp will drip down I fear which is annoying. Us shareholders are going to have to be patient and watch profit ebb away for now or be brave and top slice taking a profit and hoping the sp drops further without an RNS this week which seems likely. Probably a spike come Friday of course back to 28p.
The fact the sp has not gone higher I think is telling (me) the valuation maybe not as exciting as I would like to think now.
On the flip side maybe I can buy more again should the sp pull back significantly I shall do what I have done before and place a buy order at a slightly higher price and wait again.
Should be healthy but a little befuddled by the drop in sp over the last week albeit SBRY has also dropped. I think it maybe a fear of reducing/ cancelling dividend.
As for online ASDA, SBRY and others all have online shopping done whilst daily shoppers are around as well as when the store is shut so that's not a concern. plus all food delivered particularly veg are all dated the same so their in no advantage to online shoppers.
More to the point the sp is dropping more than it has done during March!! Way overdone I'm thinking but a tad concerning nevertheless so I shall wait on the sidelines today before buying in again prior to results day
Hard to predict what will happen over the next two working days prior to 30th. On one hand maybe some bad press as journalists try and dig deeper for more expose but difficult to see how after today's mammoth RNS plus the business news will be awash with Covid19, William Hill/possible888 bids plus the future of football clubs pubs and cinemas sadly so any story regarding BOO will have to be an headliner methinks and I cant see one.
Odd that the report came out today just before a weekend however and not accompanied by the results as BOO intended?? Maybe nothing odd at all just the fact the report was able to be published sooner and had to be done immediately.
'Twas a good day today and the report has clearly pushed away the stops that were preventing the sp to return to £4+ The question is whether the Guardian/Times report has hit sales during the summer quarter or not. Usually the sp builds up then on results day mid morning profits are taken. Then a slow build up starts all over again...usually if no director sells days later of course.
So I'm expecting a rally up to £4 personally by Tuesday but as mooted below any drop will likely be bought into now the QC has reviewed matters. GLA
Im all for a good selling price however I find it hard to believe an offer will be forthcoming without the licence approval/confirmation. Methinks this is a euphoric bubble that may burst after 3.31pm but it takes a brave investor to sell out now.
if last years dates are to be adhered to again then full year results due next Thursday/Friday. Hopefully the early stringemt cost cutting/furlough will reflect limited cash burn and overall resilience compared to other competitors. Canada too may provide a better than expected CV19 effect on income.
IF and its a big if figures reveal profits are clearly evident post virus then maybe someone may come sniffing!
indeed DORE some form of update should have been published by now and that too is is my big concern. It was VAST that last had me very worried but having texted the company director at the time he replied a day later saying simply all is good! And it was (then). So if no one has heard or received a hint of 'dont panic' communication from EUA in any guise then methinks the worst particularly if by close of Tuesday next week passes and no word as then its two days and one early morning rns to go. But what can we do? Utterly helpless!
7am 29/5 to be exact. In my experience I have held two AIM cos who have frightened me with a similar Nomad swap and both came back to the AIM day before and on deadline.. I know not why?
As for this increasingly anxious holding something is afoot clearly. Is it Covid delays? still ongoing d/d research? Who knows due to the silence.
I'm thinking if something untoward was revealed such a discovery would have to be announced by now. I would think a responsible Nomad would also have backed out well before now allowing a fresh appointment to be pursued before deadline (maybe or am I being really niave).
So going by the recent RNS matters still in hand but final dd yet to be completed so maybe it is Covid delays and quite frankly in these unprecedented times an extension request to the appropriate council is not inconceivable.
Also as others have mooted why would you bite the hand that has fed all these years, undermining shareholders as the future would be bleak for those directors to come back with new investments along with legal action probably.
Seems to me a delay due to present circumstances is the main reason at best and worst pure incompetence and ineptitude to complete the Nomad deal. I'm going for Tuesday next for an update RNS next week either advising delay and extension or confirmation of appointment....hopefully.. gulp
The drop pre virus was I firmly believe to oust 888 out of the FTSE250 and someone or director offloading. The former has worked and the latter ...well..888 has no CEO or CFO at present. And at this price hmm...takeover cant be discounted.
Anyway now following the virus fear downward trend continues to exacerbate the decline here. However the sports book only accounts for 16% of profits here not like WMH and alike. Casino, Bingo and Poker (just) majority of profits.
With $110m cash held , no debt, expected profit (I think) of $45m on revenue of (I think) $550m and dividend its not looking that bad an investment.
Also 888 only in January said all was within forecasts with a hint of improvement in poker and UK/Spain generally. So providing no skeletons, doubts about dividend then I could relax here.
Not that much exposure in the US as others sportswise but if quarantine kicks the isolated are likely to play poker/bingo/casino until hopefully full recovery.
Who knows whats going to happen but 888 is likely to be drawn down with the others as its such a small company now and in my mind lacklustre directors in charge. A healthy self promoting Full year report 24/3 should provide comfort for investors and maybe a safer haven for new investors particularly if the divi is attractive again (+7c) say. So a healthy recovery I am expecting later in year . All imho
888 is quite frequently subject to short attacks last year apparently in an attempt to remove from ftse250. The graphs show the extreme peaks and troughs as well and how quick the rebound can be (usually) However this is unchartered territory with the sp returning to +5year lows for some reason??
Another short attack before results was my thought but that was blown away by the fact all previous sp floors were passed with ease and now sat at 1.06!!
A rebound normally happens a couple of weeks or so before results due 24/3. The results should show a strong last half year as hinted in September and more recently with t/o probably around $550m with a profit of $50m and a divi of say 6/7c though cant remember last March right now.
So is it coronavirus? partly now as sporting events are being called off gradually but thats taking effect now not the 1st Jan
when slide began. Shorting probably as nothing being reported until March. Possible t/o tactics ?? Low ball offer for a debt free $50m profit making co that could offer more if run properly. in my opinion. Recent gambling laws? None of the other companies have slid down to record lows like 888 so not convinced there. The cessation of divivend due to leaked poor results maybe? Not likely in my opinion unless a huge blackhole in accounts??? Unlikely though and that would have heralded a profit warning RNS anyway.
So what has caused this 37% slide from 165 in December last???
Im down a fair bit here now but sold out the other day but will re-enter if sp hits 115/120 again and shows life.
Personally I think it will now hit £1 tomorrow if the DOW goes down another 500+points valuing 888 at £369m well outside the FTSE250 criteria and market value only 7x net profit....a bargain maybe for someone sniffing which they maybe if sport is adversley hit by postponements and cancellations. Just thinking out loud.
One last thing it would not surprise me to wake up a missing the boat as a new trading day dawns and without any reason sp shoots up 20p then climbs up further over a few days back to say 1.40/1.50 providing virus in Europe remains contained.
All above in my opinion of course
Is this a concerted short attack to make sure 888 is out of the ftse250...if it is its worked and some. Or are the due results expected to be that bad hmm I dont think so but who knows now at this snowballing decline. A complete headscratcher this decline
I understand If the Nomad resigns that definitely requires an RNS immediately as the company then has thirty days to re appoint a replacement or face expulsion from the market and shares delisted. If the CEO has resigned then not so dramatic but would require a shareholder update. But if the latter has resigned his holding of shares is in a dubious situation and oif course CEO can be replaced or not in the case of a t/o.
Something is afoot for sure but it is between CIFCI and EUA Board thats all we know the rest in guesswork some of which is calculated. But EUA seem to deliver curve balls from the blindside. Personally methinks negotiations on whatever are clearly progressing but have had to move up a peg due to the social media comment.
I would also add that H1 figures were much healthier than previous years so come 24/3 (Finals) I would hope barring any horrific surprises the Final 2019 figures should read a very significant improvement in all markets even poker! with total revenue back up +$550m with a dividend of maybe 7c as well. In my opinion
As an aside and Im sure its a coincidence but drops and recoveries seem to happen on the 1st of a month of late. Odd.