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Hit hard today on such pitiful volume. Now down in excess of 60% since last year. Unless their accounts have been misleading the Market I cannot fathom exactly what has happened here but 888 is soon going to have a Market Capital value of c£400m down from the halcyon days of £1bn last year!!!!
Unbelievable another 3/4% drop over the last five weeks from 1.57 to 1.31 and no sign of halting this capitulation. No news on the horizon struggling UK market exCEO selling 3.5m shares a super effort that has clearly worked to get 888 out of the FTSE250 club........and yet no debt still healthy profits and good dividend.
Maybe the latter positives are now in doubt and to think WMH bid £2 or thereabouts. Thats a deal now.
I still think this is a concerted effort to get the sp down as low as possible before the 36m buyback or a derisory offer is tabled even if its to take 888 private
Now mixing with the 5 year lows!!!! No other gambling quoted company has capitulated like this over the 11 months it is quite extraordinary. This is clearly a forced sell from either many many short positions and/or determination to get sp down for a max 36m sharebuy back...unlikely but... and a concerted effort to relegate 888 out of the FTSE250 which it is now.
I cannot see a recovery here until September maybe if figures are good but also any hint of a buy back of significance or take over. Other than that 888 is being well and truly fkd in my view
Actually the former CEO has verbally promised not to sell his remaining 3.5m holding until at least mid June so that large sell has not officially affected the sp yet. However with this carrot of a share buy back which I think is also partially responsible for this ongoing drop and the FOBT not helping albeit not really 888 domain plus the drive to get 888 out of the FTSE250 are altogether responsible for this capitulation.
Im thinking this will go as low as £1.30 by end of June. Only a rumour of a t/o or an actual buyback will change sentiment now. Management I think are hopeless here
Well Ive sold out here anyway for now but a rise will eventually come. Noted the minor bounce yesterday to £1.52 but now back down 5p as MMs sold into rise. Clearly big sells in background including the exCEO and his other2m shares up for sale which verbally were to be held back for 60 days (now 30) but let's face it still affects present sentiment..
Also getting 888 out of the FTSE250 is still very much on the agenda methinks which will be in June the way sp is nose diving.
Indeed as stated on advfn if Hills came back with a £2 offer I think shareholders would agree to it!!
Bailed back in December at a £11k loss here and that was when the sp was around 0.43.... since then having nursed my heavy wounds and never looked again at VAST which was difficult having invested in this company for over four years or so I have finally recovered those said losses thanks to BOO, ASC and PMO and now CEY (today). So it is possible !!
My final thoughts on this debacle of a company is never ever fall in love with a share when sp is falling particularly on AIM unless its very profitable and has a competent CEO. I hope those diamond mines come on to VASTs books soon otherwise I give this company little chance of recovery.
Absolutely appalling decision by me to trade here. 888 should have rebounded if only back into the 1.60+ level but this concerted effort to stifle any recovery is working here by whatever whoever it is. Could have escaped a couple of times but the sp will not budge above 1.58.
5year low for no apparent reason yet maybe to push out of FTSE250 in June and thats some time to pass yet. Definitely jumping as soon as that sp rises to its puny high again particularly as there is no news on the horizon until Autumn methinks.
Is never a good sign as the selling pressure continues. Normally after five days max a two day surge occurs but this pattern has ceased. I can only assume 888 is being driven out of the FTSE250 club deliberately as it was a couple of years ago. However this 5year low is starting to concern me particularly if this drops again today.
Gets below £500m MC and a bid is on I reckon!
Being clearly pushed down out of the FTSE250 again as we are now approaching a 5 year low!!!! Why?
No huge shorts in place just constant selling with the floor now blown open as153 was the baseline. And now £1.50 looks like it will be easily pushed aside as the decline continues at pace and has done since end of May.
888 has dropped by 55/60%since the halcyon days of last Summer
Extraordinary and with no obvious reason
More to the point 888 is now at a 4 year low and is showing no sign of an upturn. This company has become totally unloved and I can only guess is being shorted to hell by some investment.
Share buybbacks are considered good news but the management here really have no intention of reducing the shares in circulation by a full 10% hence the utter dismissal of the last RNS.which should have caused a spike.
No debt, cash held good divi yet being pummelled since last year
looks like I sold out mistakenly. Utterly wrong again with ASOS sp behaviour I was convinced this would be hit by shorters but with hindsight did think it a tad odd the sp never nose dived during the pas t week or so despite the rumours.
Let's see how the day/ rest of week pans out then..