Not many would want to buy a stock if the owners themselves are trying to come out of it by selling their stake. They have been given bad advice. Timing is also bad. They should have waited for Covid recovery to be over.
Red Inky It’s already tested sub 100 few days back and couldn’t stay there long. Plenty of support around 100. Will go up as international travel opens up. This was in 120s when question mark over international travel sent it to 100. Now that we are seeing start of travel in stages it will be back to 120s hopefully this week. The announcement of traffic light system is due on Friday I believe.
With regards to India, the massive spread underway now with almost every family in cities being affected will bring the herd immunity very soon, similar to what is achieved by vaccination. Sadly there is a human cost to it as the medical infrastructure is unprepared for this scenario.
Funny that when price is down we get all sorts of negative posts. The moment it goes upwards of 115, the sentiment changes positive and talks of 3LRR and 5LRR. This will be volatile imo in the 100-125 range. Right now we are the bottom of the range. Let’s hope this is 110 by next week. It already touched 108 just a few days back so won’t need a miracle to be 110 in the next few days.
Wondering why the directors did not sell their stake in one go to another bidder or private equity, considering they want to exit the business. Why did they not wait for Covid recovery to be over and sp back at 140 to realise a better value? There is something more to this company or the directors are being given bad advice. Or they simply don’t care about the company. Very frustrating. I reduced some of my holdings at 92. Although I think this will be back to 100 within a month.
RE: Probably part of the fall....28 Apr 2021 17:23
Really bad day for me as I have significant holding in this and nex as well. Hope tomorrow is a better day and we see some recovery from here. Quite opposing broker views from Hsbc and Deutsch Bank today. Some uncertainty but I think patience will pay. My expectation is 140-150 by end of the year. Good luck to all holding this.
The owners plan to reduce the holdings in a 10 year period by then they would be 88 and 77. So nothing wrong with the planning. Should be back up to £1 if not by tomorrow then in the next few days imo.