George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
At the moment I have two core holdings, this and one other. They both had great rises early on and have dropped back to almost flat (the only stocks that have done this on my entire watchlist).
The only consolation here is it didn't drop as much as the other one which was up nearly 15% at one point. I think I'm a curse.
ASOS has already responded to the specific news from May and stated at the time that it's across the industry and isn't actually impacting them. This goes to show they were telling the truth and those that tried to make out it was ASOS specific were wrong.
It appears today's reason to be down on ASOS is the potential for interest rate rises.
One thing no one has mentioned though is that surely this makes the recent debt renegotiation which secured liquidity at a fixed rate that much better. Those stocks who need to renegotiate rates in the short to medium term are likely to be the most at risk here in my opinion.
Google Finance is showing this stuck at 15p. Even it can't understand the size of this drop 😂
Look at the news at the top. It's in today's update
Only an 8 bag from here then...
You never know, this could be the time they get it right
That's why I'm puzzles, thought I might have missed something. This is crazy cheap for the back catalogue and IPs alone in my view, someone would probably pay this just for the Hello Neighbour brand.
Same here
Surely the back catalogue is worth more than the current Mcap now? Wouldn't surprise me to see another big studio mop up a load and then try to force taking it private.
Now I'm feeling sorry for myself too.
Have they actually released numbers though? Can't see anything in the RNS on here.
Sorry to see where this is at. I was in here last year and lost out with a drop from circa 120 to 112. Regretted selling at the time as it went back up after results. The target price for the stock at the time was 200 and it was being ramped in national press.
I've just bought back in at nearly 3 times the holding I had previously. This stock is incredibly undervalued now and the fundamentals appear even better than they were last year.
Again, I'm really sorry for those who've been here a while, I know what you're going through having experienced it on far to many occasions.
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saturday june 17 2023
Frasers Group increases stake in resurgent Asos
Asos was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomethings
Asos was regarded as a trailblazer for fast-fashion thanks to its focus on twentysomethings
ASOS
Isabella Fish, Retail Editor
Friday June 16 2023, 12.01am, The Times
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Asos’s cost-cutting efforts have pushed the online fashion retailer back into the black, prompting a share price rally and speculation of a takeover by Mike Ashley as his Frasers Group lifted its stake for the fourth time in a month.
Total revenue at the retailer slipped by 11 per cent to £858.9 million in the three months to the end of May amid a 14 per cent decline in sales in Britain, its biggest market. The group said that the drop was expected and reflected “deliberate actions on capital allocation to improve profitability”.
Asos saw active customer numbers fall by 800,000 over the period, with the group claiming this reflected a “continued focus on improving the profitability of sales over the pursuit of growth at any cost”.
However, in an early sign that its turnaround plan is beginning to bear fruit, bosses said adjusted pre-tax earnings were up £20 million year-on-year, with the group set to meet its earnings guidance of between £40 million and £60 million in the second half.
Profit per order was up 30 per cent, inventory levels shrank by 15 per cent and adjusted gross margins increased slightly, by 0.035 per cent, as José Antonio Ramos Calamonte, chief executive, prioritises profit over top-line growth. He announced an overhaul of the business model last October. The shares, which have lost 71 per cent of their value in a year, closed up 48½p, or 14.7 per cent, at 376½p on the return to profit.
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Asos was regarded as a trailblazer for fast fashion thanks to its focus on twentysomethings and its swift service, which helped it beat bricks-and-mortar rivals. However, valued at more than £7 billion two years ago, the company was ejected from the FTSE 250 this month, hit by supply chain issues and the rising cost of living.
Last month it announced a first-half loss of £290.9 million on revenues of £1.8 billion. Its net debt grew to £153 million by the end of last year after it purchased too much stock; it has since cut inventory by 15 per cent.
Yesterday Asos said it had secured £200 million of cost savings and profit efficiencies so far this financial year.
Frasers Group lifted its stake in Asos to 10.6 per cent, which would allow it to block a potential takeover bid. The group started building its stake after it was revealed by The Sunday Times that Asos had been approached in December by Trendyol, a Turkish online retailer