Member Info for lordloadsoflolly

Agricore - the market frequently overreacts to the downside as well as the up. And I'd agree today's market capitalisation of TEK does look undervalued. But to then take each holding's peak value and try extrapolating a "fair" potential price for TEK from these is misguided IMHO. None of the four holding's peak prices occurred simultaneously, for starters. And in the case of LUCY, it was caused by short-lived euphoria shortly before their IPO (& look what's happened to their price since). I can take it if you were classifying me as ane of those "seemingly "get rich quick" schemers bemoaning their special dividend". About 9 months ago, Clifford clearly implied the four holdings would all have IPO'd or been the subject of trade sales within 18 months, leading to some form of redistribution to TEK holders. Either that's now changed or he needs to get his skates on. The market clearly doesn't see any payback coming any time soon, or it wouldn't value TEK the way it is currently.

Have to say I'm with Senator1 on Nvidia. Sure, Cathie Wood sold out too early back in January 2023. But Nvidia's price has more than doubled since then and it's hard to see value at its current level. As Senator1 says, it's not in SMT's nature to trade tactically. But I think many have a feeling Nvidia's in a bubble right now. If the fund managers deem Nvidia a long term play, there'd be no harm in taking a bit of money off the table now (say a third or a half), then reinvesting it if Nvidia drops significantly. And if it doesn't drop, they'd still have a decent holding left to let ride. There's a lot of talk of AI regulation right now. And Nvidia isn't the only player in this space. So if AI's allowed to grow unchecked, competition is likely to increase. I'd certainly be twitchy if 3% of my own portfolio was invested in NVDA right now. Just look at the 1 year graph. Vertigo-inducing rises like that generally don't last long.

Wildbunch - can't be doing with you any more. That's all.

Senator1 - you sure about that? According to the FT, top institutional shareholders own 23.16% of SMT: hTTps://markets.ft.com/data/investment-trust/tearsheet/profile?s=SMT:LSE

Lambo222 - oh dear, I'm REALLY worried now, as you've just told us all: "There won’t be any buying ... until they announce the fundraising. That’s what I have been told by high profile investors." So I guess you'll be looking to buy back in now then?

In out, in out,

Shake it all about

Wildbunch - even you ought to be able to multiply 4p-30p by the number of shares in issue (333.4M). In case you've lost your abacus, the answer's between around £13.3M & £100M. That's all.

Agricore - Your point 2. Glad you're happy with the way TEK is currently being run. It's certainly helped the share price of late, hasn't it! Your point 4) Ultimately, sentiment is ALL that counts when it comes to any share price. You say you're "optimistic about TEK because of its underlying and growing value and progress". When I Iast checked, optimism was simply a sentiment (or hunch) much like any other. The sum of TEK's parts might be worth more than TEK's whole right now. But that doesn't mean sentiment will necessarily change. Discounts to NAV are relatively commonplace, mainly demonstrating how confident (or not) investors are in future prospects at any given time.

Wildbunch - you're right, I'm not Nolupus. 4p - 30p, that's all.

Wildbunch - though I'm not Nolupus, I think I can safely answer your question. Obviously, IF a drug is eventually brought to market, IMM's share price will be several multiples of its current level. However, everything hinges on the word IF - and the current perceived likelihood of successful commercialistion - which is why the price remains around the 3p mark at the moment. Cash runway - at least beyond 2024 - remains a concern here.

Bumblebee1 - the market for small companies (especially”growth” tech ones) is pretty dire right now. And TEK has certainly suffered from this. Conditions will eventually improve as inflation drops & interest rates stabilise, before eventually also falling slightly. But it’s anyone’s guess how soon. UK inflation is proving more embedded than many had thought & hoped (me included). If Microsalt IPOs on AIM this year, limited risk appetite may mean any initial euphoria & froth soon disappears (just as Lucy’s did in the US). Personally, I won’t be selling right now as I doubt we’re that far off the bottom. Equally though I won’t be adding, as there’s just too much risk for this type of stock in the current bear market.

Agricore - you may find my posts negative. I say they're factual. Fact - TEK has lost over HALF its value this past year. As a majority shareholder in Bell & Lucy, do you honestly think they could sell up (or even significantly reduce their current holdings) anywhere near the combined 18p market price you mention? Of course not. Which is why, as I've said til I'm blue in the face, they should have built in a reduction sale mechanism at IPO stage. Not at some indeterminate future date which no-one has a handle on - or necessarily even believes any more.

Not one of her better moves, given that Nvidia's share price has more than doubled versus January's average.

Agricore - all well & good, but there's usually a good reason for a high discount to NAV. I'm not saying the market never over-reacts (on the downside as well as the up). But currently, investors just can't see where the exits are - i.e. how & when any paybacks from TEK's holdings are to be generated. IPOs don't seem to be the answer. Both Bell & Lucy have shown that so far. Even the more positive posters are now saying TEK is a longer term play. And in a market where earnings visibility & certainty are increasingly important, that's not a good space to be. Which is why TEK's SP continues to drift.

We're certainly due one TopCatz!

I personally would NEVER regard SMT as a defensive play. True, the discount to NAV is higher than average right now. But that doesn't mean it couldn't widen further. Not saying it will. But there are already plenty of ITs with far higher discounts than 20%.

I'd far prefer a trade sale for Microsalt. IPOs have got us precisely nowhere re: TEK's valuation.

FlagStaffIR - every PR article you highlight causes TEK's price to fall further. Please stop!

Best charm offensive of all would be a slow & steady share price re-rating. Here's hoping!

Encouraging though it may seem, I don't think you can read ANYTHING into SMT's slight price recovery over the past few weeks. This should always be viewed as a long term investment (5 years +), so short term fluctuations are simply white noise. That said, better than the price going down all the time, I guess!

Lambo222 - phew, that's alright then. For a moment there, I thought you were scaremongering.

And now, back to the music.......

.... IN OUT, IN OUT, SHAKE IT ALL ABOUT