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You need to read the news properly. Con will still be CEO until AGM 2020. There is nothing much horrible on the report. Dividend cut, poor cash flow was already expected and priced in due to regulation and other external factors. Important factor to look upon is - Outlook. They are more positive on H2 and the cash flow will be very strong on 2020. So this should push the share price higher.
They have sensibly cut the dividend to 5p. All looking good for Centrica. Now that all getting clear with price cap effect etc, share price should soar.... Will that be by 10% or 20% only market can tell..
Looks like 100p open as they met what HSBC wanted for share price to improve i.e "HSBC says to improve share price, CNA needs to cut dividend, reduce churn in British Gas and reassure that cost cutting would lead to higher margins for 2020"
Happy days for holders .. LOL!
I take that back. LOL! .. cannot short now as results are due tomorrow plus Utility sector is up by over 1% so far. Perfect day for centrica to close above 92p. And if results are better than expect 100p + , otherwise 80p and below open on Tuesday..
Looks like Conn will be sacked amid profit warning. FTSE 100 relegation seems to be now guaranteed. Conn still hold huge amount of shares so he will have hardly anything to lose. I think it will be 70p open on Tuesday... LOL!
LOL! It does not matter I show you my short position or not... I am enjoying my ride for now.. I hope you may have your turn.. Unfortunately, the fact is all
I mentioned about share price drop has happened.
Good luck.
This is now getting very serious... My predictions for the results are Profit warning!, Centrica losing many more customers than expected, dividend will be completely removed, Conn to step down. This will make the share price drop to 20% and below to most likely 62p as others discussed here.. . Unfortunately this will mean, centrica will be relegated to FTSE 350 and share price will suffer badly further. Although I feel sorry for long holders, I am happy with my short position. LOL!
" You need only look at his predictions which are more often than not wrong and the fact that he has frequented boards with consistent drops - VOD, DEB, CNA"
LOL... All went down and still falling as I predicted with DEB going bust..
"I'll wager that he doesn't actually hold any shares in anything as he probably got burnt on something in the past so takes pleasure in the fact that others are losing money like he did"
LOL.. I dont take pleasures... I always keep myself happy irrespective of any situation.. It works most of the time for me and I am mostly lucky.
Wow.. above 88p close.. the pattern has changed. but still did not make good progress from 85p. Hopefully next week we will see new 52 week low as Short position increased to 1.71% . I am sure they are not silly to short if they do not think share price will fall further.. LOL!
I hope I am wrong.. LOL!
Marshall wace increased their short position on 2nd July at 90p and pushed it right down to 86p which is almost 5% with only 0.60% short.. now at 87p , how easily for them to push it to 80p with slightly more short position..
Well done centrica for 1.51% short positions.. LOL!
The same guy now says will this go to 110p? LOL.. Motley fool make investors fool.. Here is the link for you..
https://www.fool.co.uk/investing/2019/07/02/is-the-centrica-share-price-heading-for-110p-again/