Member Info for Mando_

@Ian.B

From the Financial Times yesterday

"Harriet Agnew and Bryce Elder in London NOVEMBER 2 2021
BlackRock, the largest institutional investor in THG, has sold almost half of its stake in the UK ecommerce group after a sharp fall in the share price in recent months.
The world’s largest asset manager sold 58m shares in THG at 195p per share, according to bookrunner Goldman Sachs, a 10.3 per cent discount to the closing price on Monday.
As of October 13, BlackRock owned a 9.55 per cent stake in the group across multiple active and passive funds, according to Capital IQ data, and was the largest investor after THG’s founder and chief executive Matthew Moulding, who owns about 15 per cent of the company.

BlackRock’s active funds bought into THG before its initial public offering.

One person close to the asset manager said “We still support management and remain invested in the company. We believe in the stock’s fundamentals and there have been improvements on the governance side.”"

*800k units and 450k units

@yrabsmurruc
Completely agree.
My reading of the charts today.
Initial spike to 200, then about 800 units bought between 191p to 195p. Selling pressure then dropped and pricing ramped and about 450 units sold above 195p, peaking at 199p, now I expect another period of trading between probably about 193.8 to 195.5 for maybe the next half an hour depending on volumes traded, then hopefully another ramp up, maybe to 197/198, but hopefully above 199. I can't see many more wanting to sell below 194 now.

?
Of course it will be denied, probably from both accounts lol

People fearing the recent share price drops, or worrying about the growth coming from this company longer term, check out the number of roles they are currently recruiting for to drive continued growth :-)
https://www.thg.com/job-search/?gh_src=e1b72a62teu

Sorry. Just posting to refresh my page. This site doesn't always refresh chats well, despite attempting hard refreshes of the page...

lol ok nuri - Time will tell. Luckily posts here can't be deleted, and as many have already said, your posts normally age very badly.
Have you considered that you are maybe incorrectly associating causality vs correlation.
i.e. the timing of the drop correlated with BR selling off their whale stake following the end of their 360 day lock-up period which ended the 16th September, which was also the date of the very successful earnings report. Inexperienced retail traders feared there is something wrong with this company due to the price dropping when they expected incorrectly that the price should rise on such good news, they sold, and caused a stop loss downward spiral, taking out more and more fearful retail traders, whist institutions bought up the shares and laughed at us.
There's a reason most retail traders lose money in the stock markets. Fear of losing their own money. Its all about psychology.
Softbank have valued Ingenuity alone at over $5bn. This is shown in the reports when they agreed with THG the $670m investment deal based on 19.9% of a potential sale of Ingenuity in the future. They have put a non-exec director on the THG Board for regular reporting and to ensure their investment remains on track. They believe they can use the platform to help their many other customers, so they baked this into their company valuation. They valued Ingenuity higher than the current market cap of THG as a whole. I trust SoftBank more than I trust you.
Good luck though :-)

Lots of negative comments made yesterday have aged poorly right now with the price up over 5% on yesterday's low.
GLA

I just bought another 3,000

@Goldy - Definitely a doable recovery.
I'm holding at an average of 212p now, with 33.8% of my portfolio invested. Like BlackRock, I want my position to come down to about 10% when I'm in some profit. I'm hoping by the end of this week/next week, but I think there are still a number of retail traders panic selling based on the media fud. I bought about £10k at 192, 194 and 196 yesterday and sold at 198p yesterday afternoon, and I continue to buy each dip to average down my position.
Good luck

.

@nuri
Clearly the market trying to shake out small retail investors this morning before the price goes up. I recommend you close out your short positions if you can.
Good luck

Positive outlook comments from the Fed yesterday.
Confirmation BR has now sold it's pre-IPO bought stock.
Fair value of THG at least 240p-270p based on 5 year outlook, still considerably low compared to US company price to earnings ratios.

People need to remember BlackRock invested in THG since 2014, long before the IPO, where they probably paid the equivalent of something like 10p per share for the business. People seem to think that 195p is them selling off. It's not. They very likely would have made a huge profit at that 195p. The fear mongering is incredible. Other institutional investors/fund managers clearly bought the company up at 195p and BlackRock still hold a 9.55% share of THG, which is still A LOT for an institutional investor!
The likelihood of THG dropping further below 195 is very unlikely based on the valuation of the company. It is only market fears or huge negative news which would push the price down much further.
It was the poorly executed media reports of BlackRock "selling at 195p" when the price was 220 and the deal was already done, which sparked the decline this week.

That's just normal practice for any investment company. Cathy Wood's investment portfolio often sells down on Tesla. BlackRock invested pre IPO. This is simply them taking the planned profit they wanted by floating.
Contractually, they were not allowed to share their stock until after 16th September, 180 days after the IPO. This is a normal lock-up period for whale investors, so the can't sell out early for a quick buck. Now they have sold the stock they wanted to sell and still hold a sizeable amount in the company with a goal to make long term gains.

"Harriet Agnew and Bryce Elder in London NOVEMBER 2 2021
BlackRock, the largest institutional investor in THG, has sold almost half of its stake in the UK ecommerce group after a sharp fall in the share price in recent months.
The world’s largest asset manager sold 58m shares in THG at 195p per share, according to bookrunner Goldman Sachs, a 10.3 per cent discount to the closing price on Monday.
As of October 13, BlackRock owned a 9.55 per cent stake in the group across multiple active and passive funds, according to Capital IQ data, and was the largest investor after THG’s founder and chief executive Matthew Moulding, who owns about 15 per cent of the company.
THG, formerly known as The Hut Group, floated at 500p a share in September 2020. A post-listing rally took the stock to almost 800p. However, its shares have been under sustained pressure in recent months, reflecting investor concerns about governance, strategy and valuation.
BlackRock’s active funds bought into THG before its initial public offering. One person close to the asset manager said reducing the stake reflected “prudent risk management as the stock has fallen”.
The person added: “We still support management and remain invested in the company. We believe in the stock’s fundamentals and there have been improvements on the governance side.”"

Let's hope that's true.
As I said earlier today. Blackrock held 143m shares and reduced down to 134m 23rd September as reported in an RNS here)
https://www.lse.co.uk/rns/THG/tr-1-notification-of-major-holdings-sbvtxdc6ajka6xs.html

Blackrock according to Morningstar still hold at least 83.5m shares across 4 funds.
https://www.morningstar.com/stocks/xlon/thg/ownership

So 143m minus 83.5m means they have already sold of 59.5m shares since the end of the lockup period.

Morningstar reports also on the buys and sells in the links. Institutions have been building their positions as private investors have been dumping stock due to fear of losing money, whilst major institutions with loads of free capital were buying up stocks...

Praying for a step up starting tomorrow.
GLA

@pokerchips. Ok, apologies. It may not have been a scam. I was a very new investor back then. It was I think the 3rd stock I invested in, but at a very very low level off the recommendation of a friend without researching it. Whenever I tried to research it, it was impossible to find anything about the company bar reports fastjet had released to the media or via RNS. It may have not been a scam, but with the regular SP splits and steady decline of the price from IPO it definitely felt like one at the time.
I agree with @ValuePlay that THG has similarities with Ocado

@cmcc I agree, I would expect so. But with the share price so devalued since the end of the lock-up period, I believe it would probably be in their interest to do so.

lol I remember fastjet. I put £500 in once when it was rumoured that Stellios from EaasyJet had invested in the company. It was hailed as an African version of EasyJet. I put in another £500 and doubled down. I lost it all. It was clearly a scam. Out of sight of investors and impossible to evaluate as a business.
THG is nothing like FastJet. THG has warehouses, logistics, websites, customers, and actually revenue which can all be clearly seen.

@nuri
lol again. In the beginning of Amazon and Tesla they both were unprofitable for some time as they ramped up growth. That's why you have investors such as BlackRock and things like IPOs
SMH