Member Info for MarkBellUK

PS Shorts look to be closing (again) given the price action on the order book

FYI lonlon is a known shorter (dirty)

SP holding very well .. remember its up 72% from £2.05 on November 5!!!

Seen as I know you all love brokers:-

INVESTEC RAISES MICRO FOCUS TO 'HOLD' ('SELL') - TARGET 350 (325) PENCE

Forget Credit Suisse

Oh thats a bit naughty thanks Tomo

Why is this being sold off? Did the market expect better than 17.9%???

Especially given it opened at 353.5!

PS Very happy with the order book...looking like the sellers really have dried up

Your move shorters

The clouds of Covid-affected half-year results during the summer at Micro Focus were lifted yesterday when the software specialist issued a full-year trading update that was better than the market had expected, triggering a sharp relief rally in its share price.

The Newbury-based, FTSE 250 company said it that it expected margins to be at the upper end of its previously announced range and that it was making progress in its three-year turnaround plan.

That was in stark contrast with a $1 billion statutory loss at its half-year results in July, after it wrote $922 million off the value of its portfolio of software businesses, and its shares promptly rose by 84¾p, or 31 per cent, to 356½p, their highest level since July — though far short of the £11.32 price in January and £27 three years ago.

Micro Focus specialises in prolonging the life of the software used by banks, retailers and other businesses to run their back-office system. Trading has been hit by the pandemic as clients have been reluctant to renew maintenance contracts, but the decline in sales slowed to 9 per cent in the second half.

It has expanded over the years through large debt-fuelled acquisitions, breaking into the FTSE 100 at one point. It said yesterday that net debt stood at $4.2 billion as of October 31, down $400 million from a year earlier.

Stephen Murdoch, 54, chief executive, said: “We are now nine months into our three-year turnaround plan. Cash generation and working capital management remain strong [and] the investments we’ve made are showing encouraging early results.”

Thanks Mr Banker..quick look at Jubilee's fundamentals and it seems interesting. Only issue I have with a small cap is liquidity

Will have a nosey at the book in the morning

Yes its just updated:-

2.23%

? -0.11%

Tue November 17, 2020

Bet they have reduced today, will be reducing tomorrow and the day after and the day after..you get the picture

I feel other short funds will follow suit ...$552+m clear profit is not to be sniffed at

Wouldnt that be nice 550 in auction @+ 102.43%

Most PI's dislike/ignore/discount broker ratings and I fully understand why. I use them to a varying degree. However on some stocks they can make a massive difference. Especially on stocks that have large institutional holdings/ short interest

PI's ignore but institutions (mainly because they are lazy) use them

Tomorrow will be interesting but my guess is that it will push on the 200ma / resistance c379

Contemplating re subscribing to the premium here with the pro news. The L2 here is rubbish but the pro news is worth its weight in gold (2rd only to a bloomberg terminal or Reuters Eikon)....any broker ratings come through quick in the morning and generally worth having

Clemoc Im deliberating that..I think we might hold 350..but its a complete educated guess looking at the intra day 15 min chart

Oh I have no idea on USA markets...dont have their live data, L2 and hence the DMA..something I probably should have done years ago

Only orders on the SETS book affect the share price (i.e pre 0750-0800 and post 1600-1630 auction and live market 0800-1600 )

YES..in fact Ive just added this to my SIPP for the first time (I already hold many as normal stock)

So in affect im averaging UP now...which im only ever done before on PLUS500 (and made £54k)

Thanks Rogue

and this:-

https://ibb.co/j3hFFQr

Anyone have any more up to date broker data..all I have is:-
Date Broker name View Closing price Old price target New price target Broker change
10-Oct-19 Barclays Equal-weight 1,063.80p 2,000.00p 1,130.00p Reiteration
03-Sep-19 UBS Buy 1,113.80p 2,050.00p 1,530.00p Reiteration
10-Jul-19 Citigroup Sell 1,753.00p 1,700.00p 1,700.00p Reiteration
08-Jul-19 Barclays Equal-weight 2,097.50p 2,000.00p 2,000.00p Reiteration
16-May-19 Numis Buy 1,875.00p 2,350.00p 2,350.00p Reiteration