RMG IDS17 Jan 2023 10:28
The scale back in the RMG flotation was annoying at the time and we only got a paltry allocation (x6) as a family as the price ripped up on the opening day. Everyone wanted in on the action and the employees got 10%
330p and near £5.50 when I dumped the small holdings and thankful at the share price retraced towards £4 to have another crack at a much larger holding and then repeated the run towards £6.
RMG has been in decline for so long and needs streamlined. Everyone loves a their postman and in a rural setting may be the only person one sees in the day.
The service is essential to those who receive only one letter a month.
The Unions are destroying what is left here and the newsflow is so negative. Althought the price is recovering of covid lows of around £1.26 - I bought sub 160p and rode it towards £4 missing out once again on the top, yet again over £6 this share has been kind to me on the rare times I hold.
I have bought a few this morning (1st tranche of 10) which I will pick up should the price falls when the huge reported 750m loss or more is released.
One to watch
There is so much upside here in due course IMHO with the strike resolved, some improvment in automation (no brainer if they do not get this past the unions then there will be a lot of redundant postal workers), the hack, the 2m daily loss headlines.
Gut feeling it that this will be a recovery stock again or a take out, carve up or a split in 2 and it will go from strength to strength. Just do not know how low it will go.
Intend to build up a position of around 30k shares as the price drops (or if it doesn't then be content with what I got this morning.
10% 225
10% 210
10% 195
30% 175
40% below 160
That is the plan so sharp falls welcome and let the game commence - looking for a sub 180p average. But happy with a holding when it turns up.
Not a recommendation