Member Info for MattTheBrave

I use binance, but only for the 'Earn' functionality and only on Stable coins like BUSD and USDC (stable as they are fixed in dollars). I'm earning 6%pa on this currently. It does mean I have dollar sterling risk, but to be honest, at c1.40, I'm pretty happy to run that bet. It's not actually the most straight forward site to use (though I'm slowly getting there!) but is one of the more reputable.

.....which was already known about.

I love all the UK financials - Lloyds. Lgen, Barc, M&G all decent positions for me and I've been adding in recent weakness. My real winner at the moment though is Darktrace - AI learning cyber security - just did a deal with MSFT (despite MSFT having a competitive product) which speaks volumes I think.

A 'Make America Great Again Horn'? - WTF is that? Or perhaps you mean a megaphone?

yep - I only started a with a token investment, so was happy to top up at 3.15p today.

Interesting - not HCM-linked though, unless I'm missing something.......?

...the first time in history that a large company took a 10% stake in a small company, and the stock fell 10%!!! Bizarre!

The Company won't mind - the key point here is that the deal goes well and is oversubscribed, leaving some investors looking for more. Now that this overhang is gone, it's just another impediment removed, whilst hopefully the HK listing will broaden the spread of investors, with more that are less bothered by anti-Chinese rhetoric. We'll see.

$25.82/£3.70 equivalents for HK pricing.

Ok, thanks Davey. Still a bit weird if you ask me.

On a brighter note, Savolitinib has been approved in China for lung cancer. Just the start for that drug hopefully......

So how have HCM managed to post Q1 results without issuing an RNS on it??

...but always makes me chuckle when there's a whole lot of positive posts, but not a single one actually mentions sales, or profits. You guys realise that this is what'll really drive the price long term, not wild speculation, or index entry?

....this has been, particularly if you added to your position when the stock fell below £1 in March/April last year. Interesting to see a large holder (1.6%)bailing out this evening by way of an accelerated bookbuild. Be interesting to see what price they get as well!

Mickey - Not that soon. Company has end June year end, so we won't get any form of trading announcement until well into July at the earliest I would have thought. Full year audited results unlikely to be available before August

They're good figures and the business has remained incredibly robust through lockdown. However, the price has also more than doubled over the period, so do we think prospects have really improved that much versus pre-Covid environment. Still a lot of good news incorporated into the price to me. My suspicion is that the stock hangs around this level now for a sustained period, or perhaps, we see some pull back. I realise that calling time on a fan favourite like this stock is a tricky call, but I do think there are better opportunities in the UK market currently. GLA to all long-term holders, and well done though.

...and still can't quite get my head around why this trades at ac20% discount, particularly as the Company is now buying back its own shares. In my experience, equity ITs tend to trade at discounts of 5-10%, so seems odd that this one is so large? Still, Just gives us all more buying opportunities I guess!

£1.2m as well - not insignificant for a company that is only valued at £150m, who pays out £12m a year on dividends.

I suspect you mean de-rate, but I understand your point. However, AHT did not grow last year, it shrank, and it will now need to grow extremely fast just to get back to previous levels of activity. Any slight disappointment will see a sharp retraction. This happened in 2016 when the stock fell from £12 to £8 - I remember this well as that's when I bought back in. The stock is on a tech stock multiple, but tech stocks actually grew in 2020. Like a say, a great company, but at this level, I fear the risks are on the downside. I would certainly look to buy back in below £40 (should it ever get there!!).

....but is fundamentally over-priced at this level in my opinion. Even if we assume they can attain a Q4 eps of 50p (that's 50% above Q4 2019 when there was no pandemic), this leaves the stock on a PE of 30x. I think 20x or £35 would be a fair price. The market has fallen in love with AHT, no doubt, but sometimes love is blind.........:-).

good CMC numbers today. Be nice if a pre-close trading statement (like last year) was forthcoming in the near future for IG with similar trends!