Member Info for mick-b

Markets down sharply re-

https://www.proactiveinvestors.co.uk/companies/news/1008664/silicon-valley-bank-stares-down-the-barrel-of-a-bank-run-tanking-shares-in-the-process-1008664.html

https://www.proactiveinvestors.co.uk/companies/news/1008664/silicon-valley-bank-stares-down-the-barrel-of-a-bank-run-tanking-shares-in-the-process-1008664.html

The market mood had soured overnight following a sell-off in US banking stocks.

The four largest US banks saw their stock prices lose a cumulative USD52 billion on Thursday, as the financial sector digested trouble at SVB Financial, a major Silicon Valley-focused lender.

Shares of SVB Financial plummeted 60% on Thursday and continued to fall in after-hours trading, following an announcement the prior evening that it had lost USD1.8 billion in sales of securities to raise funds.

That massive drop rippled through the financial sector, with biggest US bank JPMorgan Chase ending the day down 5.4%. Bank of America and Wells Fargo both fell 6.2%, while Citigroup lost 4.1%.

"The sharp rise in interest rates and bond yields that we have seen over the past year was always going to expose some issues in financial services. For the most part, banks are well regulated and managed these days, but clearly not all of them.

The market mood had soured overnight following a sell-off in US banking stocks.

The four largest US banks saw their stock prices lose a cumulative USD52 billion on Thursday, as the financial sector digested trouble at SVB Financial, a major Silicon Valley-focused lender.

Shares of SVB Financial plummeted 60% on Thursday and continued to fall in after-hours trading, following an announcement the prior evening that it had lost USD1.8 billion in sales of securities to raise funds.

That massive drop rippled through the financial sector, with biggest US bank JPMorgan Chase ending the day down 5.4%. Bank of America and Wells Fargo both fell 6.2%, while Citigroup lost 4.1%.

"The sharp rise in interest rates and bond yields that we have seen over the past year was always going to expose some issues in financial services. For the most part, banks are well regulated and managed these days, but clearly not all of them.

“They can’t run on their governing record, sewage in the rivers, living standards, they can’t run on personalities, so what do they have left? Division, us vs them”

BEEB Question time ....listen to Guy in audience
https://twitter.com/mrdavemacleod/status/1633941352021909504

BRILL......NOMLUNGU
makes Youtubbing pleasurable again!

POW CEO fked off
Continuing my stunning investment success !!

Seatbelts on today. Could be a rough ride

FTSE100 DOWN 1.4%
view live >>>>
https://www.ig.com/uk/indices/markets-indices/ftse-100

https://www.teletrader.com/europe-plunges-premarket-after-wall-street-sell-of/news/details/59615578?internal=1

Knighthood for Johnson's Dad.
Lovely man beat up his wife (RIP)

Gary Lineker has played another blinder against his detractors at the head of the BEEB

Now people are talking about the political bias of Richard Sharp, Robbie Gibb and Tim Davie, placed into the BBC to promote the Conservative agenda

Back of the net Gary!

up to 40 cm now.....
that's 16 inches of misery........

Trading Update (profit warning)

This company makes products for the semiconductor industry. Shares have now given up all the recent "everything rally" gains, and are back down to similar lows as last autumn.

Today it says that FY 12/2022 results are unchanged from the update on 16 Jan 2023.

The problem is with FY 12/2023 -

Weaker demand in H1 2023, with revenues expected to be £30m down on H1 LY (which was £86.2m revenues), implying a 35% drop to only £56.2m revenues in H1 2023. That’s awful, because it was loss-making in H1 2022, so apply a 35% revenues drop, and that suggests a hefty loss is likely this year.

This drop in demand (which it says is sector-wide) is temporary, and should return to growth in H2 2023 (based on talking to customers, and the pipeline).

Outlook - it says growth will come in 2024 from diversifying into new products, which to me implies that the existing products are a dead loss.

My opinion - I was negative (red) on this share previously on 16 Jan 2023, and today’s update just reinforces that negative view. I cannot see any attraction to this share whatsoever, and it still looks greatly overvalued. Is it a viable business at all, I wonder? Looking through the last accounts again, IQE strikes me as a capital-intensive business model, that doesn’t actually generate any returns from its assets. Shareholders get nothing in divis, as there’s no free cashflow being generated, over the long-term.

I cannot imagine any reason why anyone would want to hold this share. There's not even any jam tomorrow excitement that I can see.

https://app.stockopedia.com/content/small-cap-value-report-thu-9-mar-2023-wand-ttg-gfrd-jim-963890?order=createdAt&sort=desc&mode=threaded
(subscription only)

Maybe we get a grant.
From this Government?
Must stop dreaming........

between Stoke-on-Trent and Durham

Unbelievably this was over 60p just A COUPLE OF MONTHS AGO!!!!

iqe....big drop

shocking trading report
My investment skills shows no bounds !!

Showing on auction pre market opening

Stockopedia comments......

My opinion - Well that’s it. This is so bad, that it’s probably game over, or not far off, for this share. The £900m market cap was entirely based on the impressive bookings growth that I’ve been reporting on here since last summer. It never occurred to me that the contract wins could have been bogus, but that now appears to be the case.

The big question is whether it was really a salesman acting alone, and if so, how on earth was that not picked up earlier?

The CEO was in the City only last week, talking to investors, super-bullish, talking about a US listing, and expecting to achieve sales of c.$100m this year, rising to $500m fairly quickly. I mentioned here that he was incredibly bullish, but it now appears to have been hot air.

Unfortunately holders here will, I suspect, have to brace for a 90-100% loss on this share.

Sceptics were right to be sceptical. What a disaster.

Stockopedia comments......

My opinion - Well that’s it. This is so bad, that it’s probably game over, or not far off, for this share. The £900m market cap was entirely based on the impressive bookings growth that I’ve been reporting on here since last summer. It never occurred to me that the contract wins could have been bogus, but that now appears to be the case.

The big question is whether it was really a salesman acting alone, and if so, how on earth was that not picked up earlier?

The CEO was in the City only last week, talking to investors, super-bullish, talking about a US listing, and expecting to achieve sales of c.$100m this year, rising to $500m fairly quickly. I mentioned here that he was incredibly bullish, but it now appears to have been hot air.

Unfortunately holders here will, I suspect, have to brace for a 90-100% loss on this share.

Sceptics were right to be sceptical. What a disaster.