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What a drop. And just this morning Bloomberg were saying "Centrica Set to Storm Into FTSE 100 With UK in Energy Crisis":
https://www.bloomberg.com/news/articles/2022-05-24/centrica-set-to-storm-into-ftse-100-with-uk-in-energy-crisis
I'm sure a lot of stop losses got set off and helped pull the price down but I saw todays drop as a great opportunity to get into Centrica.
https://www.woodplc.com/investors/annual-general-meeting
Wednesday, 22 June 2022 at 2.00pm.
Only 5 weeks to go and should have an update on the asset sale by then too.
The chancellor has threatened to hit energy companies with a one-off "windfall" tax if they don't invest enough in new projects.
https://www.bbc.co.uk/news/uk-politics-61420285
Sounds like good news down the line.
The next reshuffle is towards the end of June.
PFC joining the FTSE250 today is due to Ferguson moving it's listing from the UK (FTSE100) to the US.
Ferguson is replaced today in the FTSE100 by Harbour Energy and Harbour Energy is replaced in the FTSE250 by PFC.
Share prices go up and share prices go down.
No one makes us buy a share and we have to accept we can lose money as well as make money when we buy a share.
Personally, if I was holding a share I thought was going to go down, I would sell and cut my losses (or cap my profit).
Some people need to stop looking at the daily share price and winging.
Good luck to all other holders and lets hope tomorrows results are good and give a nice move up to the share price.
This move for PCF to the FTSE250 is not because of the reshuffle.
It's because Ferguson is moving it's listing to the US.
Ferguson will be replaced on the FTSE100 by Harbour Energy.
And PFC will take Harbour Energy's place in the FTSE250.
End result is the same but just came sooner thanks to Ferguson's move.