RE: Opinion poll on brexit2 Dec 2020 21:39
CP85
I was holding Capita initially from 35.5p. It then dropped to near 21p and had to buy more to average it to 30p. However, during these buying and selling periods, I witness the shares flying up towards the high 30's for it to drop back down as the speculation in the papers about Capita being taken over was then rebutted by the BoD saying it was not true and that nobody made them an offer to take them over. Following this news, their interim results came in showing a loss and that they will not making a profit until 2022 and further away. The shares then took a dive to the low twenties after news got out that their planned sale of their ESS and the preferred bidders had pulled out and quoting that the Capita ESS price tag was far too high and needed modernization due to its high use of in-house servers rather than cloud based. Anyway all this up and down of the sahre price was mostly due to the papers like Bloomberg reporting unverified facts about Capita failed last attempt to sell ESS. Moreover, as of lately they re-issued confirmation that they were in an exclusive discussion with the Montagu private Equity guys. However, on the same week that Capita confirmed this new update, the Financial times ran an article saying that the Montagu guys had possibly pulled out from the exlcisive talks due to their offer not being near enough what capita wants. Capita has not rebutted what the FT said last Friday. So, since this past week the Capita twice dropped near the 40.5p mark where I bought then £5k at this price and today sold the lot which was £20K at 31.5p avg and £5k at 40.8p avg. bringing a total average for these two purchases at 33p. avg..I sold today at 46p with an aprox of £9.8k profit overall. It was a stressful short period that I've held on to the Capita shares and to be truthful holding Cines shares was much more fun witha bigger forum to discuss all the plus and minus members views. In the Capita forum chat section, I was the one who mostly released the news when other where just moaning nonsense without factual evidence. Anyhow, if they drop again near the 40p, I will re-buy again and hold unto them. Ciao
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