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The quiet guy
Fully agree with your observations. SMS nearly destroyed WPP and him leaving under mysterious circumstances handed the company a lifeline. After that its organic growth was impressive. The company needs an Archie Norman character who understands how to run businesses. He is straightforward and treats people with respect. He has certainly turned round M&S.
Obviously the short from Marshall Wace is having an impact. I understand South Korea has put a temporary ban on short selling until June 2024. Their markets are now performing significantly better as a consequence. I would ban short selling.
When I receive Dividends from shares I just purchase physical gold presently. Equities are a minefield with interest rates being as high as they are now.
JAdams
I am also a short seller. Glad to meet you.
Culpepper - Fully agree the chat site ADVFN is populated by obnoxious disrupters who don’t add any real value. The same applies to other company share discussions. Short sellers continuously carpet bomb these chat sites.
While SMS holds the golden share ticket a bid is a remote possibility. His ego is huge so will not want to relinquish control of the business. He might throw in the towel but this would be an admission of failure and that is not in his makeup.
The financial management of the company has been derisory. I suspect the company would have been in a stronger position at this point had its financial controls been optimised.
BrokeNSmoke you are correct.
SMS believes he will lessen the pain of forthcoming bad news by not declaring a reporting date until last minute. Not being transparent concerning the reporting of results does not fool anyone. The current CFO does not appear to be any better than the last one. Very depressing.
Still no mention when Q3 results are expected. Well managed companies have fully populated financial calendars. The CFO might have a ream of financial qualifications but she hides it well.
Of course they might be trying to be shifty. The markets are wise to such moves.
I accessed the S4 Investors web site and the financial calendar is still not being properly populated. It states TBA against Q3 results. Please can we have firm reporting dates. It’s not too much to ask. I just believe the financial management of this company is amateurish.
Hardboy- point taken.
I just wonder why 888 issued two virtually identical profit warnings in such a very short space of time. Obviously they don’t mind destroying the share price by making it open season for the tardy short sellers.
Takeover is a a distant possibility until SMS relinquishes his golden share ticket.
SMS is a good ideas man but it needs someone to properly manage the finances. The company has been woeful here. I am thinking back to WPP.
Not having a fully populated forward looking financial calendar plus the issuing of unreliable forecasts with very frequent profit warnings does not engender confidence that the company is in control. Indeed it comes over as all a bit shifty and the city are wise to this.
My big concern is that the SMS ego could trump any rational thinking of what is good long term for the company.
There was me convinced from their trading statements that a significant proportion of the loan was at fixed low rate of interest.