It is a mystery, but then isn't the market always. We gather pieces of evidence and often they have little to do with the sp. I know IWG is often compared to the insane valuation of Wework as making it good value. Is there any merit in comparing IWG to Workspace which has a PE ratio of just 13, whereas IWG's PE is 33. I suppose its good that the company can maybe speed up its repurchase scheme with shares at this level. Still someway to go with that.
SoftBank wrote down the value of its investment in WeWork by about $3.4 billion in the second quarter.
"The perception is that SoftBank is being dragged down into the quagmire of WeWork," said SoftBank's founder Masayoshi Son. "I am looking back with true regret about the mistaken investment moves that I have made."
AIM has been a have ago directors playground for a considerable few years. With very few exceptions (like about 6 companies) they don't work particularly hard. They get salaries in the hundreds of thousands. A disgrace is the very polite way of putting it. Its a shame because it was great idea to have a fledgling market. Unfortunately like all great ideas without proper regulation it gets used and abused, and now as a former director of a satellite communications company has said it would be impossible to raise the amount of money he was able to on Aim such is the deterioration of its reputation. NOP/CAB's only real attraction wee the prospects of fields in the waters of southern Italy. For whatever reason Shell have been dangling a carrot in front of NOP/Cab for twenty odd years. NOP's geological director was absolutely convinced there were and are some massive oil and gas fields to be discovered. In the end thanks to Italian bureaucracy they never got the chance to drill. Bizarrely they did get a chance off the coast of Gyana in partnership with Shell, Total, Tullow and their minnow partner Wessex. It was almost scuppered by the French government who hysterically were against it on environmental grounds. The first well looked very promising which resulted in a very good offer from Total to buy out the small guys. It was too tempting to stay on board and go for the next 2 drills at about £100.000,000 a pop. It all but wiped NOP out and did Wessex. They did not fulfil the initial promise. After that they have been scratching around for income for something less risky but could not even match their original marginal income from gas production in Holland. There have been worse exploration companies and it could have been a completely different story, but they must hold the record for the longest loosing streak and the fewest amount of wells actually drilled in the history of oil companies. Sorry for all the CAB losses added to mine earlier on with NOP. Some of us did try to warn about the this company. At the very least there should be some investigation. Unfortunately there are too many on Aim in need of that and too few regulators. The success for oil and mining companies on aim is probably about 1 in 100. Not great odds
Many thanks jsul. They have made 29 purchasers since The latest buy-back program and already had a substantial amount in treasury. Think I've calmed down now. The discrepancy in the fundamental and share trades between ADFVN and LSE is quite absurd. LSE take up to six months to update some company info. Many investors seem to pay for and advise to get order book info. Thinking I might try it at some stage. I am pretty concerned about the state of global economies and unrest. 20 years ago the kind of news we get everyday now used to wipe billions off the markets, now it seems they only blink when Trump tweets. Gl all
Thanks 50Glass. Another 250,000 today, but it does not alter the rns statement about the buyback, Further to the interim results announcement earlier today, in which IWG plc ("IWG" or the "Company") announced its intention to commence a £100 million share buy-back programme. So they are now on target for a £400,000,000 buyback program. I think I would rather they had got the debt down. Unless they have some good deals to pull off soon to drive the sp up to nearer £5.00. Alas cracks beginning to appear in many companies in different sectors of global economy. As previously stated I think there will be some good buying opportunities by next April.
Did they mean 100,000,000 shares or £100,000,000 share buyback (as per res AUG 6th), cos somebody better tell their broker 34,000,000 + shares purchased at around £4 per share = £136,000,000 approx and they actually have over 900,000,000 in treasury now.
So Pru and M&G demerge which results in Pru reducing stake to zero from 7% but M&G take 4%, whilst across the pond Softbank take 80% stake in WEWorks. Is the market slightly rattled or just confused.com?
It doesn't in a normal market, whatever that is. Everything is in limbo at the moment. I'd say hold on for now as I think there will be plenty of buying opportunities appearing over the next few months
In the process of reorganisation. Some exiting ideas in pipeline. Just not a great climate for risk which this is. However with well covered 6%+ div hard not to pile in which I have been like some directors with their own dosh . Unlike some companies where directors are entitled to free or subsidised shares. They should all take the same risk as investors . GL
Has been a great trading stock I admit and likewise have done ok getting in and out of this. The tweeting trump factor is not the drive in volatility now. Reality check has taken over. Companies with big debt and unresolved portfolio issues coming a lot more into play. I didn't see theist rise coming, but probably mostly down to the small amount of stock available to PI's. Great parts to the business but some real dogs too. Not sure trading this is going to be as simple as the last six months
The nub of it 'down across the board'. The Dow continues on yesterdays downward trend.Normally I would buy a bucket load of SMT, and maybe stock like this. Decided to take all my money off the table last week. Makes me feel easier, but am aware it is almost more dangerous to be out than in. Just too many extenuating factors around at the moment. If Boris does pull off a deal could be some kind of bounce but even he admits there are some 'hard miles to travel.' Today's falls certainly do not look like a buying opportunity as of previous falls almost entirely due to Trump tweets. This looks like a market facing reality at last.
Thanks Mike. That explains a lot about sp movement. 2% Pi is a lot less Tham I thought, in fact a lot less than most companies. RTN and VP. being another 2 companies with low Pi shares and yes volatility can work both ways! I figured there was low liquidity today when I tried to buy more and the spread widened and only negotiated trades on offer.
Sorry I read it as part or all of holding. Maybe different source. Avst recently had holder selling 12% of its stock at a prearranged small discount. Rocked the boat a little but soon returned to original trading price. I think the double timing of possible sale of stock and regulatory tightening, plus Friends Provident reaction to that news has conspired to rather large overreaction here even if some commentators say AMGO has its glory days are over. The figures still look pretty good to me.
Trying to find out who the other institutional holders are. The FT says there are only 13 holders owning 24% . Don't even mention Richmond's 61%. If its that as well as the others 24% then PI's are a very small % which would have an effect on SP volatility
Mtro probably is not helping finance stocks either at the moment. Inevitably stocks get way oversold on the kind of news but the fundamentals look sounder than many, as Beevorma says have to wait and see, but a very good hold with safe div.