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Fish, you are overthinking this one & too focused on the ticker. This will push you into a panic sell. Ask yourself the following questions: 1) is the business fully operational day to day?; Has anything changed fundamentally with the day to day operations recently?; Have they been making lots of redundancies?; Does it have enough funding at least in the short/medium term? When you bought your first tranche of these shares, why did you choose this stock? & bar the SP what has changed & can that be reversed?
Looking at the daily ticker will drive you up the wall. Best avoided!
Shorts come. They squeeze all the shares out of panic/distressed sellers hands on the cheap. They then leave having gone long and watched those lovely cheap shares head to the sky & the beleaguered seller looks on in dismay. Hold on tight to your shares!
Best not to concern yourself with it if you're already invested as nothing you can do. An opportunity for buyers when they do a raid on the SP though. It is what it is. Doesn't change anything what has already been discussed really. Not based on anything new & happens on loads of shares!
Fundamentally what we have here i think is a good, solid business which quite simply is not making profits , it's making a loss & is servicing a large amount of debt (which it always has done) but now in poor macro economic conditions. It is not expecting to make any profit until 2025 earliest. There is currently little reason for buyers to buy into this share. It really is fertile ground for the short seller to flourish. Much as it's frustrating watching money evaporate seemingly daily i think it's important not to lose hope & panic sell. When this does turn it should turn big but people nee to hold their nerve. I've always taken a 5 year outlook here so will review in 2027. Keep the faith ( & your heads)
Yes, agreed a disaster & my worst investment by far. Hoping for a Kin & Carta day here & ruing the day i didn't move a chunk of these into that when it was 60p. Instead i sold what i had with the takeover profits & threw it at this dog. Ne'er mind. 2025 isn't that far away!
Smokey, The levels being touted on here are silly. I doubt they'd be interested in anything less than140-150 as a serious bidder even that seems ridiculously low. The SP here was 92 p just a couple of months back. The underlying business here is running in much the same way as it was prior to the pandemic as i see it. All businesses are fully operational. This company should be profitable & earnings should be much higher. That has not happened mainly due to management failures IMO. Poor due diligence on contracts; pathetic margins & ROCE etc etc. All these things can be turned around with the right leadership. I think the new CFO could be a turning point. She won't have been given the job after a cuppa & a half hour chat. She would have had to now what she's coming into & probably present to a few board members. I personally think it's sad where this company is at. This is a great brand. A household name. I get it that a lot of peeps on here want a bid. If you've just bought in it's a quick earner but i think this business is worth far more. Cosmen knows that too. Let's face it. he's going to be more underwater than most on here but i don't think he'll be worried will he.
LW, yes the shorts here are really fairly miniscule but an increase isn't good obviously & marshall wace have a habit of getting it right. However i suspect they are well hedged against any short squeeze anyway. It's to be expected anyway given the current state of play. Personally i don't think this week has been too painful overall at least it could have been much worse. The nationalisation stuff sounds like desperate propaganda from the Tories & nothing more to me given it's an election year!