Similarities to HMV?14 Nov 2018 15:11
I think when I first invested in HMV Group circa 2011?.the SP was around £1.60.
They had just acquired Waterstones and Simon Fox was the darling of The City...everything looked rosy and a bonus of a juicy 6% dividend.
Then... Over a period of about 2 years the share price fell slowly, usual things such as difficult trading conditions, the Waterstone acquisition didn't work well (perhaps too diverse from their core business?)... I topped up at circa 60p's thinking it would recover, it didn't and it followed exactly like Debs is doing now.. 40p/ 30p/10p... Followed it down to 0p and bust.
Had the same thoughts as many on here that once it got down to single digits that I might as well stay in and just hope!
I really hope that all PI's holding here don't lose a lot of money like I did with HMV but the similarities are there I'm afraid.
GLA.