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Let's hope the price stays this low until the new ISAs open - talk about bargain basement! Can't make up my mind whether to buy more SFOR, THG, ASC etc. All are looking ridiculously low.
Just crossing everything in the hope the price stays like this for a couple more weeks.
Excellent result for shareholders here after a prolonged period of pain. This is what happens once a Company actually demonstrates in consecutive trading updates that it is indeed performing better than expected. The result - the shares are getting revalued.
I expect something similar soon at a number of companies on the London market, including SFOR, THG, CRTA, ASC to name a few.
It appears these levels of revaluation only arise once consecutive quarters of decent performance are confirmed - one off ones are not enough.
Nige, I agree. If the buy backs are increased a bit and they succeed in buying back another decent wedge of the stock at these low prices, then that equates to many of their recent purchases suddenly costing only a tenth of the original cost. That could be game changing for the overall valuation of the company
Don't get me wrong - I completely agree that £5 a share is laughably low, but the market is just refusing to properly value these shares in the meantime. Predators should be having a field day as this problem is common across the London market.
Clearly Mike Ashley is trying to build up his stake without the share price rising. So far he is succeeding. Let us imagine the scenario where he now owns 29.99% of the shares and the share price is still around 350p.
He then makes a dawn raid on the market, scooping up say another 15% - 20% at 350p - 400p - this is possible if you just look at the levels of stock available on level two; and accompanies his buying with the mandatory bid RNS.
No, I'd say if he did it properly, he could scoop up the extra 20.1% of ASOS stock at a price not too far from where we are now. It all depends how hostile a bid he wants this to be.
With Frasers now increasing their stake yesterday to just over 26.26% of ASOS, a takeover announcement must be imminent. I think he will offer around £5 a share and most shareholders on here will bite his hand off.
Someone has to be the first one! And ITV's results were surprisingly decent recently.......
A lot of SFOR's turnover relates to the US where the economy looks to be in far better shape than was first imagined - I don't see why SFOR's results should be that poor as a result.
The market seems to continue to price these shares as though it is unsure if the Company will manage to trade through this period - this is surely utterly ridiculous?
I think there are likely to be a number of parties waiting on the sidelines to see what the next trading update says and if it is decent and confirms that things are indeed turning around, then a new bid will follow. And without the protection of the golden share there should be a bidding war.
All to play for in my view and the current share price is clearly oversold. Just hope it stays this low until the new tax year so my ISA can be loaded up.
Something wrong here which is, I guess, the reason why the shares fell a bit yesterday. Mr Griffiths shareholding only increased from 20.63% to 20.8% according to the latest RNS - this completely fails to explain the recent large purchases of roughly 7% of the stock.
Someone else must be quietly buying up the shares, who is it?
Given there is only 115m shares in existence, and 7m were traded on Friday, you don't have to be a genius to realise we must be due another RNS. Someone has loaded up again as the price is now 78p to buy and clearly there is continued buying in the background accompanied by late reporting of such trades.
Just look at today's trading. There will be a number of late reported trades that are responsible for the price to have risen today.
If it is Mr Griffiths again, we must be very close to that 30% level........
Clearly a buy. We now await the next RNS - presumably Mr Griffiths has been hoovering up the shares again?
The problem is that so many trades are reported out of sequence / late reported that it gets very difficult to know what is going on.
"Investors should expect the preliminary full year FY2023 results update between mid-March and mid-April 2024. Cirata will provide full year 2024 guidance for both bookings and December 31, 2024 year-end cash balance in the earlier of the Q1 Trading Update or the FY23 preliminary results. An in-depth review and commentary of the Turnaround Plan will be provided in the FY23 results."
Well that did not last long despite the current share buy backs each day...........
The level that this share is out of sync with reality is really noticeable, but then again, one could easily say the same thing about ASOS, THG, CRTA, DARK, etc.
What we need are a few predatory bids......
I see with today's RNS he now owns over 20% of the shares. We are starting to get close to the obligatory level at which a bid must be made.......
Time for these shares to start motoring, surely, or are the big City institutions asleep on watch?