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I don't think there's actually been a lot of selling, merely a completely disproportionate response to any selling.
Great comment TT1981
Shareholders are getting crucified here, but it would appear the company is now standing back and there's nothing left to defend things with. That is unsettling.
At the least, they could advise when SMS is going to release the golden share he owns. Secondly they could advise when a premium listing will be sought. Thirdly, they could advise on SMS's succession plans. Is there one? I'm increasingly beginning to wonder what it is.
If there's just no comment, week after week, then this is going to drift into ridiculous territory - in fact I would not be surprised to see it below 50p in due course, the way things are going.
As others say: why catch a falling knife - exactly the problem currently.
Walkley, those are fair comments but logically, given how recently they were made, Kelly is either delusional or completely aware of a level of bookings just not apparent from the current level of RNS's.
I suspect, and I think the market will agree, that Kelly is aware of a range of deals going on behind the scenes for which the RNS's merely pointed to something coming through rather than the full size of the deals. Take the Ford one for example - I just cannot believe there was not more to come off the back of that one.
Also, now the dust has settled after the rights, and things are financially normalising again and buyers of the Group's services are going ahead again with things, I thoroughly expect bookings to materially increase. I would not expect every single thing to be advised by RNS, some deals will surely have commercial parts to them that are commercially sensitive, and cannot be spelt out so widely.
Shareholders then should expect some news in this regard, but each RNS on a booking win represents, in my view, like the top of the proverbial iceberg, a much bigger potential deal underneath. The H2 bookings should confirm this view.
Apologies - slight typo - the next update is due at the beginning of November.
Fascinating watching these little trades going through as the marketmakers attempt to manipulate the price for the lowest outlay. What other stock goes up and down in response to such small trades?
Separately, Friday evening's RNS makes me wonder how many other late RNS's will be advised? Also who were Clark buying on behalf of or was it in connection with Vestoo?
Questions, questions, in an increasingly illiquid market......with October's update coming shortly.....
Presumably we will soon be hearing from Vestigo Ventures in Massachusetts…
So, we have confirmation of a US buyer!
And it maybe on behalf of MongoDB as discussed earlier!
Very interesting times…….
Fascinating studying how the buying is coming in in waves. It's being cleverly done and co-ordinated I suppose from the perspective of not causing too much effect each time. The problem is, as highlighted here, there's not much available in the free floating market.....
Not sure who is doing the buying here, but clearly someone is. A trader friend of mine says they are getting buying orders from the US, and he guessed at a big competitor such as MongoDB being involved.
At this rate, an RNS will have to be issued once whoever it is gains 3%. The recent price weakness was clearly a gift to any predator......
Added to that, once some contract news comes through, the price should really bolt upwards.
Like others: "where's the RNS?"
Where’s that RNS?
Is it a big US company?
And there's only 14m shares estimated to be available in the free market, i.e. not in institutional hands!
Fascinating how news leaks in the market.......currently 65.8p to buy, live price
MongoDB is certainly massive in this field and many times bigger than WAND. It will be a shame if WAND gets snapped up so soon - it will be yet another tech company then gone from the UK market......
There were two basic similarities between THG and SFOR: firstly both [until recently] were the only large companies with golden shares held by the CEO. Secondly, both are run by extremely charismatic leaders who have basically created the company from nothing and who are themselves, large shareholders.
Those two aspects make them comparable. However, what is noticeable is that despite THG's golden share being cancelled, there's been no bid premium put on the shares in response. SFOR clearly has no bid premium to it, but then again it still has SMS holding a golden share. These two should not be comparable in this respect, which means the market is putting no value on the golden share. That is completely illogical.
I suspect we have a very narrow buying opportunity at this price level before buyers start piling in ahead of the October update.
If there is any chance of MM advising in October that THG is now to join the premium part of the market, the price will rocket. Let's face it, he needs to gain some ground again, shareholders must be commonly up in arms over what has happened since last week's update. Given the increased chance now of a hostile bid, he needs friends for an MBO, but in turn he needs to rally shareholder support.
Currently, the low share price is attracting undue attention, so I expect it to gradually rally back into the 80s within the next couple of weeks.
It's a waiting game now for all of us - those results make a capital event much MUCH more likely.......
Just looking at some recent disasters : THG, WAND, SFOR. All have produced results that seem to have missed expectations, but all are bullish looking forward and give the impression of better times ahead.
When then, are directors going to buy in? None of these should be in closed periods any more, so why is there no Director buying going on?
You really cannot blame ARM for listing in the US................
Notice anything similar? It seems any profit miss is marked nowadays by a 25% fall in share price. The missing of expectations, even if not by that much, seems to be quite enough for draconian drops in share prices. No wonder the UK market is now deemed so cheap by BNP Paribas. It is priced illogically.
SFOR are even talking about moving back to paying a dividend. When will THG start to even mention the word 'dividend' at a results update?