Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
It is great to see this forum working for the benefit of all shareholders, with some informative posts! As an aside, I've always been sceptical about the use of '1 codes' for denoting a forthcoming RNS. 1 share was traded yesterday, and 1 share was traded before the Stadium RNS. I appreciate that these could be a coincidence, but both times???! Regardless, I will be looking out for the same signal again with interest!
I think you should relax about the share price. Was there anything wrong with the company when REDS was trading at 1.20 in January? Some have sold ahead of the consolidation, some may think we are buying growth with the recent takeover at too high a price. The volume of the fall has been low, so most are content to await news. The recent book building at 1.50 should give you confidence while we await tangible evidence of improving profit down the line. £6 million bought at 1.50 wasn't on a whim, and I would suggest those that sell now are! AIMHO
Actually there is some doubt; the bid / offer at the time of the trade was 1.47 / 1.50 (buys at 1.50 were shown in red at the time) so every chance it was a buy. Regardless, some nervousness as the plan to increase costs (growth in sales force) has yet to see results and bring in new deals of substance. i remain convinced that this strategy will, in time, prove a turning point.
I don't think share consolidation should be viewed as a negative. The spread has been ridiculous recently. At £1.50, I would imagine £1.45- £1.55 so would be less than 1% minimum at the moment is 2%- 4%! Historically consolidations have occurred due to poor management, ie funds evaporating (mining stocks) lending irrationally (banks), here we have too many shares in issue due to previous poor management, but I believe we can all see we have a safe pair of hands at the helm now. An extra 20% of shares held by institutional l/t holders, with little dilution is positive, market cap will be over 31m.
Only a 3% discount, obviously the house brokers have faith that there is a lot of institutional interest. Looks very positive to me!
If that was the bottom, and the increased interest on the buy side today may suggest it was, this looks like a bullish signal with a very low volume technical pull-back.
Just a few points worthy of noting from recent results. Renewal of most Key customers' contracts so revenue is underpinned for next 3 to 5 years. Newly developed platform highly scalable and sold on a 'software as a service' model. Opportunities in retail, sports stadia, Government, logistics. New focus now on infrastructure to both sell directly and indirectly. Reading between the lines, we are invested in a business that has now developed a 'best in class' cloud based software solution and is recruiting now to accelerate its penetration across various markets. Sales are underpinned so no 'feast to famine' results in the future. Contracts are sold as SaaS so less immediate income from procuring a contract, but MUCH better long-term as the revenue keeps coming, and customers are 'hooked' to the contract. Also further services demand a fee etc, and easier if beholden to a supplier to cross sell. Revenue in the future I would expect to improve with the change in business model and the published sales drive.
Hi Silver, We've shared the pain over these last few years, however now is not the time to be down-beat, especially when things are about to get interesting!
On balance volume (a momentum indicator that uses volume flow to predict changes in a stocks price) has increased markedly these last few months, even when REDS share price remained stubbornly range- bound. Some suggest that this signal pre-dates price action. I am sure all will be revealed soon! Well worth a look etc etc
Seriously guys, have some faith! Look at the buys rolling in. This has flipped back to the 20 day ma on very little volume. It is a technical retrace and if we start moving back up now this break out is for real!!!! Happy Friday!
This small retrace looks like a normal trading pattern after a breakout. (50% of breakouts retrace) if we start moving up now that we have touched the rising 20 day moving average this is very bullish IMHO!
I like your sentiment and enjoy your input Bobbo140. If I read you correctly you are suggesting that although the Bollinger band has been pierced (generally an overbought signal) provided the price action stays above the classic '20 day moving average' then this break out has legs, due to the RSI being at an average count? Very happy with the results BTW would like Directors to have more 'skin in the game,' but maybe more sensitive news incoming?
I think you'll find the results are Tuesday! I too have been adding recently, however not at such a good price as you!
Yesterday we saw a sell at a little past 8am for £40k (marked as a 'buy' due to it being delayed for an hour. I think that reflected on price action. Today has seen little buying pressure, so the mm's reduce the price to encourage a liquid market. I am hopeful that the retrace is just a gap-filling exercise (REDS gapped up on open on Tuesday) and that the positive sentiment from the RNS can move us north again soon.
5m carry-over trade sold @ 1.5 and bought @ 1.53. So not all buys. Hopefully current correction done now.
Interestingly, it's been completely re-written! All reference to Olympics, 2019 Rugby etc etc removed. I wonder if the news contained was a little prematurely announced?! (BTW they have left one of the tags at the bottom as 2019 Rugby), so I'm not losing my marbles quite yet!
http://www.redstoneconnectplc.com/archive/connect-ib-extends-relationship-with-sports-travel-hospitality-group/ Makes for very positive reading! If the link gets taken down, look at the Redstone connect website; under media, then blog. Very high profile involvement including Wimbledon, Champions League Final, Rugby World Cup 2019, Japan and Tokyo Olympics 2020 etc,etc.
I would think we'll get a trading update in the next week or so. Most likely day is Monday 20th Feb looking at the last 3 years. Possibly news of contract wins etc.
Agree volume is going crazy again. £47k just bought after a couple of £16k earlier buys. Someone is leaning on the ask at £1.60, once this clears we should be away!
Added a few; interesting symmetrical triangle formation... expecting a break on the upside. Strong support at this level which is encouraging considering the recent gains. REDS are making waves, software margins make this a much more profitable business at last, plus added value additions (see recently posted presentation) I'm thinking re-rate soon!