Member Info for Prudent4

That seller who was dumping 10K shares at 16:35 each day. Yesterday it was 20K. Today 30K.

The daily SP fall is roughly proportional to the size of this dump.

"I just can't understand the halving in MCAP for just over a month period taking into account these results were already communicated and published"

Temuchin, the decline is the delayed and spread effect of the previously known bad results pushing two major shareholders Swedbank Robur and Invesco to decide to quit. Lacking buyers for unloading all at once, they instead are selling piecemeal day by day on the open market. Notice the sale of 10,000 shares at 16h35 sharp every day for last month.

These sellers are about a fifth the way through and I believe will continue to sell until done - at a shareprice in double digits.

The board broke AIM rules by concealing the disposals from the web site significant shareholders register, until this week's financial report was past. And RNS is still missing at two of the bad-news TR-1 declarations.

TLDR; FDEV is dead share walking. Possible bargain at the right time.

June - Invesco holding down from 7.6% to 6.19%.

Disclosure on RNS is missing.

July - Invesco holding down from 6.19% to 5.69%.

Disclosure on RNS is missing.

Disclosure on FDEV's significant shareholders list is missing.

What's going on?

Morningstar just updated to show Investco sold 18% of its holding in June and 8% in July.

Well done he here who predicted a TR1. RNS today shows the big seller is Svedbank Robur. 7% left to go.

Very disappointing news. FD announces the first significant update will address only four of the hundreds of bugs reported. And is two or more weeks away. Far too late to recue sales.

https://steamcommunity.com/app/2287220/discussions/0/6363075944121453527/

"So is a 25% drop overdone on NO news"

The F1M mess-up is not no news.

"FDEV is still working hard and releasing titles."

Fewer this FY than half the previous.

And when those titles are as messed up as the last four from FDEV, then best they not be released at all.

The new CEO needs to make radical changes.

> He was obviously doing a lot of other, non-FD, stuff in last few years as CEO

Yes - obvious from the mess he left FD in. Fixing that up is going to be quite a challenge for the new guy.

"David Braben? Latter (and 33% owner!) will have to act soon"

How can he? He's lost exec position and majority control.

Someone is calling shots at high level. He who booted Braben l. But that's probably one of the bank investors, knows nothing of games. So not likely to act directly on the F1M fiasco.

No, action on F1M has to come from the CEO.

The CEO has been in post for less than a year. We have seen no descisions from him. Too early to judge him a "rubbish CEO".

We should judge whoever decided to give that job to him, the Chief Creative Officer. Responsible for rubbish games ouput for the last few years.

Does anyone know who replaced him?

Investors too expected more than an update. They expected the "new game" which the CEO said would be one of two delivered in FY24.

" SP has dropped 20% since release ". 27% since first reviews, July 27. The graph is a straight downslope. The question is, where/when will it stop.

Is there some expected news that will lift it over 600?

If the sp really has the game priced in as "just an updated 2022" then god help all, because earnings-wise it is 70% below that, translating to 25% shortfall on FY24 projected earnings.

That Steam customer backlash is less against game itself, which has a review score not much worse than the 2022 version. More against the company. A worry, since quick-fixing a game is sometimes possible but quick-fixing a company is not.

Key question here is, is the 70% drop sales already in the week's 10% sp drop that we've just seen, or is there more drop to come? When then 2022 game sold only 20% below expectations, the sp fell 42%.

Just seen the week 1 sales numbers for the F1 game. Despite the Numis warning I had no idea it could be this bad. Talk about reputational damage. Has any broker done an update on this yet?