Member Info for Quickdip

Paddy, given the state of your portfolio, and the fact this is your biggest holding, I don’t think you’re in a position to call anyone a clown 😂

The ATL is 66p. Misleading folk again.

Wow so you achieved the impossible and managed to average right down to the bottom of the market. Also funny how you never mentioned it before it went up…

It’s fine Paddy, I’ve more than made up any losses I’ve had by shorting this sinking ship 😁

How are your other shares doing? KCT, VOD, SDRY and of course this dog? Whoops!

Paddybody is fixated on the old NEX SP from 2019 when interest rates were 0.5%, thus the debt wasn’t such a burden, and therefore arrives at the conclusion this is cheap. No due diligence required.

Do some due diligence on the fundamentals and you realise it is still overpriced. I’m not closing my short until around the 30p mark.

Manz has clearly shorting been shorting this share for a while (wise move, but disingenuous with you lot). Just look at the negativity in all his posts, no way he’d be holding a stock with all his “concerns” and negative viewpoint.

At least I openly admit to being short here…

So assuming they hit the target of £200-£215m operating profit, then deduct the finance costs, and then the inevitable depreciation on all the buses, and you’ll be lucky to break even.

Revenue is completely irrelevant when you’re paying it all out. Both OTB and MARS are showing profit, whereas MCG is losing money.

Also, Both OTB and Mars have substantial net assets after goodwill is deducted whereas MCG has no assets after goodwill is deducted.

Yet MCG is trading at more than double the price.

On what basis is this company worth more than £500m?

There are profit making companies with much healthier balance sheets now trading well below half MCG’s price. E.g MARS, OTB

Paddy, I was invested in PSN back in October when you were spouting a load of sh*te on that board. Saying it would go sub £10, I never saw you apologising when it went to £14-£15. It seems you like dishing it out but can’t take it. And just for the record, I still do think it will get to £7.

Anyway, enough deflection on to other shares. The simple fact is, I called this right all along, and I’m wondering what to do with my profits, while you desperately look for ways to claim some of your losses back.

Paddy, you were calling me a clown when I sold out of this dog about 40% higher than this, and went short.

You say I don’t understand the investment game yet you’re throwing money into sinking shares, and then asking daft questions like “Can I claim tax relief for losses in an ISA” 😂

I don’t know if you were reading the wrong report Paddy, but going from a £15m profit after tax in H1 2022 to a £39m loss in H1 2023 doesn’t look like things are heading in the right direction.

Yep, Asos looks a good website too so I’ll invest there too. Whoops!

You know what tanked Asos? They couldn’t refinance £75m and had to do a capital raise. MCG needs to refinance £400m soon…

Thanks for your amazing insight paddy. I’ll go on the M1 tomorrow and if I see a nex bus, I’ll invest.

If I see a Cineworld, Currys, or Marstons I’ll invest in those too.

It’s a shame Wilko isn’t a PLC or I’d be investing there aswell.

But it seems “covid funding” was coming in.

It isn’t now, hence the excuse for the poor results…

“Short” paddy, isn’t a long term game. Clue is in the name.

I find it hilarious how you always praise my comments in a sarcastic tone, yet can never actually challenge any of my points. …

It has less than £1b current assets so whether you use gross debt or net debt the same principle applies! Would still need to raise 3x the market cap just to clear net debt.

It seems people are starting to realise the risk involved here.

Moonman, I know you won’t thank me for my post, but your view is misguided. With total liabilities approx 5x the market cap, it just wouldn’t be possible to raise enough equity to become “debt free” without diluting existing shareholders so much they’d be virtually wiped out.

If there was a rights issue, it would be a £400m raise for the bond due in November. Issuing £400m against a circa 500m market cap would roughly speaking require the number of shares in issue to almost double, thus the share price almost slashed in half. The total liabilities would only be reduced from about £2.8b to £2.4b.

Perhaps you could tell me about your local bus timetable as well, and which ones you catch to the job centre, to deflect from the topic of MCG’s dire financials.

Is that all you have to say Paddy? Has the penny finally dropped? I’m American so I’ll spell it busses.