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I have just got access to the L2 console - can anyone give me a quick explanation of what information I should be looking to extract from it please. Boohoo being my first share has been interesting to say the least and I was hoping for a slow climb to the results at the end of September but it has been valuable in that I think it has been a good share to learn from. Some valuable advise on this chat. Also does anyone have any views on Amigo?
Thanks for the info Ellie 99 and Chris - new to this an trying to suck up as much information as possible - feels a bit like the matrix sometimes. Enjoy reading this share chat - seems like some knowledgeable people on it and looking forward to the next few weeks on this my first share.
I believe the current SP at the moment is due to the caution and risk being undertaken by major financial institutions. Some fund managers would be hung out to dry if they invested now and something else goes wrong. I think they will wait until they get an insight into the report and then make a judgement. I think everything does point to good sales figures through a difficult period and with a good balance sheet it leaves the financial institutions with a judgement call on ESG factors for their decision making. A positive or negative report will still provide the Boohoo board the opportunity to reshape their ongoing activities to win back the trust of the big players. They will be fully aware that is a priority to fulfil their ambitions. In the meantime they will want to get back to business and let the independent investigation crack on and provide them with a report that I am sure they can learn from and help to make the brand stronger. They will be going through a period of crisis management but one thing I have noticed is that their marketing is still very strong and innovative which I take as a very good sign. The share price crash is mainly due to damage of their reputation and integrity not the business model. Their marketing ability and business strategy should see them recover. I do hope we have seen the last of the big dips - this is my first investment and whilst it is fun to learn and understand it is a bit nerve-racking. I also don't think we will see huge SP increase until the big institutions get a glimpse at the report and a sniff at the financials. A few more Director buys would be nice in the meantime!
To be fair, I like the RNS. It is concise and directly addresses the key circumstances that impacted the SP. The Boohoo board will know they have to gain the trust of the big financial institutions again to drive the SP upwards. With it being an Independent review by a respected legal firm with solid background in this particular subject area it is actually a very brave commission by the Boohoo board. Regardless of the results (positive and negative) Boohoo as a company should come out at the end of this with a much more transparent ethical governance that big Institutions will support provided the financial fundamentals are good. There is nothing like learning from experience and I am sure the Boohoo board will have learned a lot from this scandal and it will be important to them to build trust and reputation.