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Barchid, there are a couple of small declared short hedge fund positions, but these are not significant, admittedly. This pandemic will, provided foolish people heed warnings, pass in good time and pubs will be back. I would bank on that but I agree the Saturday event may be a damp squib. Patience, as always, will pay off as long as the business is well funded. The Carlsberg tie-up is key to Marston's survival. The results of the reopening must be carefully analysed. I won't be going into a pub but for many it's a way of life that needs to be restored.
This sp has been trashed... deliberately, the hedge funds. Pubs are part of the fabric of leisure activity and provided there is no disastrous second wave I can only see Marston's business taking back the business lost and even improving market share. That's a big 'if' as people are very stupid and take risks with infection. However, bear in mind too that off sales add to the mix as some people steer clear of pubs while the emergency continues.
Just prior to Boris' announcement, the sp rallied to 74p but fell back heavily very soon afterwards. I think the sp has been manipulated lower and the turnaround yesterday was part of that. It remains to be seen how Marston's handles these new freedoms and how responsibly drinkers behave...
We need more Pestons, more tough media... they have avoided scrutiny by this move. It's a disgusting and cynical attempt to silence the questioners. Johnson almost lost his life but he is still prepared to pander to populist opinion to stay in office, whatever the health risks. Yes, the pubs wanted it and I'm happy for them but if this pandemic continues Johnson is at risk... and he knows it. The medics have been silenced...
That's easy... speculators took profits. But in addition, the re-opening was done against advice. Commercial pressure and populist politics being played by Cummings and Johnson have forced this move, but the risks will increase and government scientists have been told to tow the line. It is a further worry that Johnson has stopped the televised press conferences. This move may come and bite Johnson on the ass. I hope not, for his sake. Yes, people will pile into pubs but I won't be one of them.
The news yesterday is welcome but scientists in particular have their reservations. Johnson has scrapped the televised briefings and this has rightly caused concern. He's a cheat that needs to be questioned but there will no longer be the daily opportunity to do so. Plenty of drinkers will abuse the rules and we may end up with a second wave, God forbid. Pub companies need to exercise extreme caution as this move is political and economic and goes against current scientific advice, imo.
Yes, treat all non-primary sources with care. Go to the best source possible. Don't forget that companies are legally liable for false statements via RNS. So they have to be extra careful. It looks this morning like MMs are trying to pick up cheap stock... don't be one of their stooges.
There was bound to be profit taking as the announcement was no surprise in terms of its content. But that never stops market makers for making hay as speculators buy and sell into the announcement. I admit to being surprised at the extent of the drop but this should be seen as a market phenomenon as speculators move on to the next hot ticket. Investors must look beyond these moves...
Very volatile and little relation to FTSE these last couple of days. I'd say MMs spooking weak holders to collect cheap stock as we approach easing of distancing measures to 1 metre, which pubs say makes the difference between profit and failure. Don't be a victim of mugging.
...FTSE permitting. The sell-off has enabled some good buy-in ops. This tends to follows the FTSE, but it also has its own, news-based dynamic . Come on Boris... let the pubs open up, with sensible anti-virus measures of course. Stay safe...
Fundamentally, this is a great business with an unrivalled pub estate which has breathed life into communities all over the UK and has saved many lovely old buildings of architectural merit which would otherwise have been derelict. I am not a pub kind of person but this is one chain I do use because the prices are unmatched. Martin responds to market opinion and the bounce will surely come when people get the message and stay indoors. Yes, this horrible virus can be beaten as long as stupid people do not endanger others with their antics.