I feel it could be something to do with the cancelled July sale in Antwerp. Unfortunately I don't think we can definitively tell when this sale was cancelled, but I noticed as cancelled around 10 days ago (on their website). Could be taken as a sign of something gone wrong?
On the other hand i noticed that they already have SH approval at the last AGM to buy back at there own discretion. I would wager that being announced soon. They need to do something to close the price/value gap.
Surely if someone wanted to bid it would be done by now.
I cant see Graff doing it. Why would they want to own a mine? Its a long way from Lesotho to Bond street or 5th Avenue. I can see the logic of being a SH here a they get visibility and insight on the market and specifically the market for big stones but involved with mining operations. Just don't see it.
If Anglo or Rio or some other mining outfit wanted it it would be done by now.
RE: I did print the share held by the board,Not sold off03 Aug 2021 11:03
If I were him (salary would be good!) I would wait. In his position the longer he takes before he has to say something the better. Gives him more time to work out his strategy. I am sure that as a new broom, he will want to appraise the situation and he will want his first market facing statements to be around strategy rather than we sold XX boxes. 100 days into the job and the board will be wanting his plan. After they agree it will get communicated. All fits with September IMO.
Assuming you believe the eventual news will be good, use this time to top up because if it is good news I doubt (hope) whether we will see these levels again.
I'm afraid the "magic years" of innovation and novelty are long gone. Their comparison metrics, as pointed out by sain@vision are poor. Take a look at Notting Hill.
More than ever this is just a leveraged punt on the Central London market and prices. If you still believe (as I do) that London is still a world city and still attractive to foreigners and aspiring young Brits, the SP t can deliver a multi bagger when the hordes pile in.
I agree, I don't see it working but then again I am old and accept that millennials and younger don't think like me, or you I suspect.
In in investing in takes 2 points of view to make a market.
They have a USP - they are not used car salesmen - even if they are selling used cars They don't have anything like the overhead that traditional retailers have. They have mega advertising budgets. In a market like todays, they don't need to make money. How many unicorns are valued at astronomical valuations but still attract captial With the capital they have already raised they can keep going for a very long time. Investors invest because they like the story and expect someone else will but their shares at a higher price. Even if their valuations come down the fact they are in the market will take volume form traditional retailers.
This last point is what is holding LOOK and other retailers back. If you are expecting a re-rate based on Cazoo not doing very well I think you may wait for quite a long time,
By the way, I say all of the above as a holder here. I think the market will slowly walk the SP. The big mistake which i hope the rectify in the H1 result is a commitment to SP capital returns. As far as I can see they have no reason not to do this give their balance sheet. This would give the SP the boost it needs.
The market cap of this mutt has dropped by 30m in 2 months. we can blabber on about manipulation by MM's and so on but for 26% to be lost is unexplainable unless someone is unloading a lot, but we se no TR1's from th major holders or something is known in the market that we are not aware of.
If all was well this would have gone up by a similar amount. No smoke without fire I'm afraid.