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Clearly the shorters and city funds decided to use today to batter down any shares where there has been any weakness; and where the share prices picked up for the Santa rally, before Christmas.
THG isnt the only one down hard today. Look at Petrofac down 10.3%; Boohoo down 8.8% etc. None of these companies released any bad information today. Its just a targeted attack to either make money short selling or to use algos to drive down share prices in order to buy back at a lower level.
The key thing here is its designed to scare you.
- Play tricks with your mind, question if you should have sold at a higher price
- question if you should now sell at a loss etc.
For the bold, its a perfect opportunity to top up, buy more, buy to replace the ones you sold into a profit on the santa rally.
The key thing here is that the shorter positions have massively reduced - that tells you they know what's coming i.e. a significant re-rating in share price to over a pound.
As a minimum, on the next trade update; but followed by an MBO, buyout or split up of the 3 divisions to deliver real value for shareholders this year.
Just hold, or be bold and add more.
Sit back and enjoy the ride up
It's just funds, driving the share price down to buy more shares cheaply.
Trying to shake out some loose shares from weak hands.
Everyone knows this will kick on over a pound on the forthcoming update.
Either MBO, takeover or 3 divisions split and listed separately this year to correctly value this business.
Hold and wait. Nothing to see here folks
Charlie, its not market manipulation. ITM used to be around 35p/share, before it took off during the CV19 ESG surge, when people were at home with cash in their pockets and time on their hands. Basically Green stocks were in favour for a couple of years and the price surged. However ITM's revenue was always really low, high cash burn and there was no meaningful relationship between share price and financials.
I owned shares when it was 35p and going nowhere. Thought myself lucky to sell on way up at 120p, then cursed for not holding longer!
Hey ho, that's shares for you.
The reason I'm here is that since Colley has gone and with a new CEO in place who is actually cutting costs; getting orders signed and the last update looked promising that things are moving forward. I'm actually looking to get back in below 50p (note there are still funds shorting ITM who drive the price back down, even when news is good as it was with the Shell tie up announced today) If you are a holder, I'd hold as things look promising for the future.
Yes H1 revenue down 16% v Last year H1, however operating margins on par at 3.9%
The real positives here are:
+ Net funds up to £8.9m. These were £7.5m at the end of April 23
+ Order book up to £32.7m v £30.8m in April
This sets out scene for strong H2, particularly in SE with recent acquisition and focus on commercial piling.
Not a holder here, nor a shorter - but surely BOD have a responsibility to all its shareholders, employees and customers to react to 8 days of share price falls.
Either put out "Everything is on track" to reassure OR ask for share to be suspended if refinancing is taking place behind the scenes.
What on earth would be reason for not doing either??
Amitshah - In case you hadn't noticed, we are in late 2023 and the world has changed significantly in the last 2 years!
The current market cap at today's buy price of 45p is £10.7m.
That's with £2.2m cash, at the end of H1 which is the quieter period and when monies are absorbed by working capital ready for the stronger H2.
Projected cash for year end is £5.0m (Cavendish expect £32,5m revenue, pre tax profit £1.0m, net cash £5.0m)
The net debt is the result of buying Murat Ticaret. Only acquired in Sept, so H1 results only show 1 month of revenue gains. Much more at year end. A strong hold for me, in fact added more this morning.
The price action is just the funds driving the share price down to shake out loose holders. Will push back above 300p within a few days
For those who are interested in another's more positive view of SWG - Private Punter (Martin Flitton); who is a share holder - has spoken with the CEO and new CFO today and written up a summary on his on line blog.
Https://www.londonstockexchange.com/news-article/VLG/holding-s-in-company/16221160
New interim CFO, Adam Hurst is now in place and previous CFO has gone.
The new guy has an incredible track record at very senior levels 9check out his profile on LinkedIn) and looks a cut above.
I'm hoping he can put together a great presentation for Friday's Investor session and clarify the business goals and strategy to deliver some real value for us shareholders.