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It’ll be interesting to see how the retained business performs - probably under a revised brand to reflect to clear focus on agricultural feeds. The projected earnings are distinctly positive and I’m not convinced the market appreciates the value left in the retained business relative to its peers.

Yes, short back up to 6. Just when one thinks the overall short position may have turned it reverses again. One has to say the overall trend remains upward rather than down. I believe patience will be rewarded here and that short term news and geopolitics should be ignored. This is a good, well run business.

Well done Dartron for getting some more at this level. Sadly I bought at a slightly higher level so I’m biding my time and seeing this as a recovery play for a return to higher levels. But it may take some time.

A slightly odd day today with some strong-ish selling initially followed by some reasonably strong buying through the remainder of the day. I’m keen to see the year end results as this has the potential to shift gear.

Why is a news item for Ashtead Group being reported for Ashtead Technology? The two are entirely unrelated.

Number of shorts has further reduced to five.

That’s very disappointing. I thought with the recent short reduction that we may have been at a turning point. We see again today that the stock is unable to sustain gains for more than a couple of days before regressing. When this pattern changes we will know that we are at a turning point.

It would appear we are back to 6 shorts with DE Shaw dropping off (they had 0.49% of the short position)

I can’t put my finger on it but there was just something odd about the statement. It’s brevity and language. Sure, it was positive, but one had a sense they wanted to say more but couldn’t quite yet.

Brief but very positive trading update today with the business stating they are comfortably in line with expectations for the 2025 financial year. Details to be released on 8th July.

Gatecrasher - if the risk for the shooters is increasing, as you outline, why do you think the number of shooters and the overall short position has increased so markedly over the past couple of months? If what you outline is true, surely we'd expect to see the opposite with shooters beginning to reduce their positions?

Schroeder’s letting a few go today.

There is always the possibility that they know something that we do not or that isn’t otherwise in the public domain. I’ve owned AT for 18 months or so and from my research before buying and since they haven’t missed a beat. When this turns, as I have no doubt it will, it will rise quickly. It has done so in the past. I expect it will get back to its peak of around 890 where it was mid last year. It also wouldn’t surprise me if we see a further acquisition this calendar year.

I re-read Simon Thompson’s piece from Feb when he included Carr’s in the Investor Chronicle bargain shares for 2025. He estimated that the retained Agri business would have an enterprise value of £39m and that this represented only 5 times operating profit. He compares this to Anpario at that time which he describes as attractively priced yet at 11.5 times operating profit. That enterprise value will have increased as the share price has risen since Feb but the point remains that the shares seem somewhat undervalued. In a subsequent article he notes Edison have a fair value of 165p and Cavendish 180p. On this basis the retained business does appear to carry an attractive value with Edison estimating significant improvements in profitability for FY 25 and FY 26.

That’s a couple of fairly chunky sales towards the end of today. Hopefully not the start of a trend.

Apologies that comment was intended for another of my stocks. Ignore.

That’s a chunky couple of sales at the end of the day. Hopefully not the start of a trend.

Not sure if that question is directed for me Curo but yes I only comment on shares that I own.

It’s frustrating once again to see Ashtead tech fail to sustain its gains from yesterday. It feels like 9-20 months since I’ve seen this stock have a steady few days of gains and then hold onto these. It yo-yo’s day to day. Perhaps when we see sustained gains over even a short period we’ll know that it has perhaps turned the corner.

Looking at the shorts it has a note of a change for GLG on 3 June but that the change is 0%. Is that just a rounding issue so the change is so small that it rounds to 0? Otherwise I don’t quite follow.

Nice share price appreciation today. Let’s see if it can be sustained.