It's all very well to say the market cap will be a multiple of today's within a couple or a few years and I daresay it will but what irks me about this company or at least its share price is the jitteriness. One moment it's £3.66 and I am feeling relaxed, the next minute (literally) it's £3.47 and I am feeling decidedly unwell. It's up n down like a *****'s drawers (mainly the latter) even on a Friday and I remember the good old days when we were always a few percentage points ahead every Friday afternoon. No fun or pleasure in holding HCM any longer and I wish I sold a long time ago. I hate it now.
Yes, an encouraging day and the first in a month I have not been gritting my teeth. It closed at £3.55 in London although whether that transated into good news in America with its violent swings I do not know. Thank you, Amones, for putting the RNS into context. Much appreciated.
I am wondering if this disturbing news relates to our CEO's brother. Events in Hong Kong are proving to be pretty sinister and I have no doubt will get much worse. I wonder if the HK listing will ever happen. Probably best sticking with London and NY? From Yesterday's Torygraph: The British-born boss of Cathay Pacific has resigned amid pressure from the Chinese authorities as the city continues to be rocked by pro-democracy protests.
Rupert Hogg will stand down on Monday, days after the company provoked a backlash on the mainland by appearing to endorse the right of its employees to partake in the demonstrations.
John Slosar, Cathay’s chairman, said: “Recent events have called into question Cathay Pacific’s commitment to flight safety and security and put our reputation and brand under pressure.
“This is regrettable as we have always made safety and security our highest priority. We therefore think it is time to put a new management team in place who can reset confidence and lead the airline to new heights.”
The statement apes criticism of the airline in the Government-controlled Chinese media over recent days. Mr Hogg’s departure was first revealed by the state broadcaster CCTV, underlining the politically charged nature of the decision.
Yes, an interesting market. Clearly there is potentially huge demand but he appears to want to remain a small company. One suspects he will be made an offer he cannot refuse at some point in the not too distant future...
On of my most successful too, steady upward trend over many years. The dividend yield is a bit feeble but I believe this is because a) we keep revenue to make acquisitions and b) despite increases in the dividend even bigger increases in the share price serve to dampen the yield. Frankly I am happy the way things are. No foreworks just nice n steady
It seems to me that the price has been more erratic since the share split: the spread remains, as you point out, woefully wide and the daily turnover in London remains at pitiful levels, all negatives which I had hoped the split would resolve. Nevertheless the price does seem (in jerky fashion) to have appreciated this week: I imagine this is more to do with trades on NASDAQ, which I do not monitor, rather than AIM.
Although the price levels have not been onerous I held back from buying because it has not been able to maintain an upwards trend formore than a few days at a time. And now this! Once again reassuring to see Directors' buying but I shall not top up until a clear northwards trajectory is maintained even though this means missing best prices...
Interesting article in Friday's FT about Ali Baba considering a secondary placement on HKEX. Apparently they shunned it initially because of listing rules but now that these have changed they are re-evaluating their stance. The article is mainly about the benefits to tech stocks if Ali Baba lists there but one imagines that this could help raise valuations of all stocks.
The fact that HCM is listed on AIM as opposed to the main board, with the IHT advantages that this implies (so long as held for 6+ years) must be a benefit for a number of investors. I for one regard this as yet one more reason to hold HCM
Most impressive and I liked his point on helping the maximum number of patients. China has 30% of the world's cancer patients (with 18.5% of the world's population). Alarming statistic but it does highlight the need for HCM and its oncology drug development and for a good relationship between HCM and the Chinese government which (to judge by his words) they do appear to enjoy. Thanks for posting this, Davey.
Good to see HSBC initiating coverage. Despite the fact that HSBC has alienated all and got rid of many of its personal and corporate clients in Hong Kong and Asia it is still regarded with a modicum of respect and one hopes that this will bring in a new raft of buyers. For SS once we pip past the £48 mark every batch of my purchases will be in the black, some of the early purchases by manyfold but I never got in as early as £3; £4 and £5 being my earliest buys.