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Didn’t think we would see sub-31p again, topped up too early. Shaking out weak holders, boredom, or CPR disappointing? Don’t think the latter is likely - although anything is possible - been here since 17p and remain a believer.
Nice tick up. Visited Rose Street development day before yesterday. Work progressing nicely on lovely homes. Very near A62 and M60 - ie brilliantly located for Manchester, Oldham and M62. The best bit is that it has its own tram stop - South Chadderton - so commuters can be at Victoria Station in twenty minutes on a return ticket of about £4.60 a day peak, £4 off peak on East-Didsbury to Rochdale line. Very easy to get to most of the conurbation and Manc attractions - like both footy grounds - on Metrolink tram network. Manchester council has plans for the land all along the the Irk Valley on that line too. Rose Street is very much a development for working people who do not have bank of mum and dad to call on for a deposit and need secure, family standard PRS with gardens and a healthy sense of community. Like the old days of council housing when you had many respectable tenants. Demand is strong. With continued population growth/supply shortage, little prospect of dramatic interest rate rises soon, pressure to build, local Labour and Tory govt backing plus foreign investment and a northern housing market that hasn’t gone bananas in the way London’s did and can still accommodate rising prices the wind is very much in our sails. Strategic land/PRS has been my only safe haven bar cash in the recent volatility because the fundamentals are so strong. Good work being done here. Adding on dips.
You’re tempting me to top up Bid!
IC completely pants down on a share they have been pumping for a while. That said this is a good first-time entry point because it is fundamentally a good business. But for anyone who bought at �3 or �4 there is just too much ground to recover. I've averaged down once already and I'm loathe to throw more good money after bad. In this late stage bull quite a lot of stocks that get punished stay punished - like Hikma and Saga. No short-term catalysts for significant price recovery here. Nursing a whopping percentage loss at my end but it thankfully didn't represent a big part of my portfolio. I'm out but GLA.
I'd imagine it's just profit-taking after it reached a new high. But I've taken a big hit on CVR so probably not the best at sniffing trouble yet!
I'm 60 per cent underwater but have a long time horizon so will hold. This is a good business and the drop is way over done. Shame I haven't got top funds at the mo.
That's a lesson JulesK I have a hard time holding on to underperformers! BlackMac I've dumped all but two of my oilers although I'm considering JOG while it's quiet. Brownfield land/affordable housing/PRS is not a get rich quick option and will no doubt have its ups and downs but the long-term fundamentals are unrivalled IMO.
Nice tick-up today with three 10k buys this morning. The development reported here is not one of ours but part of the trend https://www.manchestereveningnews.co.uk/news/greater-manchester-news/four-hundred-new-homes-could-14307491
Cheers BlackMac - this will be a long-term hold for me too. I don't work too far from the Rose Street development and intend to go down and have a look soon.
Promising sector and the future for affordable housing in big cities with growing populations and struggling buy-to-letters like Gtr Manchester. Three 20k buys gone through in the last 24 hours. PRS mentioned in IC this morning, 250M fundraising and 200m debt should fund 3100 more homes. We're over the 105p spike - and while I suspect it could drift back down below a quid on no news I'm taking an initial stake here in case a new floor is set. Spread narrowing, this and other more strategic property plays were scarcely touched by recent volatility. Will be buying in tranches.
10k buy at noon.
Those who sold Boohoo at 25p would've been fuming at 2.50. Plenty of reasons to keep the faith though its grim watching your investment bleed away!
A believer in the long-term story here but unsure whether to double down. 45 per cent underwater here!
I've been quiet and given Knott every chance to prove he knows what he's doing, but for here on in I am Duncan Bannatyne. This deal has not been 'value accretive' - it has destroyed the value of the drilling. This will never be a multibagger - the whole point of small oilies - and with trust gone and no confidence in management I see no point in hanging in there for another 5p. I have sold 9p down from my buy in price but it's worth it for the peace of mind. There are tons of oilers out there commencing drilling programmes in more fashionable spots than Niger without the warrants issue. In today's era reserves and potential mean f'all. What matters is PI-friendly, competent management and a decent funding deal. I see neither here. The sockpuppet shorters have gone quiet because they are too busy sighing with relief. But they were right, this share is a dog. Why bother hanging in this rustbucket for a divi when you could stick it in Shell? GLAH.
This company would stagger their newsflow instead of revealing it all in a big chunk and relying on TW, who many PIs don't trust, to ramp the share. A staggered drip of news mean rises can be sustained instead of spikes which skewer new holders and then lead to slumps, not least in today's sluggish market. This rise is too late for me as I got fed up and sold out last week. No regrets as I had no plans to add, saw another opportunity and had I been in for today's rise I may well have kept holding out for more and missed another boat. The irony is today's picture looks promising - although we all know the SP could well drift back down to the high-fives after the next lull in news. In that event I may well buy back if the opportunity that distracted me comes off, although I wish all holders prosperity! GLA.
What sort of dilution do we think we might see here gents?