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Take the VW emissions scandal - it bottomed quickly and steadily chugged higher from the scandal's low. The subsequent fall in sales didn't tank it to new lows either. So, study the history of 'scandals' and you'll see all people really care about is profitability. If BOOHOO keep profiting, money will keep being parked here. At the end of the day, FOMO is real and we're all here to make money, not be mother Theresa.
Probably waiting for dust to settle first while they investigate the matter. If they came out now and rebutted the claims, people would still try and short through their PR. Better to wait for the initial market overreaction to run its course before sending a positive PR into consolidated price action = more upthrust.
Don't become attached to the coronavirus narrative - it will only end up disappointing you. Price and momentum are the things to follow here - all of which suggest buyer demand still very much there across SM. Just take a look at SPY, rallying in the face of the worst CV news yet in the states. The markets are irrational, nonsensical and most of all a game - you either join in or stay out. Scared money doesn't make money.
The volatility is being traded by whales. It has nothing to do with long term outlook or anything fundamental about this business. Big boys don't just buy and hold, they profit from intraday noise so don't see it as an indicator of where SP is headed longer term. 370p within a month, mark my words.
Come on - it's endemic in most industries. This isn't even big news - the company can easily shrug this off, it's only because Leicester is in the spotlight right now. Also, I wouldn't be suprised if the kumani's legal team are all over the press at the moment so don't expect much development of a story.