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You can guarantee that Mark Slater (Slater Investments) won't be accepting the terms. He's previously been very anti takeovers of his holdings, the exception being Clinigen where the offer was fair value. This is obviously not a fair value proposal, so i would be almost 99% sure that equates to another 6% against the offer.
Understand some of the market 'panic' but in real terms, the actual operating figures were very impressive in a time when not many companies will be releasing positive reports. Based on that, a price sub 550 is decent value even with the uncertainty and potential risks.
I think it also comes down to people just seeing all the bad news for markets and selling whatever they have as they're scared. Mass oversales in unaffected areas always happen in 'panic mode', but bare fruitful to people in the know or experts.
Personally, i look at the last month with confidence that £10 is the bottom. Everytime it's dipped below we've seen buys steer it out. Higher volumes today, traders back after summer & have seen how cheap this is given how the company should perform in high inflationary conditions.
Got my short term calls wrong on this one, that said, from the estimates i personally expected today, the figures themselves are actually better than i expected. (marginally mind) Very downbeat statement does little to assist positive thinking for the next 6-12 months though, this is what im most disappointed in.
Will ride this as i still fully believe in the business. Imagine there will be a small fight back tomorrow before continuing to be bumpy for a while. Reality in my eyes is that SN. is still very cheap. Takeover potential is definitely high now at this price.
Alliance Pharma down 16% today, blaming it on the supply chain issues it has suffered YTD. Bit of an over exageration for me on that drop, but thankfully a very different company to SN. Just interesting to see how the healthcare sector is doing as we lead into next week, the flat performance over the last week or so (Friday excluded) looks promising.
On a results perspective, i genuinely believe they will be slighty above estimates. Post covid orders, new orders/deals all looks good. The fact is almost every share has been hit by the current market attitude & to me, it just makes me more eager to get in to any share i'm interested in. On a large scale share prices will start fighting back soon, and i feel like the resuls will be the catalist to give SN. a kick. I don't disagree about the takeover threat, but even with that, it would produce a sharp up tick and some short term profit, better than a continuing downward spiral that makes no sense!
Another load bought at 1123. Today's negative returns across the market being driven by unecessary panic from the FED hike. Anything below 2.5% for interest rate simply can't be considered high, so it's another unecessary drop off that'll probably regain tomorrow before falling off again on Monday. This sort of volatility is annoying, but the share price dropping to a low not seen since November 16 was too good to not add more.
To me, the bear market is a good headline, as we're near/at the bottom & buying is an easier decision. Similarly with the news that a US recession next year is likely it's always prudent to remember that during recessions markets are usually green as everything's already been priced in, so all these headlines point to a long term buy & hold, knowing volatility will continue in the short term.
Funny how again the US opens marginally up & S&N rallies back to near parity on the open price today having been 2% down at one stage. The UK Market's more like a Sheep every day!
The fact is S&N is going to be largely unaffected by inflation & the share price still hasn't benefitted from post covid surgeries, just reinforces my views the market is just dropping because people don't know what they're doing. Hips, knees etc are needed regardless of how much they cost. I think earnings across the market will be very helpful in dampening all the doom & gloomers. I really feel in 18 months time anything below 1200 will have been a great entry point for anyone currently on the fence.
Things certainly settling down a bit. The 1 year graph shows 4 attempted breakthroughs so far, given the price is fairly flat today, tomorrow will probably break 1300 again. i topped up last week at 1195, whilst still volatile for a few weeks yet & could still drop as low as 1200 on daily trading, closing price shouldnt be hitting that level regularly with another 1300 breakthrough.