RE: THG - It takes some doing to be red today.16 Mar 2023 11:54
There is no doubt the share has suffered due to macro factors. Every share has. But we cannot just blame macro for the underperformance of this.
I think it boils down to Moulding still acting like this is a private company not answerable to shareholders. His "Golden share" is the root cause of it. He has had that safety net knowing he is still in complete control. But that is soon coming to an end and activists are starting to circle. Hopefully this starts to focus his mind more in the coming months, though I wouldn't be entirely surprised if he engineers some sort of exit before it fully expires.
The communication vacuum has also been a huge problem as a vacuum is always filled. It is being filled by Twitter detectives and let's be honest about it, RAMPERS, who are using the vacuum to their own ends. Not all of that is nefarious activity. Some is just a genuine attempt by honest shareholders looking for reasons why they should hold onto a share that has lost them money. But they shouldn't need to do that if the company actually communicates to the market more often.