Member Info for steveknowsnothin

There is no getting in below 350 this morning.

Am not going to say that I haven't doubted my judgement over the last couple of months, but this makes me so fekin happy.

@Harveyspecter "The Independent Review is now complete and was delivered to the Board on 24 September 2020"

Looks like we were right about RNS timing, delivered to the board yesterday and RNSd today to prevent insider trading.

Going to revise my guess for EOD to 390

Little something to get you ready for 8am,

https://youtu.be/xi_3GtQN2IA

I am so glad they have released the RNS prior to results. We are going to see this go stratospheric twice now. 8am this morning and on Wednesday!

Basically saying that because it has so many suppliers, it becomes impossible to validate its supply chain fully. Great optics on a bad situation.

"Consolidate our approved supplier list, whilst still maintaining a significant presence in the Leicester garment industry"

No impact of changes on lead times,

"Our business is founded on a test and repeat model with the speed of our supply chain fundamental to its success. We are confident that we can successfully embed all of the Independent Review's recommendations into our business model, without impacting lead times or financial expectations.

We will consolidate volumes, place more consistent order flows and focus on working to achieve best practice with suppliers. Taken with the continued growth in the scale of our business, the Group remains well-positioned to lead the fashion e-commerce market in the future and successfully implement an agenda for change in UK garment manufacturing."

Sorry 8am

9am conference call for analysts. If you were thinking of topping up today, don't think you are going to get the chance.

UK Toll Number:
+44 3333000804

UK Toll-Free Number:
08003589473

Participant pin code:
74981457#

Two important lines,

"It goes on to state that there is ample evidence that the steps which Boohoo is now taking in relation to remedying problems in its Leicester supply chain had been implemented nearly a year ago."

"Ms Levitt is satisfied that boohoo did not deliberately allow poor conditions and low pay to exist within its supply chain, it did not intentionally profit from them and its business model is not founded on exploiting workers in Leicester."

Well if you want to go wisdom of the crowd on those numbers. We are going to end the day at £3.47.

God I miss max_2. Now would be the perfect situation to swoop in and say 2.20.

Baldness favours the bearded

Do you reckon if I send them some short shorts with a note, they will get the gist?

https://www.boohooman.com/basic-short-length-jersey-short/MZZ28587-105-37.html

@saint-tropez there is only 3 more sessions left after today, so it bloody better.

@Dipsy I was doing some research on mining stocks last night and their share price cycles. Realised I had broken one of my cardinal rules and was buying after speculation had occurred. Miners seem to go through cycles of speculation and then the reality of time kicks in on how long it is going to take to get the ore out of the ground. Am happy to stick money into GGP, but need to do it in my main account, where I can sit on it for two years.

Gold spot price is doing unexpected things at the moment and is very heavily tied to the dollar. TBH not an area that I have a firm grasp of, so need to take a longer view to iron out the spikes.

@Dipsy yeah, it was in my CFD account and was scaring the hell out of me.

Will go into it once I take some earnings off of Boohoo post results, as can take a longer term view in my share dealing account.

I can see three cases for most stocks when results are coming,

1. Speculation outstrips actuality, priced in prior to results published. price goes down. (Tesla)
2. Actuality better than results, rerate occurs, price goes up. (Royal Mail)
3. Results assumed, already price in. No change in price, as it is already there. (Amazon)

From my perspective,
- We definitely aren't in 1, based on where the SP has been and the speculative growth that there should be.
- 3 just can't be true to me, based on what the SP was previously
- I have to assume we are living in world 2, with the added complexity of ESG holding it down.

350p just does not seem realistic to me if the ESG stuff is mitigated and the brokers have any idea what they are talking about.