Member Info for Swanley

Almost exactly describes my purchase history here too Josey.

Felt like I missed the boat when BT announced a potential offer (only heard about it because I was invested in BTgroup at the time and saw the RNS there). Once price dropped down here, too good to refuse given the business and Damian's interest. I would like to know what he's planning whether he knows something and is just seeing a good profit to be made, or is looking to make an offer for MM. I was hoping for an offer around 30-35p but would settle for somewhere around 20-25p as a realignment.

If the redundancies are true, that sucks. I hate holding stock knowing that I might be profiting from people losing their jobs. I'm interested to know how you know so much bighand. You say 'the other side of the fence', are you a consultant?

Holding c. 270k shares here and happy to hold and wait given the relatively stable price currently. Just would like to know two things: 1. when the offer period might ever close, and 2. when the board will communicate on things like sale of decluttr, redundancies etc.

I noticed the final results were posted 8 March 2023 and annual report about a month later, so would expect that we could hear news soon.

Institutions ramping up their long positions today. Good to see.

... with £10 in the medium term.

'You can't keep a good man down'. This will come good. We have to accept short sellers are everywhere, but they help drive liquidity and create buying opportunities such as this one today. Good RNS with good, strengthening business. Either a target for a takeover or a nice recovery in the medium term. We know Ocado is good for it, its performance from Nov 2023 at 452p all the way up to 800p by mid Dec was not even based on today's results. Have faith.

£8 target with £10

SHE RIDES!!!

Not surprised with these results, Ocado is definitely on the mend it's a cracking company. It shows that BS news leak earlier in the week for what it was: manipulation of the sp to get in cheaper before the rise.

GLA

What's this RNS that snuck in at 17:01? Form 8 Public Opening Position from JD.com? Disclosing 419 derivatives.. I'm guessing this means that their bid is incoming now they've declared their existing interests. Bring it on.

Interesting chart patterns forming. After Monday's disaster, yesterday was a spinning top, today after a nearly 4% drop price has rallied back up and it's now looking like printing a hammer. Could be the temporary bottom here and subject now to results tomorrow. Bad news, 450p, decent, then this could be the bottom.

Whilst I hold onto a loss, I actually would prefer this to hit 450 then turn up, as that would print a decent double-bottom. And who doesn't like a double bottom eh?!

GLA.

"could fall back".. Already has. Now at 66p which is equivalent to the most recent offer.

"The Board of Currys considered the Second Elliott Proposal, together with its financial advisers, and concluded that it significantly undervalued the Company and its future prospects. Accordingly, on 26 February 2024, the Board of Currys unanimously rejected the Second Elliott Proposal."

... or the deadline for Elliotts could be extended. Need to see JD's offer.

Agree the BoD want this wrapped up, who wouldn't if they stand to profit. But I'm confident they'll wait to see an offer from JD before accepting Elliotts bone that has just been thrown.

Elliotts really want to pay rock bottom for Currys. I get what they're doing, they don't want to come in with a full and final offer until they see JD's hand. If Elliotts say "£1" now, then get into a bidding war, they're shooting themselves in the foot. Hence they're registering their continued interest, but keeping their cards close to their chest. Would be good to see JD's counter now, but I wouldn't be surprised if JD are going to watch, wait and come in at the last minute with their final offer, especially since they have until the 18th March, they can afford to wait.

Wow, super twitchy market. Shows how far behind the news average investors are. Also shows what's likely to happen given the number of institutions in Currys right now.

"One shareholder in Currys questioned Elliott's logic in submitting an offer of less than 70p after analysts and shareholders suggested that only a range of between 75p and 80 was likely to persuade the company to engage in discussions."

I think Elliotts are now waiting for JD to make their move as they expect the price to settle around the 80's mark. That was a shrewd next offer. Keeping their powder dry...

SP just jumped... Any gossip?

Yeah, this story stinks worse than an Ocado delivered bag of rotten M&S prawns. There's some big after hours buys, including:

26-Feb-24 18:00:11 496.156 118,554 Unknown* 588.21k O

Agree Bayobach. If price recovers well enough tomorrow, then I'd still give green support a chance, at least to see if it can carry price across the downtrend from c.20th Dec 2023 to today's candle. If that trend still holds then green is dead for sure and I'll be selling out. Oddly my IG charts today had price opening at nearly 570 before coming down, showing a daily 13% loss which is total BS. It makes it look like the down trend rejected a price which never went anywhere near it! Even if it does get through the local down trend then the biggest challenge of the down trend from Feb 2021 through the recent high in Dec 2023 has to be beat before this has a chance.

Tomorrow will be key.

Are people reading into the situation that from this leak it is a foregone conclusion that Thursday's results are not going to be great, or is there still a chance of a better update than expected?

Famous last words coming: Thurs results are expected to be an improvement in all other areas. The payment issue (if true) does have small print around it where if both agree, then it can be changed.

I still expect to see this turn up soon and the payment for the deal with Mckesson is to be realised in FY 25 which will give a decent boost.

The cynic in me says price was manipulated today to get in at/under £5 and that price has come down hard before it then bounces back up quickly. Whether it hits £4.50 beforehand, I believe we should see a decent reversal coming from a technical perspective.

Time will tell.

Yeah definitely appreciate that. Need to try to keep enough in reserves to trade in and out of LT positions to avoid the large up/down swings when investing LT (in my view).

Guessing this will finish at 494.4 today to match with the recent bottom on Feb 2nd. MACD looks shallow, so wouldn't be surprised if this bounces tomorrow...

53% since late Oct '23, how much do you want?! ;)

I like Ocado for £8 and possibly £10 later. Nice rising double-bottom on the weekly chart, with a neck at £8 and if successful, could go £10 or more. All IMO. Obvs.