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Yesterday I received an email from Asos that it is taking them longer to ship my order because they are very busy. As soon as I saw that email, I bought a lot of shares yesterday. Waiting patiently now till half yearly results to benefit from share price increase.
Put a limit order yesterday at 5.50 and I was furious that it did not fill even the price was trading below that, but was thanking my broker today morning who saved me good amount of money.
A possibility is that Asos received a takeover bid for £10-15 per share. Bestseller and Camelot rejected it because their buy price was higher than this. They were offered stock at £4.18 to average out the holdings so that they can accept the takeover bid. MA was left out as high average was already better. MA buying more now to benefit from that takeover bid. Now all big shareholders are onboard and takeover to be declared on the 15th of this month along with trading update. All three big shareholders make money.
Normally they provide 4 month interim trading update, if the results were bad they would have sticked to the 4 month trading update but seeing the good results they are eager to provide an update in 3 months time. I am confident that sentiment will quickly turn positive and these lows will be history for the time ahead.