Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Asos Plc received a takeover approach from Turkish online retailer Trendyol in December, the Sunday Times reported, citing people in the City of London familiar with the matter.
The proposed deal would have valued the online fashion retailer’s shares at between £10 and £12 each, people familiar with the matter told the newspaper. A deal at that price would value the company’s shares at between £1.2 billion and £1.4 billion, according to Bloomberg calculations.
Asos’ shares traded between £6.79 and £4.86 in December. They closed at just over £3.50 on Friday. Talks between the companies are no longer active and both declined to comment to the newspaper.
Trendyol, who was working with advisers from Morgan Stanley on the deal, approached Anders Holch Povlsen, the clothes retailer’s largest shareholder, to see if he would be interested in participating, the people told the newspaper. Povlsen’s investment vehicle declined to comment to the Sunday Times.
Https://www.bloomberg.com/news/articles/2023-06-04/asos-got-takeover-approach-from-trendyol-last-year-the-sunday-times-says?srnd=premium#xj4y7vzkg
Asos Got £1.4 Billion Deal Approach Last Year, The Times Says
Asos is on bid alert after the troubled online fashion retailer received a £1 billion approach from a Turkish company backed by Chinese giant Alibaba.
City sources said Asos received an approach from Turkey’s Trendyol, a fast-growing online retailer, in late December. The mooted deal would have valued Asos at between £10 and £12 a share.
The retailer’s shares closed at £3.50 on Friday after it was ejected from the FTSE 250. Leading credit insurers have also recently withdrawn or reduced cover for the retailer’s suppliers, a move that could further squeeze its cash flow.
Trendyol is understood to have been working with advisers from Morgan Stanley. Neither party is under pressure to confirm discussions because there are no live talks. Asos and Trendyol declined
Last year, Argo was one of the very few blockchain miners listed on stock exchange. Investors had very little options to invest in Bitcoin related stocks and not many investors wanted to invest directly in bitcoin as limited number of trading platforms were available and investors feared regulatory risks of investing directly in Bitcoin.
This year, a number of new companies have been listed to mine bitcoin and many new crypto trading platforms have appeared which reduces the potential for Argo to repeat the last bull run. I myself have created few different crypto trading accounts and trade directly in bitcoin and other alt coins rather than buying blockchain miners. The NASDAQ listing is not a plus for Argo as there are plenty of miners registered there so investors have range of options. Early this year, Argo was trading at a very very high P/E ratio which reflected positive market sentiment for the blockchain company but eventually all stocks return to there fundamental value and Argo is no different.
This is not an investment advise but just my personal analysis.
Advance energy drilling next month and stock is trading at huge discount for the type of resource they are targeting (20000 bopd). Stock is trading above the solid support of 3.6p and it is only going to increase in value from here. Make up your mind and don't complain later that you did not listen to me.
I sold out the day I saw some fund shorting this. Now it is clear that the fund had insider information.
My take on this is that without any further news which is not going to come any time soon, this is going to go further down in the next few days. I know we are all tempted to average down or buy a position here but from my personal experience watching 88e, Bahamas petroleum, and predator oil, this is only going to go down believe it or not and this is not to demotivate or trick you to sell, this is just history repeating itself. I will buy back once the dust settles which isn't this week at the least. GLA
Bit nervous about the short that it was opened on the same day as our last twitter video. Do they know something that we don't? There was another poster here who was also suspicious of the twitter video. Not sure what to do with my 23946 stock holdings. Thinking of top slicing about 50% to be on the safe side. Opinions are welcome.
Not going to argue about who was right or wrong as I trade to make money and not to win an argument. Here is my take on Bitcoin as it is trading below the key support of $30k. If this does not hold, run for the hills and this is just the beginning of what is next to come. You may class this as a deramp or whatever I don't care, but this is what charts say at the moment and I am patiently waiting on the sidelines to find a better entry point for a swing trade.
Going back to reality.... BTC going towards $30k and this is going to trace it back to where we were in the morning.. I did a quick swing trade and got out at 102.55.. will get back once back in 80-85p range.
Bitfarms is a bitcoin miner which was trading on Canadian stock exchange and got listed on NASDAQ on 21 June 2021 . It mines more bitcoins than Argo and have mining margin of about 80-85% all with renewable energy. The market Cap of Bitfarm is about the same as Argo and it has not increased at all after listing on NASDAQ. So all in all this could happen with Argo as well otherwise anyone can clarify why it is so?