RE: Sudden drop15 Sep 2016 16:36
Really I'm thinking it should be closer to £4-£4.50+ quite soon, as £3+ish is still irrationally pessimistic. It seems to be getting missed that earnings here are still fairly greater than that of JD sports regardless of the downgrades. SPD now trades on a P/E of just 6.2 vs JDs 28. IMO If anything JD has overshot the upside on unrealized potential whilst SPD's realized potential is being ignored.
Anyway its good to see SPD still owns 3% or so stake of JD. Surely will have given a £7+m profit on paper in the last week! so even with JD performing well some of that will come back here.
Finally, really thought the event with MA and the cash was actually a good thing the other week. Kinda feels like that turning point moment where you know things can only get better?
Lets see what happens!