To me the sell off today is a result of this mornings RNS - people are disappointed with its content (or lack of) which I quite understand. What I don't understand though is why issue the RNS this morning when they already "dangled a carrot about news in the conference call", and how come its timed for 1.00 UK time when US companies tend to issue their regulatory news - seems strange to me.
I wonder if the shorts will go for the jugular later this afternoon - I always look at the charts here to give me an idea of the range the share price may trade and the bottom of the graph today has changed to £23.50 - that's close to the £23 bottom it reached a while ago.
Perhaps the online companies have a finer profit margin than Next - I have to be honest I've been completely confused at the share price action here and have just been looking for potential reasons to justify the low price - maybe a turnaround will happen some time this week - it's certainly overdue.
Since the last spike at £28 odd and ever since the share price has been going down - it can't just be down to management issues as BOO have been in the same position so maybe it's just continued concerns about supply chains impacting on profitability.
For what it's worth, I think both Claire and Heyarnold are right - I agree that youngsters will be buying, but I also think there's something worrying the market in respect of ASC as its been constant selling now for about 8 days - the last low was £23 so I wouldn't be surprised to see it get there and maybe we'll see a bounce then - perhaps the market feels that the company is a bit of a rudder less ship at the moment and wants news on the leadership - who knows.
Has come out to say there is no evidence that the covid variant evades vaccinations - seems like their strategy of trying to shock their own population into getting a vaccine has backfired with travel from a lot of European countries being banned until there's more clarity.
Is what I'm finding myself again with the share price - retail sales last week showed their first increase in 7 months, its Black Friday and there are indications that online sales have been doing well, there's signs that the supply chains are easing, and even the guy from Barclaycard was saying this morning that retailers know what they're doing and will have plenty of stock ready for the Xmas period and yet the share price is where it is - even given the news out today about the new variant and the over reaction in respect of travel bans etc for what is just 100 cases so far, I'm still at a loss to why the share price hasn't started picking up a bit - maybe a better week next week.
CEO on Sky News at the moment saying that online sales are 8% up on the same week of 2019 - sales of clothes - especially going out/party clothes doing really well but supply chain issues are affecting larger ticket items such as TV's.
CEO is on Sky News at the moment - saying that online sales for the same week are up 8% on 2019 - says that clothes are flying off the shelfs and its going out clothes/party clothes selling well. Also saying restaurants and bars doing well.
Thanks for that Ableton - I think looking at those figures, in my mind, I'm thinking a share price above £30 is what's needed for a reversal of what feels like an awful long downward trend is what's needed.
I have to be honest I'm totally confused as to why the share price is still at such a low level but at least its not an ASC specific problem which I suppose is quite comforting - I looked at a lot of share charts last night - CINE, CCL, DLG, TW., BOO, ASC, TUI, IAG, EZJ just to name a few and the "sell off" on all of these seemed to accelerate at the end of September - let's hope the trend reverses soon.
Stated that Bestbuys dropped by 11% yesterday because they're suffering a spate of targeted burglaries/raids - nothing to do with supply chain issues or anything else so I think someone was telling porkies yesterday!
Thanks for that information - can I ask if £28.89 is the 50 DMA? I'm not a chartist but do understand double/triple bottoms and tops so understand the bullish and bearish indicators they can be - if you don't mind me asking, looking at the chart here, I saw the absolute bottom in recent times has been just under £24, and we've had two further drops down to £25 - to my mind that's the triple bottom hit - would you agree?
I just wonder if there's more order filling going on - maybe the retail sales figures out last week caught a few out and considering the amount of economic data that is due out this week, if its good news for the sector, then the share price should start going back up again.
I suppose it all hinges on how sales do over the next few weeks - if they are weak then you may be right about it going down further - personally I think people are so fed up with covid now that there's going to be a bumper Xmas in respect of sales so on that basis the share price will hopefully start its long term rebound.
I agree about the manipulation - it was strange that there was a bit of bad press over the weekend specifically in respect of ASC having problems with supply chains which doesn't seem to be just isolated to them - if you were of a cynical mind you would think that it was a deliberate ploy to drive the share price further down.
It's been a day traders share for years though. The new appointments, in my view, won't change the share price dramatically it has to be the market sentiment that changes - if you look at BOO - they haven't got the same management issues as ASC and yet their share price has been affected in the same way - ie long term downtrend which actually mirrors what the retail sales figures have been doing since March - Friday was the first increase in retail sales for 7 months so maybe that is the turning point everyone has been waiting for.
Have just been saying that shipping costs have reduced significantly since October and that supply chains are starting to loosen up - I wonder if those things combined with the upturn in retail sales figures is finally the turning point and its onwards and upwards from here - fingers crossed for a rebound now.