Member Info for unhooked

...and at this rate it could be the last. I used to follow the travails of AMAT, which had a torrid time mostly because it was confined to AIM and was restricted to only investing at 'qualifying events' (i.e. IPO's and placings). Given what happened to the 2021 edition of AIM IPO's and the dearth of AIM IPO's since, it's obvious what happened to performance.

However, things have got somewhat spicier since the board sacked Amati, appointed Maven, and attempted to change the investment policy to include investment in illiquid unquoted companies, all without bothering to consult shareholders! Now shareholders are taking revenge and have requisitioned a general meeting for the purposes of sacking the inept board and appointing another one nominated by the 'rebels'. You really couldn't make it up! Not invested here and judging by the lack of commentary I guess nobody else is, but this is an interesting 'special situation' for sure.

Popcorn time...

It may not be much longer. Since IPO in 2018, the company's only purpose has been for the employment and enrichment of Cooklin & Co. For private shareholders, no benefit has accrued. Slowly but surely the public markets are waking up to the fact that they will never win. Inevitable end-game will be a delist and take-private. And there's no way those PE guys will tolerate the sort of negative return that mug punters like me have suffered.

Very good Value Investor article posted by Ableton. The writer John Kingham took a contrarian view in Feb 2020 - a time when everybody was singing DGE's praises - and got it spot on. Very prescient.

I remember old Nick Train once being pushed to name one "forever" stock and he chose DGE.... how times have changed.

Deutsche Bank Research cuts Next 15 group price target to 473 (589) pence - 'buy'

Share price holding up well on ex-divi day, possibly because of today's announcement of the purchase of some "AI-driven" dubbing tech.

"The only one making money here is the grossly overpaid CEO whose pay went up to £688,000". Exactly! It's what I've been banging on about for ages.... any surplus this company earns gets mopped up by Cooklin & co. and never ever accrues to the shareholders (notwithstanding that Cooklin owns 10%). Year after year promises are made, the pot of hope is expertly filled, and on we go. A sophisticated scheme of deception it sometimes feels like.

I should sell really, but the current value of my holding isn't huge and the whole MANO story is a bit mad, bad and intriguing. I'm hanging in for the fun times!

Yeah, some metrics up nicely, but others up only marginally. As always with MANO's reporting, there's an element of smoke & mirrors. I'm prepared to hold on with the shares I have but am not sufficiently convinced to buy. And this is the problem with MANO - the market has long-standing trust issues which will take time to overcome, as the muted share price reaction attests.

"Whatever the depth of the scandal/SFO involvement.... including effects on future earnings here, it was sufficient for Tim Dyson to retire!". Indeed. And it was in fact Mr Dyson who decided to buy Mach49. Time to go.

Unfortunately removes a key catalyst for a re-rate.

Bit more risk now. I'll keep my current holding but won't be adding. Bottom drawer.

Oh dear, a profit warning, apparently for various reasons but mostly due to "potential serious misconduct" over at their beleaguered division, Mach49.

Turning out to be a v poor decision to acquire Mach49 in 2020. I'm sure the management team responsible have long since moved on.

Seems the market is becoming more excited.

Today's JV announcement points the way towards further progress for GRID.

In exactly the same position as mayfair on my recent purchase and have taken the suggestion contained in his excellent post and bailed out for a 7.5% loss. In 3 weeks! What's the point fighting this downdraught and the unremittingly bad sentiment that's settled around this company? That will change.... sometime. Will monitor.

Interesting how HBR suffers the biggest fall amongst the oilers this morning. I don't plan it this way but I always seem to end up holding the volatile ones.. Oh well, can't complain as I never complain when it's rising fast!

It's a beleaguered trust, so I agree that any offer will likely come in well below nav.... and be accepted. Still plenty of room to make money though, even after today's rise.

Can't find a specific reason for today's strength though.

Disappointing update from recruiter Hays plc today, which has plummeted to 10 year lows. FDM not in exactly the same business, but not unrelated and FDM also on a 10 year low today.

I invested because I was attracted by the cash, the divi and the seemingly low valuation, but have got this one v wrong I must admit. Nonetheless, if this drops under 200p I may have to get my cheque book out again.

Same sort of break-even for me too Ripley. Still, a less bitter taste is in the offing provided the realisation process doesn't get derailed. Happy daze!

And the fact that Bon Preu was OCDO's "first international customer" tells us something about Bon Preu.

Don't agree with that. I lived in Catalunya for several years and Bon Preu is ubiquitous and has an excellent reputation over there. It was my local. A modern supermarket with an excellent range. It may be regional but it's more than big enough - you don't have to sign contracts with Walmart to make money.

The justified rise on the excellent Bon Preu news has been knocked down within minutes. Hate to be a conspiracy theorist but one has to wonder if the dark arts of the shorters are in play. Investing is hard enough without having to cope with these shenanigans...

Same kind of thing happened yesterday with RWS Holdings - sp rose 10% first thing on some good news, then got knocked back all the way by mid-morning, but ended up 7% at close and is rising again this morning.

Mad volatility today. Up 10% this morning, then all the way down again by lunchtime, then an hour before close the market changes its mind and pivots right back to end up 7%.

I guess you can take advantage of these intra-day movements but you have to sort of glue yourself to the screen to do so....