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It is 25% of 20 trading day average. Buyback should now accelerate as yesterday's trades will drive the average up notably.

This was already explained in this chat before. The brokers are only allowed to pay 105% of the 5 day VWAP. Always when the price increases sharply, they are out of the market for a few days until the 5d VWAP is more aligned with spot price. We may see another buyback announcement on Monday.

I think they may have been dragged along by Future plc who lost nearly 20% in the wake of the lukewarm trading update.

Why would a profit warning result in a 25% increase in share price in the same day?

Interesting. They are delivering exactly what they promise: "We will [...] launch strategic partnerships [...] in the year ahead."

I believe this is just the surface of a new CEO's efforts to streamline operations. Quote: 'We will continue to exhibit discipline and efficiency.'

I don't get this comment. a) it was to be expected that some profit taking would take place after the SP increased 20% in a few weeks, b) what if the seller would sell for other reasons than profit taking and the share buyback would not be in place and c) the buyback will be accretive to EPS regardless of short term SP considerations.

I also wonder why you guys do not focus more on the cashflow. Show me one company that has similar FCF conversion. Accounting profits are distorted by so many not meaningful IFRS non-sense.

https://www.fool.co.uk/2022/06/01/3-of-the-best-shares-to-buy-today/

I guess some people assumed, rightly or wrongly, that Snap's issues also apply to these guys. But other than Spiegel, the directors confirmed that the company is 'comfortably trading in line'. And Snap was trading at 7x revenue, not 7x cashflow. IMO with CNIC you take the risk whether cashflow yield is 11% or 12% not whether you ever break even or not. Good stock for your retirement fund.

There's still a chance the deal will fall through. Also many owners subject to taxation of dividends will be sellers as any money dividend out will be taxed. So they will never see 8.8p in their pocket.

Remember September last year. Same thing happened. SP spiked to 7.5p on no news. And was then eroded back by profit takers. If there is no 2.7 announcement under the takeover code by tomorrow AM it is probably just yet another fat finger event.

It is the first time I hear about ICM having threatened the Company with litigation. What other skeletons are in the closet that need to be settled for a million a pop?
Also, apparently the Company must have given warranties on the quality of its business to ICM which must have been important to ICM in determining whether to accept being partially paid in paper. Would be interesting to learn what is wrong with MMX that is important enough to sue. Time for a class action?

Re non-compete: we should not worry about any competitor hiring them. No one would do that. And if even, how much damage have they done to their current competitors. Nothing to fear here.

The problem in this case is that $1m less revenue most likely means $1m less EBITDA, too. Which then makes H1/H2 2019 not $3.3m and $3.7m but $3.3m and $2.7m. Same for revenue, which looked like $8.9m to $10m, which would now be $8.9m to $9m. Boom, there it goes the hypothesis of a stronger H2. Which would then mean FY2020 will be more like 2x H1 2020, c.$17m revenue and $4m-$5m in EBITDA. But I still believe in the long term story. Will buy again when we hit 4p.

Let's not forget the $2.1m impairment on trade receivables at the occasion of the 2018 interim accounts. This was also some kind of revenue recognition issue: sell stuff (probably premium names at inflated prices) on credit (probably to dodgy counterparties), recognise the revenue and then be surprised to not get paid.

Well, when a share that was trading within a bandwidth of 0.25p around 6p for five consecutive month and then appreciates by 20% a few hours before a Friday market close, I was indeed expecting big news. But it proves I am too optimistic too often. My bad.

I am deeply disappointed. I expected a leak announcement of an impending takeover bid or at least a highly accretive acquisition. But nothing. Even in the absence of it, the directors would have had all weekend to draft a trading update or something to support the highly welcome spike in the share price. Meh. Let's see how long it takes for profit takers to erode it away :(

Your revenue forecast is to optimistic. MMX' wholesale price is $69. Probably some are discounted, to0. Hard to see revenue north of $1m.

If this business is so predictable, why does the company not reinstate guidance? At least for FY20 and FY21? Or don't they have an idea? Or is there an ugly truth? Like more write-offs and bad debt provisions similar to the big bath when the 2018 interims came out.