RE: Not a good start23 May 2024 08:19
The market response to easyJet results was a scam. Exactly the same October 23 down 90p on good results.
This is very easy to achieve. Results delivered, massive sells in opening auction, everyone sees the drop stop losses triggered and panicked sellers drop the price. The momentum lasts a week or two.
A few rocks thrown creates a landslide and those controlling the market win, the small investors get scammed.
See it for what it is. This company is doing very well, results were strong. Right now they are making nearly £3m a day profit. They have a holiday business that's out pacing all competition and will seriously squeeze ryanair and Jet2.
H2 they will deliver around £1bn profit and pay a dividend on 20% of £650m.
Remember the incorrect headline on results morning saying that they had missed their H1 target of £340m when actually they hit dead centre on £340-360m.
That was a very powerful force and part of this deception. When that big money is ready to take it up it will and us with it.