RE: SP22 Aug 2018 18:04
I've just quit boohoo for now. Im of the same opinion. News up until now points to greater online sales than high street and so should expect boohoo to follow. But the down turn is probably due to manipulation by some people. Like when the price has dropped someone buys £1million plus shares, then people get excited and buy and when its gone up enough, I see a million plus £ of shares being sold all at once, to create a fall and trigger stop losses and bring the price down. Also, I'm noticed the pattern in after hour trades. I think people are leaving this share because of the yo-yo-ing and share keeps dropping. Its hit some resistance and then hasn't recovered and its been a while and people want quick returns. Possible as we get closer to the next rns date, we could see a rise, but cant be certain, since there has been news of that amazon tax, which is likely to stunt growth prospects and shrink margins, and investors want growth, also this Brexit fiasco, and these dishonest politicians, that will say Brexit but don't want it. There's no certainty as to what the trade agreement will be and there's scare mongering about leaving EU, like tons of job losses, food shortages etc. Which is complete hogwash. If we have no deal then the default is WTO tariffs, and Ive seen that they are between 6.3% to 3.8%, (https://www.wto.org/english/thewto_e/whatis_e/tif_e/agrm2_e.htm) so not such a massive hit. After we will be able to set up zero tariff trade agreements with any country in the world, no need to ask EU to do it for us - not that they'd bother. Price of products are more competitive on the one and only single market (World Market). So we should expect that our 20bln of trade deficit will go down. I mean do they really think EU countries are just going to stop selling parts and food to us, just because of Brexit.
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