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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Jessops | JSP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.38 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.38 | 0.38 |
| Top Posts |
|---|
Posted at 20/1/2010 14:32 by spectoacc He'll very obviously be short, no one with even a rudimentary knowledge of the markets would be long JSP.However - with so many shares in the hands of nominees, it's going to be interesting to see which way the vote goes. Do turkeys vote for Christmas? |
Posted at 01/1/2010 13:09 by spectoacc Try reading the threads already in existence - JSP does not own any Jessops shops, the name, or any of the business. |
Posted at 12/12/2009 09:26 by spectoacc "Work" = efficient market. Markets never fully efficient of course; but I've been making the argument for years that that's mainly due to the inequality between longing/shorting, or "buys/sells".Think of it this way - if you owned 1,000 JSP bought at a quid, and it cost you £12.50 to trade, then there's no point selling at 1p - it'd cost you a net £2.50! Multiply that up by 1,000's of people, at varying sizes/prices and trade costs, and you have a large chunk of shares that will never be sold even when the price is 10x the "value" & the holders are made well aware of it. Add in the ignoramuses who appear on this thread telling us what they think of JSP's shops atm, & you've got a weight of buyers & dearth of sellers. Net effect - inefficient market that doesn't "work" & creates false prices. Got to live with it - but don't like it, doesn't really do anyone any favours. |
Posted at 11/12/2009 07:50 by spectoacc No - I'm saying, just a few posts above, that the market doesn't work. It doesn't work because it's impossible to bring the price into line by shorting JSP. |
Posted at 10/12/2009 07:30 by spectoacc > The whole system's massively geared in favour of longersYes it is. Everyone knows JSP is "worth" .097p a share - the directors have said so. So why did it trade up over 1p for so long, and even now be worth a multiple? Because the system's massively geared to going long; shorters aren't able to move the price to where it should be. Makes the market hugely inefficient. It simply isn't "..a basic tenet of the law of the land that you can't sell something you don't have title to". That's highly ignorant: 1. Shorting isn't, in any way, illegal. Even the ridiculous financials shorts ban was reversed. 2. Many businesses rely on selling something they may not yet "own". Most of Amazon's business model! No warehouses full of stock - sell it to the consumer, then order it from the supplier. In the interim, you're "short". 3. Why do people have such a problem with sell-buy, when they're so comfortable with buy-sell? |
Posted at 18/11/2009 09:17 by spectoacc Agreed re suspension; the problem is that "long" ability is unlimited (anyone could buy), whereas "short" ability is next to zero. That's what makes a mockery of the mkt - there's no equality in demand/supply to create a "correct" price.Personally I think that's true of most of the market, and pretty much all of AIM - so many co's go up 10x, 20x, 50x, before ultimately crashing. It makes for a huge misallocation of capital. JSP's a particularly good example because it already has a "final" price for us to reference: ie 0.097p. But as you say - the net effect of not allowing freedom to short is that plenty of mugs will have bought/be buying over 1p. A look at the disclosable shareholdings in JSP shows: Barclays Stockbrokers 16.85% Selftrade 8.03% TD Waterhouse 7.68% Halifax Sharedealing 7.34% That's a lot of PI's due a shock, and no doubt an "Action Group" at some stage.. (JSP far from the only example; the Pink Sheets in the US have a lot of bankrupt co's trading at high prices, eg the former GM is around 65c, yet "real GM" has already been moved to a different co, the old one being left with the liabilities. But old, non-GM went up 14% when New GM announced they were paying back some govnt cash early!). |
Posted at 26/10/2009 17:54 by fishman To say that there are no more short positions open is just a guess.Pbracken has neither shown off how much claret he's bought with JSP proceeds, nor re-iterated his insistance that he will be able to see the 0.1p buy price. I'm guessing he's a bit worried by now...or else has closed without making much out of it. Small traders are forever claiming/insisting they know what's what. They typically know f all (or at least no more than the sheep they continually deride). In the case of JSP, something has gone on...and mentalist chancers oblivious to a valuation of 0.1p has not been a good enough explanation. It's either short positions closing (which no-one has successfuly argued against) or it's punters thinking there is a way out that hasn't yet been made public. From day one I've held the former view, and everything seen since has supported rather than denied that. The current spike is not at all complete...let's see how far this goes. |
Posted at 01/10/2009 13:12 by pbracken 44% of JSP is held in nominee accounts (managed by TDW, Halifax, Barclays and the like). Most of the rest of the shares are held by PI's with share certificates (expensive toilet paper, in a sense). You ask why the big boys don't short JSP. The answer to anyone with a smidgen of knowledge is clear: there is no stock to borrow (from institutions) for the said purpose.JSP is toast. Sad, but there it is. |
Posted at 29/9/2009 23:18 by fishman Seeing as this situation is unique, and is leading to all sorts of speculation, I guess we can all have a go:I wonder how many shares are by now held 'short'? Since 'everybody' knew at once that JSP is worth 0.1p a share, that is a dangerous scenario surely? What stops people stake-building, knowing that there are many traders gleefully shorting the backside of JSP? This could then create a short squeeze, and traders who went short would end up chasing the price up through forced liquidations of positions. Thus rather than go towards 0.1p, the price may well do the opposite. One should maybe take into account that there are a lot of private small holders of JSP who won't bother to sell their shares because it would cost more in broker charges. This will add to the lack of liquidity as the price drops. I wonder how many shares are held like this? |
Posted at 17/9/2008 21:30 by bingobarnes "If JSP has breached one of HSBC's covenants, I suspect that Friday at 12.00 will be the choice time to pull the plug. If it has not broken a covenant then it will limp on until the grim reaper arrives."Diddymen - if JSP has breach its banking convenants it would have had to issue an RNS - arguably it should issue one if it is likely to. That said anyone who is thinking in buying JSP needs their head examining - apologies Salpara. To use your own words, yes you may just go and stick a grand on the spin of the wheel down the casino. Throwing a grand on for a throw of the dice, spin of the wheel isn't investing. I am constantly amazed by some of the staggeringly optimistic posts not only on JSP but other stocks that are clearly in dire straits. I am not saying sell JSP specifically, but can you honestly in these markets advise people to buy? When you say buy JSP (or indeed any stock) you are buying because you believe you can get the best return from your investment into JSP shares vs. buying any other share, bond or simply putting your money in the bank or premium bonds etc. If anyone here truly believes that if they buy £1,000 shares in JSP they will secure a better ROI over for example a year than any other investment, then I really do think you need to question: (1) whether you've been studying the markets, JSP and other companies closely enough; and (2) if you have the right emotional attitude to invest in shares. ...I am sure I'll be shot down over this, so please if you can justify saying JSP will give a better ROI than any other stock I am always open to being convinced. As I say, the above applies to any stock not just JSP. But as I say having seen some of the bullish posts, and on here as on other boards today seeing retail investors ask the most basic question - having just invested money they could probably ill afford to lose (chasing loses) - I do fear for how many private investors will be burnt out by these market conditions and sadly will have such an experience where they will never buy shares again. |
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