Market manipulation at its best, 15% drop Friday, 8% rise today, results out tomorrow |
Jeezers creepers not that much Porsche |
What’s your idea of a large position, about 120 quid?@ |
Seems all Brokers pricing this in excess of 80p. Will be researching over the weekend with a view of taking a large position here. |
Frustratingly bought in here recently around 60p believing that "the only way would be up" on the share price, now that the country is back up and running again. Share price driven down 10% in an hour yesterday says to me (apart from manipulation!):
a) Rights issue at lower price on Tuesday to prop up balance sheet?
b) Big write downs - probable and totally foreseeable with Spalding and other factories to close and mass redundancies etc.
c) Results are even worse than at height of CV19 hysteria period in April.
I suspect its going to be option a)but time will tell. Regardless, eating isn't going out of fashion anytime soon, so I will hold for long term recovery to 100p+
Just my thoughts for what they are worth
Rich |
If the trading statement on 8 September is negative then we know it was an insider selling and should be investigated! |
What happend here????15% drop with no news?Anyone know why this may have occurred? |
What a useless thread this is.. No charts or RNS Lists!! |
Not sure this level of debt is sustainable if demand has taken a significant hit. We will see. |
 Interesting, 1224saj!!
No shaky, 'secret' film ever looks good.
However....lets take the heat out of it and look at the facts:
He clearly stated several things that aren't especially a problem, in my view:
1) He reiterates and urges that if anyone is unwell, or if anyone in the family is unwell, to stay at home and to fully recover. That's a good thing and is responsible management.
2) He strongly urges anyone who IS in good health to TURN UP and get to work! That's also not a bad thing. They are after all supplying an essential: food!....not something that is expendable and unnecessary.
3) He tells everyone that IF (IF), going forwards, he is in the, quote "unfortunate" position to lay anyone off, he will naturally be inclined to choose those workers who WERE in good health but failed to show up. Again that seems fair enough to me. If cuts were being made to the workforce and I had a history of not showing up when I knew I could, I'd expect to be released ahead of those who did show up.
4) He reiterated the need for everyone to wear face masks and gloves at all times and tells the workforce where they can be found on site. That's responsible, in my view.
If we take the opposite to the above, it would read like this:
'If you're unwell with covid, I don't care, turn up to work anyway. If I have to make cuts, I'll fire the healthy workers who have historically given me the best service. Oh, and don't bother wearing any face masks and gloves'.
Anyway, from what I understand, Bakkavor are not planning on laying anyone off from this plant. The only thing that was off, was his tone.
From an investment point of view, this news report may have actually highlighted an oversold company to further investors. And if sentiment is hit in the near term there will surely be a cracking buying opportunity on top of the collapse in share price that we've already seen.
As I said.....this company is a supplier of good quality food, with a >£1B turnover supplying an essential service at a time of great need.
Needless to say, I would be more concerned if they were supplying cotton floral bonnets for Easter.
Reading between the lines, we can at least deduce one very encouraging thing: the company is clearly doing business with sizeable orders to fill......which is a hell of a lot more than can be said for just about every other business in the land at present; food and drink are just about the only sectors trading. Management would not be urging his workforce to show up if there was nothing to do.
The fall here is pretty crazy......especially when contrasted with the share price rallies at the likes of say, CINE - a company entirely shut down and effectively not trading for the foreseeable future (along with all the losses that company will have to RNS going forwards).
I still think BAKK will bounce strongly at some point. |
Not after the bad press it's just received on the 10.00 evening news ?? |
Buys more than doubling sells once again.
Can see a break through 100p again as and when any suspected sell order is filled.
Certainly will have to move eventually if the buying pressure is sustained.
Usual AIMO caveats apply etc. |
SP should be advancing here.
Pegged back at 67.60p since the open and 100K buys flooding in since 8am.
Seems a large order is being filled.
As I previously posted, even a marginally lukewarm update from the company here will be strongly supported.
Freshly prepared goods still moving quickly in the supermarkets.
Soon to be oversold, again.
AIMO etc. |
Some support beginning to arrive 'back at BAKK' today.
Of course, like most companies there will be a hit here, but in the fullness of time perhaps it will not be half as bad as the market currently suggests.
This is a market leading company, with 80% of its business in the UK and supplying blue chip retailers like M&S, Waitrose, Sainsbury's, Tescos and the like. We know recently that the supermarkets were outperforming to the tune that has barely been seen before, with over a billion spent on food in a short space of time.
Purely from my own observations whilst shopping, the supermarkets are busy, the trolleys are full and freshly prepared produce does continues to sell. After all, in times of crisis people buy not only tinned foods and packets of rice......but they also buy for comfort and to boost morale.
Further, I would imagine the Chinese market is now beginning to 'stabilise', with the, quote "volatility" beginning to plateau.
At the end of the day they are providing an essential service and something that is actually needed....or should I say 'kneaded'. Boom boom. I also try to see it from the supermarkets perspective: I don't think for a moment that Waitrose and M&S are prepared to sit back and happily limit their customers choices only to the tinned and dried. People still want some convenience and crucially 'range' when they go shopping....that is, after all, why we saw such a scramble to buy: so people could get all that they wanted.
Have added to the monitor and it will be interesting to watch this one play-out.
I would think even a marginally lukewarm news / update here will be heavily supported as so far the market has been served only a bucket of iced water.
We'll see. NAI, ADYOR etc. |
It could drop further yet - Customers are not as trusting of who has prepared pre-packed food right now and also volume in the market has disappeared in key outlets. That combined with BAKK's debt position is not a good combo imo. |
Spot on who ever you are. What a stock to trade ? |
Back to 60p then after that update this morning. |
Poorly managed company making over priced acquisitions. Smart money will take them out, loose current exec, put new school in |
Looks like the corona virus claims another victim here? |
Good write up in the Sunday Mail today ref BAKK. |
Market maker they always play game |
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