Central bank announcements this week on possible rate cuts and when (remembering this is election year in many countries and even though central banks are supposedly independent i can see political parties and governments putting political pressure on to favour incumbent governments and parties, by cutting interest rates asap to help boost economies and therefore incumbents' chances electorally).Call me cynical but i don't buy this 'independent' label given to central banks.Who nominates our BoE chief?...the Chancellor.Who nominates the Federal Reserve chairman in the US?...a president.Very independent vetting process then! Also some big corporations reporting this week so good results could boost markets both sides of the Atlantic. |
Being bid again now that all the news regarding smoking bans had been baked in ...
Sell the rumour BUY the news lol |
A run up to 2400 finally before the 9th Feb announcement? |
Sensible post Hope. Thanks. |
Me too.It comes with the territory.Speculate to accumulate.Like all shares you get winners and losers.If you don't like the risks involved in individual shares then park your money in a fund ,bonds or a savings account in a bank or building society.Your choice. |
redbaron
been there with oil and gas... |
 You see it all the time in mining companies and oil and gas.Preliminary geological surveys and sampling from a test drill in mining or oil exploration can give a great reading,the company announces the result of a test well/mining operation, and the share price shoots up.When a viability study is done as to whether the reserves are big enough to make a new mine/new drilling well economical gives a negative conclusion, then the share price tanks.The companies i presume are duty bound to give news like this of their company to the markets and the share price will react accordingly.Either the company benefits hugely from this new discovery or wastes valuable capital expenditure on producing a dud.I don't see the difference.No one can fortell what is going to happen in the future,but i think one can unarguably predict that cigarette sales will continue to fall as governments and regulators globally are anti-smoking.The reality is cigarette volumes will continue to decline and BATS CEO and board are just being realistic in their assessment.They would probably be rightly criticised for continuing to keep an inflated,unrealistic, asset figure on their balance sheet when it doesn't merit such an valuation. |
Surely thats just business. Manchester United paid £80m for Anthony and he is worth 50p so can all man u shareholders claim they were misled. The law firm must have thought about the action but it seems unlikely to succeed. If it does it would a precedent for every shareholder of every company. |
Altria had to write down the value of Juul, and what they paid for it, so i don't see what the difference is.The big tobacco firms overpaid for something that was materially impacted by legislation (Juul) or changing market conditions ie continued trend loss of market share/declining stick volumes (BATS).Are BATS in their financial statements obliged to forward guide that there might be a future write-down of asset values some time in the future or not in their forward guidance? Seems a moot point to me.The market must have assumed this(a write down of some description) was going to be a distinct possibilty at some time,the only question was when the timing of it would be announced.When BATS decided to take the decision, and time the announcement when they did,to write down asset brand value on the balance sheet,it was entirely up to the CEO and the board and i don't see how you signal this to the market in advance without it affecting the share price.The old CEO didn't perform the write down on his watch but the new CEO felt obliged to carry out this action early on in his tenure.I don't see where there's a class action if two CEOs have differing opinions at the timing of such an announcement. |
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) British American Tobacco materially understated the risks and potential likelihood of an impairment to its Premium American Cigarette Brands as a result of longstanding headwinds and; (2) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. |
if they won does that mean every one who bought shares in the time period can claim??
i cannot see how it would work,the share market is buyer beware surely??? |
Yeah i've seen that.I bought shares in that period but all investments have the caveat that prices can fall as well as rise in price.I'm not sure how far they'll get with this class action.I don't imagine the new CEO or the board wanted to make this move but it is an economic reality that stick volumes are falling.The decision was taken around 2016 to acquire the remainder of Reynolds that BATS didn't own, which was probably not the greatest use of the balance sheet,but we are where we are. |
Cohen Law firm files class action for damages for BATS shares bought between February to December 2023.Simly wall Street report |
I am not seeing confirmation of a downward trend. The share price is just showing sideways chop, presumably to continue until we get the next update. Obviously a broad market sell off will spare few, if any, shares, so I agree with you on that. Not buying at these prices personally. Probably not until the next update, which will hopefully be solid and reassuringly dull :) But will take a view then. GLA. |
again and again new lows on lower highs... Confirmation of the downward trend.
At the moment it doesn't look like a bottom is forming. in a broad market sell-off it can go much lower.
Wait until bottom forms and an upward trend is established.
My opinion. |
Re Gecko’s Bloomberg article.
Biden seeks the votes of the vociferous anti-smoking lobby but fears an adverse voting reaction from millions of black voters having their beloved menthols forcibly taken from them. It will be interesting to see whether the FDA legislates or quietly retreats in this election year. |
So much negative doom and gloom regarding bats. I am staying put. It is also very interesting how these anti cigarettes campaigners shout louder than anti alcohol campaigners. Alcohol surely causes much more problems in society and hardly gets a mention. |
Yesterday morning |
UBS cuts British American Tobacco to 'neutral' (buy) - price target 2,400 (2,900) pence |
if you took every thing off the table so to speak people could not buy them like fast food,alcohol,drugs illegal but every where,driving cars which kill,so many things that need to be removed from humans so as to live for ever. lol |
IMB gone blue for the day. |
Guess the yanks will be picking up a few cheaper shares today. |
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