Any news ... worth buying ? |
Shroders selling nearly half their stake. |
Hmm share price signalling something? |
https://www.theguardian.com/business/article/2024/aug/25/police-acting-as-private-security-for-drax-power-station-say-climate-activists |
Impressive HY results seem to have surprised the market. |
A close above 521p was key imo. Higher tomorrow? |
"The world must act now to address the climate crisis if we are to limit global warming to 1.5oC above pre-industrial levels."In your dreams! Will be much more than that. |
Any reason for the drop today? |
YepHttps://www.energylivenews.com/2024/01/08/uk-poised-to-greenlight-billions-for-draxs-beccs-plan/ |
Share price activity this morning more likely due to UK government expected to approve billions for Drax’s BECCS plan |
Takeover speculation |
With this market breakouts are hard work IMO, any rises are being sold into.Thought this was breaking out above circa 445-450 but failed and could drift back towards 400. No TA but the fundamentals here look on face value to be undervalued (putting potential regulatory issues aside - but guess that's the crux of it!). |
I got in based on the technicals a few days ago. Fundamentals looked decent too and Bank of America have been adding too. Yes it was oversold. Spotted in on my screener. |
 Drax falls are ‘overdone̵7;, says JOHCM’s Lowen
JOHCM’s James Lowen believes the fall in Drax (DRX) shares is ‘overdone̵7; given its critical position in UK energy generation.
Lowen holds the Citywire Elite Companies AAA-rated stock in his £1.5bn JOHCM UK Equity Income fund and – despite a share-price tumble of late – he remains positive on its long-term prospects.
He said there were a number of reasons for the fall, including the ‘ongoing noise around whether biomass is good or bad environmentally̵7;.
In August, the government’s Biomass Strategy 2023 paper indicated ‘the potential extraordinary role which biomass could play across the economy, in power, heating and transportation, including a priority role in bioenergy with carbon capture and storage (BECCS)’.
Currently, Drax produces 5% of UK electricity, making it ‘strategically important’, believes Lowen. ‘Put simply without Drax, system security and capacity would be impaired,’ he said.
The shares were also dented by prime minister Rishi Sunak’s ‘row back’ on certain aspects of carbon reduction, albeit none linked to Drax’s operations, and ‘adverse commentary around factoring, which was correct but already fully disclosed in the annual accounts’.
‘We believe the fall is overdone,’ said Lowen.
Shares in Drax were trading at 402p on Monday.
(Emailed from Citywire this morning) |
Guessing it's been tipped somewhere? |
TodayDrax Group (#DRX) ? 417.7pBank of America Corporation #TR1 11.9% (? 0.11%) ~=0.4m #acquired 20/10 11:51 #RNS Holding(s) in Company |
Got some Drax. Currently a fraction underwater. |
Yep very sad! |
disco0dave
Red ticker is because he hates you, what you say, no matter how relevant, doesnt come into it for the childish mofo.
Wouldn't let it get to you. |
To the down ticker, please explain why you disagree with posting news relevant to DRX?Https://www.thetimes.co.uk/article/drax-feels-heat-from-short-sellers-lcsl72x37 |
Being shorted, 3.4%. Includes ShadowFall and Blackrock. |
Back to lows of 2022
But an opportunity |
What the.....? |
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Hot Features
Premium
