Future Share Discussion Threads

[ggrantsu] 21/12/2023 22:40

yeah I mean this is just so obvious...anyone trying to defend this just sounds like someone who doesn't understand any basic human instincts.

she's telling investors while presenting results that the future is bright and that she's excited for the next year...if that were even remotely true, she'd wait 6 months for the shares to re-rate.

sorry takeiteasy, your being completely blinded here as a holder. i'm totally gutted at this news but i'm not going to chalk it up - it's completely heinous.

[pireric] 21/12/2023 22:31

"once you have resigned you take your money elsewhere - this is established business practice"

At a small tiddler company where you may have a large shareholding? (e.g. £1m total value). Sure. But that sure is not established business practice at a nearly £900m large firm. Nobody could care less what you did with your sub £2m total holding.

But in any case, you probably don't resign as CFO and sell a large chunk of your shares if you think Future has a very bright short-term future ahead of it. Let alone if you're actually still going to be with the business for quite some time.

Just like investors in the market, profit motive tends to rule over other things. You're not going to sell someone an asset on the cheap if you genuinely think it is cheap. In other words, you're not going to sell a £10 note for £5 just because you resigned. It's quite a circular argument as to why you would resign as well. CEO and CFO changes don't tend to happen at positive intersections of a company's strategy. It's more often than not because something went wrong. But it also doesn't feel like the CFO has been forced out, hence the lack of a replacement.

Eric

[takeiteasy] 21/12/2023 22:07

we can politely agree to disagree, it does not matter if the company was going to the moon and back once you have resigned you take your money elsewhere - this is established business practice...you can keep repeating the same arguments but everyone will make up their own minds about what is sensible business practice...

she is being very kind here - most would sell 100% at the first available opportunity not keep back 50% - your comments are taken with a pinch of salt :)

[ggrantsu] 21/12/2023 21:48

no takeiteasy I'm afraid you are just not facing up to reality here. I'm not being speculative...a holder here and have the same interests as you. But her selling on the eve of the company's planned recovery with the implementation of the ceo's new plans being put into action...there is nothing you can take from that except from negative connotations. the stock is at one of its lowest relative valuation levels in history and she thinks 4.5x earnings is a fair price...

ridiculous and you shouldn't less bias get in the way of assessing this.

[takeiteasy] 21/12/2023 21:08

You are clutching at straws in the case that someone has resigned, if for sakes of argument they sold the lot on the last day before they left next year what would you say then...there is no specific moral obligation to support the firm during the notice period by holding on in my view...by keeping such a large amount still with the firm that is showing more than enough commitment - how much do any of us hold here compared to her remaining balance...:)

[pireric] 21/12/2023 20:43

I would say it's a fair conclusion to make that selling ~£650k of stock outright, having just announced you're resigning but staying in the seat for a while, and while being CFO, is a red enough flag/not a good sign. Particularly as the company is on a streak of poor results.

Sometimes the most obvious interpretation is most likely to be accurate, I think

Eric

[takeiteasy] 21/12/2023 20:17

Penny sold (outright sales not linked to other factors) 78,964 shares from a pot reported in 2022 accounts of 158,053 so about half.

Her stated income over prior 2 years was c 1.4m so the sale of 544k reported above t is about 40% of the 2 year income reported - not life changing in her context at all I suspect....

There is a lot of speculation in your post above to imply this is somehow shambolic etc etc...you have no idea of the reasons ...

[ggrantsu] 21/12/2023 18:22

hmmm as I said earlier - this situation is complex and it certainly isn't a case of 'oh it will just reverse to the previous highs with not much work' like the likes of Paul Scott etc are now saying. This company faces several macro and technology headwinds at the same time...while the people at the top right now are clearly in a real mess. Jon is totally unproven and although a good presented, he hasn't yet reversed any performance tangibly. This drop from Ladkin Brand today unfortunately might send this into free fall tomorrow after a good recovery...the RNS is timed at 4:25 but I dont think it would have become visible until the minute before close...maybe I'm wrong and it would have been digested but not convinced...feels like company was purposeful trying to hide a terrible piece of news.

She is supposed to stay on for a year...yet has dumped even more stock at effectively 'any price'...that says she has no confidence in Jon's plan for this year to be honest and has shocked me quite a bit i must say. its shambolic stuff...

in my opinion...best option here is for a PE bid who want to run it for every penny they can in terms of FCF. clearly no bids incoming otherwise she wouldn't have been able to dump!

it's difficult this one...very very cheap but I am in many ways undecided as to whether it may be a value trap. Oh dear.

[riverman77] 21/12/2023 17:51

Recently visited a few of their websites (brands as they like to call them). Techradar, Tom's Guide, Country Living, plus a few others. Was seriously unimpressed with both the content and particularly the terrible user experience, with pop up ads all over the place. I actually struggle to comprehend how they make much money from them, although they clearly are for the time being. Nevertheless, I do think with the rise of AI they could face serious headwinds - if you want to compare a particular piece of tech, it's so much easier and more pleasant to do this on Bing rather than try to navigate one of their websites.

[john09] 21/12/2023 17:36

Capital reduction complete, no idea really lol

[pireric] 21/12/2023 16:31

CFO and husband dump about a million of stock. £343k of that is option exercising and selling, but £650k is straight out sales

Trying to hide this amongst the holiday season

Eric

[indiestu] 21/12/2023 16:22

I lik gud shares the make I wealthy

[volsung] 21/12/2023 14:26

This very good share
I glad I buy it

[ggrantsu] 21/12/2023 09:55

its tough to say honestly. although i disagree with the cannacord target price...this is a business with a lot of headwinds and some very poorly performing assets amongst some stellar ones. potentially because of the tech hardware cycle being still very much in the trough, they could have a difficult next year...a lot depends on what they do portfolio optimisation wise and if further buybacks are done vs. speculative investment / acquisitions...that all comes down to the people involved who are unproven as of yet for this story...

this could be a huge multibagger or it could just be something vs. limited downside risk vs. today. v hard one to call but exciting situation

[takeiteasy] 21/12/2023 07:09

what are the personal targets for those holding here - ignoring the analysts calls for now...is it possible to get back to 2023 YTD high for the year with improved economy/lower rates/inflation and US soft landing as key assumptions?

[tsmith2] 20/12/2023 16:48

Another good day and a very good UT to boot

[hatfullofsky] 19/12/2023 13:56

That's not true is it Sajad. - Cannacord reckons that GoCo could be worth 347p. "As a result, despite the risk of further downgrades to guidance, we upgrade our recommendation to "hold" from "sell" and lower our target price to 660p (from 758p)Canaccord upgrades Future to 'hold' on GoCompare strength https://www.voxmarkets.co.uk/articles/canaccord-upgrades-future-to-hold-on-gocompare-strength-a55c0b2

[ggrantsu] 18/12/2023 22:39

this is what makes it look a bit laughable...we are being told the business has now halved in value when the situation is exactly the same. all the same pressures on the business were there at the time the initiation note was written...important to keep that in mind!!

[sajad37] 18/12/2023 22:33

Canaccord starts Future with 'sell' - price target 1,153 pence

[takeiteasy] 18/12/2023 11:56

What value does it add if someone contextualises research based on the world is ending type assumptions - frankly laughable imvho

[ggrantsu] 18/12/2023 11:45

the note admits that gogo is worth at the very least half of the company as it stands and that is on very very conservative assumptions for EBIT...(throws in a lot of central costs and assumes margin falls all the way back to when future bought it)...

i'm actually pleased it was released...it highlights how ludicrous today's valuation is.

[takeiteasy] 18/12/2023 10:39

Does anyone believe these guys anymore?

[ggrantsu] 18/12/2023 10:32

cannacord have released another downgrade in price target to 6.60...