It is a tough time even if you have patience, liquidity and no need for quick returns. Either no money available to commit to the market or fear its all heading into a true global downturn - I think that is already here but not yet sunk into the psyche of everyone, just the investment class. When US market rolls over it will be the final domino. |
It's crazy how much the price can move on such small volume. It's a very thin market across the board right now. There's good potential for a rally when some money comes back into the market. A few interest rate cuts. Who knows. I'm not having much luck with any UK mid and small caps so far this year. Difficult times. |
What do we think? It would seem there is some promise there and signs of recovery. Cash generation appears stronger. I've not worked out what the exceptionals were that dented the cash position but hopefully if they are out of the way they can begin chipping away at reducing debt in 25. The cost of debt financing is killing the bottom line. Not to mention the exchange rate. |
Good tactic that - hope they struggle to get out but suspect they will do so with relative ease - shame |
GLG & JPM both coincidentally (or not) both reduced their short positions on same day last Friday to the same percentage 0.48 so neither can be tracked with their moves to sell down, only if they add back to over 0.5.Hope they have a race to clear down to zero |
Indeed notification states that the 2 short above .5% have reduced following the excellent announcement of ahead of expectation Current trades indicate someone is buying in the market. Given the low volume & the results in 4 weeks time it will be tricky to exit without a significant rise in the price. The US & Americas news is hugely welcome and given the price reached over 50 not too long ago there looks to be a lot more upside & limited downside |
Squeaky bum time for shorters |
Shorters still there - going to be interesting how they buy back 1.5% - or maybe they cannot |
ev/ebitda of 11 times. trade levels in this sector go for 17times.... |
shorters had been reducing a fraction since start of year. bet they are accellerating that today. |
Glad to see this. Wouldn't want to be on the wrong side of it. |
On the back of the TU this morning the shares look to be well over sold.
A short term price of £22 is a very realistic target over the coming weeks |
Trading halted on the up 17%Nice |
Indeed, looking v good value at this level given RNS |
Time to burn the shorters! |
Good to see they are on board . ABS needs to treble its margins imho. A tall ask but possible. |
Company discussed from 24.20 minute mark:
In the Company of Mavericks - December 13, 2024
Long Short Equity Management with Richard Stuckey of Ennismore
Have you ever wondered how fund managers deliver a successful long-short strategy?
David Seaman of Alpha Cygni Investment Management recently joined me for a conversation with Richard Stuckey, the manager of the Ennismore Global Equity Fund, about managing such a strategy in smaller global companies.
In this fascinating chat, Richard discusses different approaches to shorting equities and how they involve different approaches to risk management at the stock and portfolio levels. He outlines a couple of examples of stocks he and his team have successfully shorted that turned out to be deceptions.
We then discuss two long positions he recently added to his portfolio. Genus, a UK–listed animal genetics company, Genus and Paradox Interactive, a Scandinavian-listed games publisher |
Ref holdings RNS on the 12th. Think the debt is catching up with GNS and making them vulnerable to a takeover. |
I think the issue is that the market thinks it's less likely the Trump administration allow the genetically modified virus resistant pigs vs the Biden administration. The broker says the core business is worth only 1800p if approval is refused. |
Mkt not too impressed with latest update with gns trending down. Any views on what will get this going. |
reassuring update. like how they are winning more royalty clients in china... |
USA is 35% revenue, largest market |
Should be a trump beneficiary- disease resistant pigs would be ok by him |
Any thoughts here on their recent results, didn't look great but hopefully bottoming? Noted the 4% drop today |
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