Lookers Share Discussion Threads

[debsdowner] 08/6/2020 15:19

wobbly,

jaber is right on directors not being able to buy in a closed period, nor be able to buy as per inside information on the fraud.

[debsdowner] 08/6/2020 15:16

wobbly,

"Can't occur until quantified."

Rubbish.

A fraud may be identified but the extent of the fraud not qualified in its entirety.

As an example company A has been overvaluing stock but its yet to be worked out how much stock has been overvalued.

But the company could have given more information to the market in order for shareholders to consider what to do with their investments.

In relation to other comments on directors position on buying stock, they would be precluded from buying stock due to insider information on the fraud.

If the fraud wasn't as material as the market thought they could take advantage of that position.

[wobbly123] 08/6/2020 15:14

I don't respond to Jabers1 as he isn't worth the effort.

When I say Directors haven't been buying, it doesn't means since a share price has dropped.

If some people found a £5 note they would say it wasn't the cleanest £5 note I have ever seen.

Good thing for short sellers is having people buying that think they know more than everyone else, long may then continue "investing".

[jabers1] 08/6/2020 15:04

Wobbly1238 Jun '20 - 10:44 - 2082 of 2089

Nick Rubens,
You can't see it going under !

1) Directors haven;t been buying


Shows you the intelligence level of this character!!

DIRECTORS CANNOT BUY DURING A CLOSE OUT PERIOD 🤡🤡🤡

[jabers1] 08/6/2020 15:04

Wobbly1238 Jun '20 - 10:44 - 2082 of 2089

Nick Rubens,
You can't see it going under !

1) Directors haven;t been buying


Shows you the intelligence level of this character!!

DIRECTORS CANNOT BUY DURING A CLOSE OUT PERIOD 🤡🤡🤡

[mortimer7] 08/6/2020 15:01

Meanwhile at HQ.....
Miss Funnyfanny, please take a couple of letters

Dear Mr Pendragon,
We understand you may have sent us a letter recently regarding a potential merger.
Unfortunately this was eaten by one of the guard dogs at our Head Office.
Please would you be able to email a copy. Please. ASAP, please.
All the best


or

Dear Mr AllBram
We were delighted to note the recent increase of your shareholding to circa 20%, and were just wondering if you maybe were considering buying any more shares.
It's just that we thought if you could buy all of the shares, we could get rid of this Stock market regulation malarky and things would be a lot simpler.
All the best

[wobbly123] 08/6/2020 14:42

debsowner,

"The fraud cannot be that bad otherwise it would have affected the net debt/cash position imo."

Can't occur until quantified.

[debsdowner] 08/6/2020 14:16

I don't hold here but all they are saying is they cannot declare their results and that is probably due to the extent of the fraud but that in itself doesn't mean the company is going under.

They have to comply with FCA dates and if they don't do so they have to delist it causes uncertainty.

The company has good assets and those investors prepared to take some risk and be patient they could be rewarded.

The fraud cannot be that bad otherwise it would have affected the net debt/cash position imo.

But what actually is the fraud?

If they had undisclosed borrowings that would be a concern or have they overstated stock?

I am slightly surprised that if they are investigating fraud they haven't given more information as to what the fraud was about.

When TESCO said it was investigating fraud they gave more information to the market I haven't seen any information so far has anyone else?

[wobbly123] 08/6/2020 14:05

pdoc, agreed far better places to invest, namely business's that will recover better than others and those making money despite the virus.

[diku] 08/6/2020 14:05

Why would Auditors resign...did they miss something...damage limitation...

[pdoc] 08/6/2020 13:07

Yes Wobbly. That's the sort ot list I had in my head a good few months ago. There is still a market for cars of course (though smaller) and Lookers are a player. The problems is that perfect storm of which much was self-made. I am nicely under on this but it makes sense to move most of what is left - there are some real undervaluations around imv - to claw a bit back from this disaster. Must admit though, the gambler in me has kept a few of these on the off chance. Then again, I did that with Carillion too ha ha.

[nick rubens] 08/6/2020 11:21

Well, at the moment I don't own any, so kind of 'short' myself in a technical way, but I do see it surviving longer term as NAV is high, so sale and lease etc, though not ideal.

But I may be wrong as listed companies to have a habit of losing 100% for shareholders.

[wobbly123] 08/6/2020 10:44

Nick Rubens,
You can't see it going under !

1) Directors haven;t been buying
2) FCA investigation
3) PCP compensation
4) Accounts delayed again.
5) Talks with banks.
6) Auditor resigned.
7) No idea how big the fraud was.
8) Market for vehicles in a mess.
9) Possible 2nd wave.

You are brave if going to buy "a load of stock". Good luck

[nick rubens] 08/6/2020 10:36

Well, this is has caused some great uncertainty, to say the least. I can't see it going under or anything, but what do I know?

However I'll take a load of stock, but at much lower prices if I can get it. Sometimes a suspension helps one to be more patient and not be swayed by the whims of the market day to day.

[wobbly123] 08/6/2020 10:20

mr.elbee

If Lookers fail will administrators or liquidators have a lot of stock to sell at whatever price ?

[shaf200] 08/6/2020 10:20

Boys is this going bust... lol.. looks like I've lost my 1K punt... oh well.. you cant win them all... at least I can drown my sorrows watching Premier and tullow sprint

[mr.elbee] 08/6/2020 10:05

buy a new car dont wear a face mask!!

[wobbly123] 08/6/2020 10:01

wilsman1

They are still dropping.

Remember a loss id a loss regardless of holding a stock and not selling it.

[jaf111] 08/6/2020 09:58

mmmm....very surprised price has held up today.....this could certainly drop back to 20p if not lower!!!

[wilsman1] 08/6/2020 09:56

Probably a really good opportunity to buy now as I doubt they will drop further.

[wobbly123] 08/6/2020 09:48

Nick Rubens,

Will they come back?
Could go into administration or liquidation and get picked up cheap. Shares would be 0p

[nick rubens] 08/6/2020 09:45

Why would an auditor want to give up a client?

I don't get it and it doesn't make much sense to me, so I've sold the few I had for now. Might as well wait until they get suspended and then come back again after the results are finally published including a going concern statement and any update estimate on the impact of the fraud in this accounting year so far.

[wobbly123] 08/6/2020 09:36

danieldruff2 You did well, price dropping. Still keeping my original shorts until 10p but new shorts will hold to 6p

[danieldruff2] 08/6/2020 09:35

I sold out last week on precisely this fear, the previous update made it clear they needed to overcome two hurdles in three weeks to publish year end results and avoid a suspension. Didn't take them very long to fall at the first!

[diku] 08/6/2020 09:33

When the going was good the eye is taken off the ball...what were the insiders doing?...driving luxury company cars...