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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mood Media | MM. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
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|---|---|---|---|---|
| 0.00 | 0.00% | 25.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 25.50 | 25.50 |
| Top Posts |
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Posted at 22/3/2012 10:39 by saucepan Big Fella: XPS - yes, I did. Prepared to admit my mistakes. I sold because I was disappointed in their investor relations - receiving no reply to an email I sent. However, there is no point in sulking when the chart is so compelling. I bought back into XPS today before the rise. |
Posted at 30/8/2011 19:02 by michaelmouse Cheers Willie. "You would have hated ASOS then?". No. I did consider buying ASOS at 15p, but for whatever reasons I didn't invest. Perhaps the 'value' investor in me made me hesitate. I do like CUP, and I can see the rationale for an investment, however the 'value' investor in me urges caution, although with no debt and £8.4m cash, in the unlikely event that the forward p/e were to fall then I would re-consider. CUP will feature on my monitor. Thanks for taking the time to read my blog. Best of luck as always. Mouse. |
Posted at 30/8/2011 18:41 by williemanjaro Thanks Mouse-I dont know where CUP`s heading but there is a huge market there. As long as management can manage the overseas expansion and growth, CUP`s performance could gain terrific momentum. I note "India" was not singled out in todays results release, yet I understand they have strong growth there. One thing is clear-the market is there and its growing....we all want LOVE! Now I`m more of a momentum investor so CUP fits the bill.... and you are value :^) You would have hated ASOS then? I was fortunate that despite an avalanche of early day bulletin negatives regarding ASOS...darn it, I understood ASOS. And as technology changed and streaming images could show catwalk shows and broadband became more main stream, it was obvious that the hopeless High Street was about too receive a damn good kicking! Keep your eyes on CUP-the rides just starting out. |
Posted at 28/9/2008 15:35 by wdurham hi, malkie - Don't think you quite understood what I wrote - "SETS - an order-book driven system, whereby investors who have DMA can enter orders directly on the LSE order book. Market makers are also obliged to maintain 2-way firm quotes on the said order book so that investors can buy and sell even if there are no orders - other than the MM firm quotes - on the book. DMA - a service offered by brokers to their clients enabling them to enter orders direct on the order book, without obliging them to go through market makers and pay yellow strip price." I wasn't talking about the broker's order book but THE order book! I don't have DMA because my preferred broker doesn't offer it, so don't know the minutiae - but as far as I can see, if you DO use a broker that offers DMA, your orders go straight on the book via your broker's connection to the exchange. As a private investor, you can never have that direct connection yourself, in your own right, only through an intermediary. As far as I am aware - and I just checked - TSX and ASX operate in much the same way. Joe Public can't simply log into the exchange and put orders on the book. It has to be done via a broker or other intermediary, if only so that the order details can be filtered to ensure they meet exchange rules and regs. Without those checks and filters, any order of any size at any price could be put onto the book, causing chaos and a breakdown of orderly trading in a matter of seconds....! There's an interesting article here about how to get the best prices/spreads out of SEAQ, which is now a bit old but still useful. It also discusses DMA in brief: The real root of all of the problems is the growth of non-advisory, execution-only electronic trading over the last few years, so that ringing your broker is now not even considered as a means of placing a trade! There are folk investing/trading now who have never done anything other than electronic trading from their PCs, and that have never even spoken to their broker, and perhaps don't even know that they can... But how many times do you see "I can't buy!" when all the poster really means is that the electronic system won't deal with him and demands a limit order for later execution, or electronic trading has been suspended. The answer is ALWAYS, if you are serious about the trade, to pick up the phone.....you will not only get filled (as long as your order is not outrageous in terms of size) but you might even get a better price! Many electronic brokers just take the yellow strip - though some "price improvers" will do what they can to get inside the spread for you. My broker proudly tells me on-screen, when I complete an electronic order, if it has done me a better deal than the yellow strip - which is nearly always! I totally agree that SEAQ is a real pain. About half the stocks I own are still SEAQ based, and yes, I deplore the spreads. But (a) I understand why they are so large in low-liquidity stocks; (b) I deliberately avoid trading such stocks on a regular basis, sticking to fairly long term deals; and (c) if the spread is truly horrendous, I don't deal at all, no matter how tempted I might be. After all, a stock with a massive spread is viewed by the MMs as risky to their financial health/wealth - should we not take note of that and wonder if we WANT to be exposed to so much risk? I can't see any way of bullying the MMs into surrendering their big spreads on high risk, low-liquidity stocks - it is, after all, their safeguard against being caught in a large loss-making position. They are obliged to trade at NMS or below at no worse than yellow-strip prices - they have no choice under LSE rules. The spread helps them moderate losses. In the old days it used to be called the "jobber's turn" - I remember learning about it in A Level Economics! The only alternative is what you have suggested - doing what the MM system was designed to avoid - and contacting other shareholders direct. If your dealing requirement is large, then this can be by far the most effective route. A friend of mine was recently able to place a very large holding in a TSX listed company at favourable prices simply by calling the company and asking them to find him a buyer.... Or you could set up a website along the lines of Genes Reunited, where in a secure and anonymous environment, those with a sell requirement could make contact with those who had a buy requirement. But how would you secure any subsequent transactions and ensure that nobody defaulted? Answer: you couldn't! Again, the SEAQ system was developed to circumvent all these problems... Our best hope is for SETS to be extended all the way down the AIM rankings, and whether we have DMA or not, we will benefit, because yellow strip spreads tend to shrink in an order book environment. We benefit from that even if we still have to buy via the broker/MM chain. |
Posted at 24/9/2008 08:36 by wdurham malkie - As requested, putting a comment or two here. As you know, some of the larger cap stocks on AIM are traded on the SETS system, so for those stocks, investors are not at the mercy of the market makers. The price can be influenced by the MMs buy and sell quotes, but cannot be controlled by them all the while there are non-MM orders on the book. But the rest of AIM is stuck with SEAQ - whereby prices and spreads are dictated by market makers. SEAQ has many disadvantages. But it does have a few advantages: 1. If an investor wants to buy or sell, he does not have to wait until someone comes along who will match with him, but can buy or sell straight away. The market makers are bound to deal in any size at or under NMS at the yellow strip price. In periods when prices are moving rapidly, they may restrict or suspend electronic trading in a certain stock, which means investors can't buy or sell via the automated online system, but have to communicate directly with their broker in order to deal. But the MMs are obliged by the rules to deal at or under NMS - they can't just say "Sorry, we haven't got any..." or "No we don't want them..." 2. Extended settlement is often available, depending on the broker, although there may be a small premium. This is impossible via an order book system. 3. Dealing charges to your broker are relatively low. HOWEVER, the big point here is that, even if all stocks were traded via the order book, very few private investors have brokers who will give them direect market access. Those that do have dealing charges which are considerably higher than PIs are used to, because DMA costs money - every deal executed on the order book carries a charge to the broker. The LSE website lists only two brokers who offer DMA for cash deals. The other three only offer derivatives. There may be other brokers who offer DMA - but I did not find any during some (fairly superficial) initial research on the SETS market earlier this year. So most private investors are still stuck without access to the order book, and have to buy and sell off-book via the broker/MM route as per SEAQ. The yellow strip price still applies, though, so those trading SETS stocks are likely to get better pricing/spreads. You may be approaching the problem from the wrong end, malkie. The system you advocate already exists, and many liquid or semi liquid AIM stocks are already on the platform. Bit by bit the LSE are extending the range of SETS further down the AIM rankings. The problem here is direct market access. As I see it, a campaign of this kind should have two objectives: 1. Extend SETS throughout AIM as soon as practicable - which means lobbying the LSE 2. Make DMA available for all - which means ganging up on the brokers (2) is actually the most important, because without it, (1) is only partially worthwhile. |
Posted at 13/9/2008 12:32 by malkie A Market Maker learns Private Investors will have a choice in future! This thread is intended to start a debate about the state of the AIM Market Maker system and its effect on AIM Small Cap stocks.Set it as your favourite and keep checking back for updates. The poll which started 5th September had 184 responses by the end of our 1st day. As of 10th September it is now up to 825 thanks to a nice mention in moneyweek.com by our friend and PI champion Dominic Frisby! We want to get numbers up to at least 5000 and send a petition to the LSE and the media..... Please support us, just post a quick comment (even if its just to say hi!) and it will help keep the thread up in the ratings - and you will be part of it!! The www.killthespread.co We really need the support to keep going - especially in the early days!! So if you can just post a quick word or two on the thread - and please tell everyone you know!!! If you have a view on this issue, then make yourself heard!! any questions to: info@killthespread.c .................... this by Dominic Frisby in Moneyweek 10th September 2008 Aim a chance to have your say Just before I go, some months back I had a go at Aim and its market-maker system. (See: What's wrong with AIM? ). It's another case of a poor incentive structure, I'm afraid. Well, it seems I've started some kind of revolution and some noble private investors have taken it upon themselves to hold an enormous poll about Aim and go to the London Stock Exchange (LSE) with the results. Their incentive is both financial as a better market will mean their investments will fare better and moral, in that if they succeed they should be hailed as heroes by all investors! Vote and have your say - I strongly urge you to do so. You never know. The LSE might actually listen. After Monday's debacle, it's about time they did something right. .................. this article by Dominic Frisby from Moneyweek sums up the problem .. Stock exchange operators want companies to list and there's nothing wrong with that. The problem is with happens next. Once a company has 'floated', the exchange, the brokers, the advisers and so on have all made their money. While they might like to see companies thrive, financially it doesn't matter to them whether the company sinks or swims. As Charles Breese, founder of Armshare.com, says, the LSE is too intent on simply recruiting new Aim entrants and is not doing enough to stimulate the secondary market, where existing holders are able to sell out and new investors can get involved. On the exchanges in Canada, if you want to sell a stock, you offer it at a set price. That offer is placed on the exchange and if somebody wants to buy, they can at that level. In short, this is a direct, transparent market. AIM has seen fit to use a different method, the market maker system, with such transparency. I reckon that as a result of this system and the market makers operating it - liquidity on the exchange has all but dried up. .................... September 08, 2008 A Toothless Market That Offers No Liquidity And Locks Its Directors Out - Just What Exactly Is The Point Of An Aim Listing? .................... September 06 2008 Liquidity-hit London Aim companies looking at SA dual listings JSE .................... October 09 2008 We got a great mention in the Fleet Street Letter How you can vote against sky-high dealing spreads Now I have come across an initiative to tackle this problem and you can find it on www.killthespread.co This already happens in Canada and Australia, where shareholders can indicate their desired trades and then transact business directly with one another. At the very least this reduces the cost of the market-makers' dealing spread. It can also ensure that share prices are determined by knowing buyers and sellers rather than arbitrary mark-ups and mark-downs by the market- makers. Such a system would help both investors and AIM-listed companies. And it might do something to stem the exodus from AIM something that is far more pertinent today than any of the LSE's ambitions to expand the market yet further. I have signed up to the www.killthespread.co Tom Bulford for The Penny Sleuth .................... Here is a link to a survey we have running on the subject. Please take 2 minutes to complete it and also add some comments if you can. oh - and please spread the word & help get this thread going!! cheers malkie |
Posted at 08/9/2008 21:01 by malkie i think there is a lot of delusion around regarding the status of AIM.this is an example of what the head up their *rse brigade are putting out in the public domain... The Aim Market AIM is the international market for growing companies trading on the London Stock Exchange. Businesses you will find range from new venture capital-backed companies to well-established, mature organisations looking to expand into a wider market. Created in 1995 by the London Stock Exchange principally to offer a diverse range of smaller companies the opportunity to sensibly raise capital in a regulated market, hence AIM has developed into a highly flexible public market easily accessible to both investor and company. Subsequently over £30bn has now been raised through AIM via IPOs and capital raising and many companies listed on AIM have made the transition to the Main Market. Who is on the market? AIM companies come from 37 sectors, 90 sub-sectors and 26 countries. It has over 250 companies from outside the United Kingdom, with many more joining every year, which speaks volumes for the viability of the AIM market as a place for younger international companies wishing to fund expansion and raise their global profile. Genuine investor interest AIM, and the companies on it, benefit from a high public profile and strong interest among a growing and increasingly sophisticated investor base. Investors ranging from private individuals to global institutions regard AIM as an excellent place to find investment opportunities in young, fresh, entrepreneurial and growth-orientated businesses from all over the world - in short, the 'companies of the future'. Regulation AIM is an Exchange Regulated Market and enjoys a reputation for effective regulation: it offers a secure yet flexible trading environment for both companies and investors. Trading & Investing Investors who buy shares in companies quoted on AIM are participating in the world's leading stock market for smaller growing companies. AIM companies come from 26 countries and range across 37 market sectors and 90 sub-sectors, providing all types of investors with a vast range of choice in seeking out businesses to fit theirinvestment profile. State of the art technology AIM is wholly-owned and run by the London Stock Exchange whoses trading platforms are the most sophisticated in the world. Indices AIM has three investment indices - the FTSE AIM UK50, FTSE AIM100 and the FTSE AIM All-Share Supersector Indices. Taxation AIM enjoys a more favourable tax status than other markets which in turn encourages investment by private individuals. More details can be found on our investors Tax page. Security and safety Every AIM company is supported, advised and monitored by its own Nominated Adviser (Nomad). Firms that wish to act as Nomads must undergo stringent checks before they can be authorised to become a London Stock Exchange-approved Nomad for AIM. These checks ensure the suitability both of Nomads and of the companies they assist to operate as part of AIM, bringing investors increased certainty and security. AIM gives private and institutional investors alike the reassurance of a secure market that enables them both to support the companies on the market and those investing in them. hows that for bare faced nerve!!! |
Posted at 06/9/2008 14:04 by andy mots,well i read a press article about onlien poker, and they described many of the players as 'plankton', so maybe they are being offensive too? They were in fact referring to the inexperienced players being fleeced by the pros, exactly what is occurring on AIM IMO. You know as well as I do that I was simply illustrating a point! "so much so that so-called 'experienced investors' have little or no advantage over said 'newbies'." I totally disagree, clearly experienced investors know what to look out for, and that is where the clever money leaves as others are loading up. "We are regularly fed spurious company information and often subject to share price movements that we cannot understand" Totally agree with this point, one of the warning signs for me to exit a stock is when I don't understand an RNS, and neither do others, or it is open to interpretation. That has served me well over the years! "I'd say that the most successful experienced investors stay pretty well clear of aim stocks - the rest of us 'experienced' investors are just gamblers." I totally agree with this comment too, most of my money is in the Canadian market, and I have the (current) benefit of the significant currency gain as well! I now only hold two stocks on AIM, and have no intention to add to them, and once exited, doubt I will buy an AIM stock again under the current status quo. |
Posted at 06/9/2008 13:56 by tippingpoint Ok - I think the point of the thread is that we should all be on a level playing field. The MMs are imho preventing that from happening by their antics. You should, through experience, be able to judge the status of a company's progress and its likely future effect on price, subject to global economic conditions. The MMs should follow supply and demand so that poor company performance drops the price and good performance increases the price.Regrettably many stocks are more likely to see rapid price movements if Tarquin the city trader wants to fund his annual trip skiing or watching the GGs at Ascot. We have all been mugs, but if we can galvanise here its a start. We have some interesting ideas to break the back of the MMs stranglehold on the UK AIM market, but can only push these forward if we identify that the majority of investors are equally concerned (hence the survey). This is a real foundation for us to say (with some evidence) that investors are extremely dissatisfied and its time for change and new initiatives. Henceforth, perhaps, Big Bang will not mean investors being rodgered by the markets. Please all complete the survey. With the ideas we have it could save you thousands of pounds in the next few years. |
Posted at 06/9/2008 13:33 by mots Andy,quite honestly I think it is offensive to describe 'inexperienced newbies' as plankton.And you miss the point of this thread with that view - we are all subject to the vagaries of the aim market,so much so that so-called 'experienced investors' have little or no advantage over said 'newbies'.We are regularly fed spurious company information and often subject to share price movements that we cannot understand I'd say that the most successful experienced investors stay pretty well clear of aim stocks - the rest of us 'experienced' investors are just gamblers. |
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