Well at least we know what caused the drop yesterday. A dumping of 3m+ shares.
I keep rereading the TU and the BoD seem cautiously optimistic.
Casual dining is and will remain difficult but my understanding is that they will trial a new concept based on the Loungers model -more oriented to all day usage of premises with an increased emphasis on alcohol.
Option money at these levels. |
TU nowhere near as bad as I thought.Directors still confident.New concept to trial.I don't like table apps(I'm an old fart) but it should drive staff reductions snd cost savings. The newly unemployed will thank Rachel Reeve no doubt. |
Well the interims will be released in the next day or so.
Clearly they will be dire as they will relate to pre-reorganisation so that shouldn't be a surprise.
What will be key is the report on current trading is it above, below or in line with Directors expectations.
Above or in line-Positive.
Below-Negative. |
Expect TAST and KRPZ to breakout today |
Clearly I was wildly optimistic when I bought in some time ago but we are where we are and at the current market cap it is little more than option money on a better outcome.
I continue to hold my 1m shares at an averahe price of 1.83p.
I note that there has been a pump going on again and some have flipped to make a couple of quid but the big money will be in buying and holding for up to five years rather than five minutes.
Anyway back to sleep. |
The Slag now pumping tast the dog |
TAST and RTOP having a good should rise into close |
BA of BA is still BA. Creative is very applicable word. However plus side is that many lowly paid worker get to keep their jobs (imo) |
Nice creative spike in the share price being generated somewhere. |
Restructuring plan in place, expensive debt and potential dilution, 20 loss making sites.
Ouch. |
Very sour taste and prognosis probably getting sourer. |
Upgraded FY outlook for RTN.
Read the runes.
TAST is on the road to recovery. |
Less than two weeks until the interims show steady progress on the path to recovery. |
Well that flurry of activity looked like an organised pump and dump.
I don't use LSE or III. Was it on one of those boards? |
It is my understanding that the company knows no more about the reason for today's spike in price than I do i.e. nothing. So there is no point shareholders contacting the company to ask for their explanation as you likely won't get much more than 'more buyers than sellers'.
Asagi (long TAST) |
Get out speeding ticket now coming as i have forced on from them |
I hope not unless it as at 20p + |
maybe a bid coming. |
Encoraging to note the continued ,omentum in the RTN trading update.
Almost certainly this will have been replicated by TAST on its path to positive cashflows and profitability.
Strong buy at these levels. |
It's casual dining business with all the trials and tribulations that go with that.
Up until 2016 they were on a roll, probably expaned too quickly with suboptimal sites, but 2017 saw significant industry wise head winds(RTNs trading updates from that time mirrir those of TAST).
Then of course they and others then of course they were blown completely of course by covid and the impact of the Russian invasion of Ukraine.
Time will tell but I'm backing them as a recovery. |
 I'm a bit bored tonight so I took another look at the results. I still think these are headed for insolvency. The net cash figure looks impressive and gives the illusion of a margin of safety but they actually have net current liabilities. I know these sort of businesses have the advantage that they get credit from their suppliers whilst their customers pay on the spot but what if their suppliers get nervous and demand different payment terms?
The staff costs have skyrocketed presumably due to the big increase in the minimum wage, whether they can increase their prices enough to recover this extra cost without losing business remains to be seen.
I did see an article somewhere recently (can't remember where) stating that much of the casual dining sector was unprofitable and that the whole sector was facing a bit of an existential crisis.
Looking at the P&L this looks like it has always been a fairly poor business and given the particular difficulties facing them at the moment I don't see any reason to believe things are going to get any better for them this year. |
A few aella dripping through so we may see a tick down.
Foolish sellers. |
The rearate is underway.
Look foward to 20p in the next 18/24 months. |
All quiet here although recent buys have seen L2 strengthen with all MMs on the bid and only one on the offer. |
Yes that was my view at one time but for the reasons I outline above I am no longer of that view.
Thank you for your your input though and bringing the thread to the top.
Every little helps. |
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