DYI might be a form of self-harm! I prefer DIY myself.
Well it does look like 50p has been broken. Tentative optimism here. But not enough to tempt out Cudmore to his daily posting that they are worth £2 soon. |
"However the great days of DYI that came with Covid are now gone.."
From the FY to October 31 2022 results:-
Current Trading and Outlook
• Robust trading in the first eight weeks of the new financial year, with like-for-like sales in Topps Tiles up 3.4% year on year and other parts of the Group performing in line with our expectations |
Link to daily Mail article - Worth a read.
MSG are (imo) trying to get a captive UK distribution outlet without paying for it. If they are interested they need to bid/buy the whole of the company.
However the great days of DYI that came with Covid are now gone - unless of course you are in the cold protection business.
A potential Bear Trap - imo |
Hard to imagine that the rest of the institutional shareholders will back this attempt to buy their way into the boardroom. PIs are such a minority we make no difference but add to the cost to the company of this vote. There is presumably a backstory here behind boardroom doors. |
Market seems to take a negative view suggesting that they don't see a bid. I have to say I am surprised by the Poles apparent goal of vertical integration |
Tough call but on balance will hold because either the board will remain and the company will continue to grow and wherefore a good long term hold or MSG will bid in which case the share goes up anyway. Good yield too |
Certainly looks like the BoD is going to resist this fiercely, and will probably be supported by insitutional shareholders. This has effecttively gone hostile, so Galleon has 3 options if they dont get the requisition numbers they need
(1) Make full bid (2) Sell down their stake. (3) Hold onto stake Share price seems to be suggesting 2 or 3 hence the share price drop because that would be a big overhang on teh share price. If it were going to be bid for, the share price would be reflecting that methinsk...time will tell |
Just what we need, a boardroom spat to slow the rise. Bid incoming if they don't get there way? |
Good call on the 50p resistance. Looks like you were correct. |
I so hope youre right |
c600,000 shares traded & up 8.5% with the bid being held (just about) at 49.7p. With so much stock locked up in safe hands, there is a limited actual free float which partly explains the upwards move (technically), which is in turn supported by bid speculation and underpinned by a terrific operational performance. If Galleon is intent on buying this and vertically integrating with existing factories now is the time to do it; if not and he is just protecting his upstream operations, then he gets a whacking dividend plus capital
appreciation as the market starts to wake up to the quality of this business. I see this at 75p during Jan |
Do you think it has a clear run upward? |
As far as I recall there were no buys over 50 on Thursday or Friday even though the buy price briefly touched 50. But there is a decent amount of buying today over 50. Not sure I agree with you that there's significant resistance here. We'll see. |
Don't think you understand what resistance is. This is a perfect example of buyers buying at a level but it repeatedly falls back below that level just as this has for the last 3 trading days at 50p |
Hardly. Plenty of buys gone through over 50 already. Dune a move up soon. |
Still struggling with 50p as I suspected |
I agree: figs show just how well this company has been doing. Used covid to restructure; strong operational management; strong balance sheet; heavyweight shareholder; strenghtening market position, well balanced business model & the possibility of corporate move by Galleon at some point (tho not sure why he has left it this long tbh). Incredibly cheap imho and a great divi. This has a lot further to run, and with a lot of share locked up in secure hands there isnt much stock available. Should drive through 50p |
50 to buy already. Told you they were struggling to contain it! |
Big resistance before 50p. This buying is probably for the dividend |
46.62 to sell now. They're trying to shake the price about to rattle out some sellers I think. 50+ soon. |
46.42 to sell now. Someone just got mugged at 43.9. I think they're struggling to keep a lid on this. I've now got a decent position here. |
Can’t believe ms galleon has taken topps out with 29.9% holding at this low price |
Markets a bit of a lottery now great results get punished normally,unless a small aim share.I’ve held so many stocks through the years 90% go down when release good results. So yes don’t hold on results day 🤔 |
Tell me your next lemon wad before I invest 🍋🍋🍋KEEP the faith |
Must confess I was thinking this was heading down the plughole; glad to be wrong . Only another 150p to go and then I will be back in the blue...
Can't believe I have been holding these for 15 yrs. I specialise in picking lemons. |
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