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g4ry13 said:
It doesn't really make sense that he would announce he's made a mistake. He knows it would lower the price and if he believed it was a mistake he would first get out of it before announcing it as it would inevitably end up losing him even more money.
Unless his strategy is to bluff, lower the price and buy more. He's a value investor after all and nothing new has emerged from the time he invested when they were being investigated and the day he announced his mistake. So possibly he could be buying even more as price falls as long term nothing changed in that period.
I think you're right. How long before he piles in an buys loads more....... Unless his strategy is to bluff, lower the price and buy more. He's a value investor after all and nothing new has emerged from the time he invested when they were being investigated and the day he announced his mistake. So possibly he could be buying even more as price falls as long term nothing changed in that period.
trashbat said:
Anyone still holding QPP?
Supposedly this is the hierarchy of companies owned or partly owned by Quindell.
Edit: and another nice day for WRN. 108 right now.
I don't think they will recover to where they were. Got out at 390p (it was 26p) old money just after the Gotham report came out and lost a sSupposedly this is the hierarchy of companies owned or partly owned by Quindell.
Edit: and another nice day for WRN. 108 right now.
Edited by trashbat on Monday 6th October 09:24
t ton doing so. It's so far down from even then and at one point it was at 660p....Edited by vescaegg on Monday 6th October 09:48
trashbat said:
Anyone still holding QPP?
Supposedly this is the hierarchy of companies owned or partly owned by Quindell.
Wow. It should be pretty obvious to any investor that no company should have that many limited companies under one umbrella. Even companies many many times the size of QPP have nowhere near that many subsidiaries. Supposedly this is the hierarchy of companies owned or partly owned by Quindell.
traxx said:
twinturboz said:
Blue Horseshoe loves Anacott Steel ?
GTAT files for bankruptcy.
I guess GTAT didn't get the AppleWatch contract then?GTAT files for bankruptcy.
Edited by twinturboz on Monday 6th October 15:12
vescaegg said:
Blimey. I thought they had secured a massive order from Apple. Thankfully other than for a short while earlier in the year, I wasnt in!
I had a long position in this, thankfully relatively small but just reaffirms that you don't invest in mumbo jumbo, Johnny-come-lately stocks that are riding high on just momentum. Had a market cap of $1.5 billion and it filed for bankruptcy out of nowhere. The company could of issued a secondary or tried to raise cash but looks like they've taken the option of filing for bankruptcy, with a view of trying to reorganise and finding funding sources, pretty sure that leaves existing shareholders with most likely nothing.
Wonder if Apple just buys part of the company cheap.
Edited by twinturboz on Monday 6th October 17:09
twinturboz said:
vescaegg said:
Blimey. I thought they had secured a massive order from Apple. Thankfully other than for a short while earlier in the year, I wasnt in!
I had a long position in this, thankfully relatively small but just reaffirms that you don't invest in mumbo jumbo, Johnny-come-lately stocks that are riding high on just momentum. Had a market cap of $1.5 billion and it filed for bankruptcy out of nowhere. The company could of issued a secondary or tried to raise cash but looks like they've taken the option of filing for bankruptcy, with a view of trying to reorganise and finding funding sources, pretty sure that leaves existing shareholders with most likely nothing.
Wonder if Apple just buys part of the company cheap.
Edited by twinturboz on Monday 6th October 17:09
Anyway makes you wonder how a firm that had $85m cash 7 days ago can file for bankruptcy - I presume it can only be on the back of Apple cancelling a future order, which means that they would expect to be insolvent in a few months?
Going back to Tesco and this:
trashbat said:
My question would be not how low it'll go, but what the chart will look like at the turning point. I suspect that with something like Tesco, money is quicker to get out than to jump back in, thus it won't make a particularly quick or sharp resurgence in comparison to the time it took to fall. If that's right, then it shouldn't be too hard to wait and pick the approximate bottom using a month-level chart.
I could be talking out of my arse, of course. I could also be surprised by a positive RNS that made it immediately jump up, but I think the chances of that are slim unless the next trading update defies expectations.
I think the stabilisation point has happened now, and only more tangible bad news will see it drop again. However I'm not exactly keen to buy-in either, the reason being that it doesn't seem to offer a very good risk/reward ratio in the coming months. It could go back to £2, whoop-dee-doo.I could be talking out of my arse, of course. I could also be surprised by a positive RNS that made it immediately jump up, but I think the chances of that are slim unless the next trading update defies expectations.
traxx said:
twinturboz said:
vescaegg said:
Blimey. I thought they had secured a massive order from Apple. Thankfully other than for a short while earlier in the year, I wasnt in!
I had a long position in this, thankfully relatively small but just reaffirms that you don't invest in mumbo jumbo, Johnny-come-lately stocks that are riding high on just momentum. Had a market cap of $1.5 billion and it filed for bankruptcy out of nowhere. The company could of issued a secondary or tried to raise cash but looks like they've taken the option of filing for bankruptcy, with a view of trying to reorganise and finding funding sources, pretty sure that leaves existing shareholders with most likely nothing.
Wonder if Apple just buys part of the company cheap.
Edited by twinturboz on Monday 6th October 17:09
Anyway makes you wonder how a firm that had $85m cash 7 days ago can file for bankruptcy - I presume it can only be on the back of Apple cancelling a future order, which means that they would expect to be insolvent in a few months?
Esseesse said:
traxx said:
twinturboz said:
vescaegg said:
Blimey. I thought they had secured a massive order from Apple. Thankfully other than for a short while earlier in the year, I wasnt in!
I had a long position in this, thankfully relatively small but just reaffirms that you don't invest in mumbo jumbo, Johnny-come-lately stocks that are riding high on just momentum. Had a market cap of $1.5 billion and it filed for bankruptcy out of nowhere. The company could of issued a secondary or tried to raise cash but looks like they've taken the option of filing for bankruptcy, with a view of trying to reorganise and finding funding sources, pretty sure that leaves existing shareholders with most likely nothing.
Wonder if Apple just buys part of the company cheap.
Edited by twinturboz on Monday 6th October 17:09
Anyway makes you wonder how a firm that had $85m cash 7 days ago can file for bankruptcy - I presume it can only be on the back of Apple cancelling a future order, which means that they would expect to be insolvent in a few months?
You would think that bankruptcy was reasonably simple, and when it has to be taken GTAT (or anyone) ceases to exist in the same way. But do shareholders still hold their shares (although now much reduced in value)? I would have thought the shares disappear, because the company (legal entity) that you hold shares of technically does not exist?
Someone posted this on another forum: "They are doing this as protection, so they can execute their business plan on better foundation - not because they are going it of business."
So if this is the case, and the business is still the same (although maybe they failed to meet production for Apple this year?) then surely the same company that is still operating, minus the debt is worth more? If they're pushed back a year and end up supplying the screens for the iPhone 6S couldn't they be worth rather a lot?
johnfm said:
It hasn't filed for 'bankruptcy' - it has files for Chapter 11 protection. This is a US version of 'administration' where a company is protected from its creditors in order to try to trade out of trouble of find a trade buyer of the business as a going concern.
Thank you, this is where my confusion arises. On Macrumors their headline is 'Apple's Sapphire Partner GT Advanced Technologies Files for Bankruptcy'.So is the risk now (and hence the share price) that if they cannot get out of trouble they will go bankrupt?
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