What percentage of the population has died or Coronavirus? Why your answer might make Cineworld a zero...
As a good citizen, yesterday, I reminded FastJet (FJET) and its loathsome, journalist smearing, motherfucker evil PR spinner bastards at Citigate Dewe Rogerson that they had promised us a trading statement by “the last week in June”. Duly nudged a statement arrived today and it is dismal. The crash landing at Tits Up Airport has been postponed but not for long.
My guess is that the long awaited meeting of FastJet (FJET) PLC with a crash landing at Tits Up Airport cannot be postponed for that much longer. It is not as if this company could ever make any money pre Covid. But while I await that moment as one that I celebrate with champagne and noxious phone calls to its journalist smearing motherfucker PRs at Citigate Dewe Rogerson, I remind the company that it had promised us a trading update by Monday at the latest. Specifically, on 8 June it stated:
FastJet (FJET) the airline set up by tobacco smugglers which, having gone legit, has a perennially failing business model and ability to burn vast amounts of cash had said that it needed more cash by the end of October to keep going. Aha, its October 31, I wish all ,my readers on the Isle of Man happy Hop-tu-naa, and so what’s the story back at FastJet? It is not good news I fear…
The journalist smearing PR bastards at Citigate Dewe Rogerson snuck out results from FastJet (FJET) just after noon hoping that the whole world would be on a lunchbreak. Not only are the numbers utterly shite but having raised $10 million in July the company now ‘fesses that it needs more cash by the end of October or it will be once again at the cul de sac at the end of tits up alley. Disgraceful.
I guess the journalist smearing bastards at Citigate Dewe Rogerson might be about to lose another retainer. Their response to my probing of the financial woes of their poxy client FastJet (FJET) was to threaten and smear me. Fuck you Citigate. Now Fastjet has ‘fessed to just how grim things are. It could be tits up time by the weekend. Crack out the ouzo, let’s celebrate. I shed no tears for a company that stands by the actions of scum like Citigate. And I warned shareholders often enough what financial fate lay in store for FastJet.
Hello fascist, journalist smearing, PR fecking geniuses at Citigate Dewe Rogerson, your favourite follower of the dog that is FastJet (FJET) is writing today from my home village in Greece. You have done a good job at polishing the turd that are the calendar 2016 results from Fastjet (FJET) but if folks read beyond your spin to the bottom of the statement they will realise this is a basket case and the shares - at 16p are a stonking sell - the target price is 0p.
“fastjet (FJET), the low-cost African airline, is pleased to announce that… it has successfully placed 143,449,794 new ordinary shares at a price of 16.3 pence per share… If the placing does not proceed and complete, and in the absence of the group being able to successfully agree or implement any alternative funding, the directors would seek to commence a process of placing the group into administration”. Wait a minute, just in August the company raised “total aggregate gross proceeds of £15.2 million… all at 50 pence per new ordinary share”. What’s gone on?
We recently detailed the shorted AIM shares (by net short position %) at the start of 2017. How did 2016's perform?...
In late July of this year AIM listed basket case African airline FastJet raised £15.2 muillion at 50p. Wind forward to two days ago and the shares were just 18.5p but then started falling sharply to 16p last night and this morning came the disastrous admission. Naturally there is no insider dealing on the world's most successful growth market. The shares are now 14.5p and will sink lower as it has all gone horribly wrong.
As AIM-listed crock airline Fastjet (FJET) hurtles at full speed towards its next funding crisis two warrant exercises catch the eye – one yesterday and the other last week. With the shares trading at around 20p, why on earth would anyone exercise warrants at 31.5p a pop?
Fastjet’s (FJET) interims for the first half of 2016, released this morning, are another set of results from the company which are about as bad as they could conceivably have been.
Fastjet has this afternoon announced the result of its general meeting and capital raising. Not surprisingly, given the support of the institutions involved, all resolutions were passed.
The remarkable placing document which has finally been released says more about Fastjet’s (FJET) hapless shareholders than it does about the company itself.
The only reason the bulls can come up with to buy into Fastjet (FJET) is that it will soon see a new CEO take the helm, Nico Bezuidenhout, whose CV looks great having done wonderful things at Mango, the low cost airline offshoot of South African Airways (SAA). Unfortunately that CV is now unravelling big time. Or at least it is in real doubt.
Fastjet (FJET) has its AGM and general meeting later this morning, at which the EasyGroup special resolution to oust the Chairman will be put to shareholders. Ahead of that, we have a trading update which confirms the bearish stance held on this website for the past several months.
Regular readers will know that I have been following with interest the rather dramatic developments at Fastjet (FJET) over the past year or so. This morning sees publication of a letter from the Board, asking shareholders to support their Chairman against easyGroup’s move to remove him from office.
One of the key demands from major shareholder Sir Stelios has been that Fastjet (FJET) hires a competent new CEO. While it has taken longer than expected, we have breaking news today via RNS that a new CEO has indeed been found. From an operational point of view, this should be a game-changer.
ShareProphets likes to bring you the news that companies don’t want you to see. In that vein we bring you yesterday’s RNS from the AIM-listed mile-high croc of **** with no CEO and which is running out of cash otherwise known as Fastjet (FJET) which was entitled Notice of AGM. To make things look really kosher it came out at 3.36pm on a Friday: no-one-is-watching o’clock. Whilst some in the square mile may already have been off lining up the Friday night coke and hookers, we were still watching. Blow me down with a feather, it wasn’t just a notice of AGM.
Oh dear, Oh dear, when even those you pay to produce buy notes, refuse to promote your shares you know that you are in trouble. Equity Development, which has been pumping Fastjet hard since 2013 has today said it cant set a target price any more. Cripes, I suppose that if FastJet can spare a few quid it could always get Gollum and Zak Mir to ramp its shares but back to those paid for rampers we can take, at least a bit, seriously.
Following on from my recent coverage of Fastjet (FJET), the airline has today announced its final results for the year to December 2015. While clarity on last year’s calamitous financial performance are to be welcomed, the most important questions remains unanswered.
Since my last article on the subject of Fastjet (FJET), major shareholder and brand owner Sir Stelios has been back on the warpath, this time looking for the removal of the Chairman. With the annual results for 2015 due shortly, and reasonable questions hanging over the company’s funding position, the next few weeks and months are likely to be decisive for Fastjet’s future.
I have been asked to give an updated view on Fastjet (FJET), following on from my tip to sell the shares last November (when they were trading circa 60p).
Our resident Fastjet (FJET) owning lunatic Duck & Dive yesterday predicted an RNS from this piece of Turkish imminently claiming that it would show what a "twit" I was with good news. Well D&D was half right there was an RNS. Sadly, for him, it is not good news. Duck remains the twit, I continue to call this one right.
By now Fastjet (FJET) must have negative net assets or near as damn it and insolvency is very much on the cards. Meanwhile the great son of the mighty Hellenic Republic Sir Stelios (don't tell fascist PR bullies Citigate but we love the Greeks here, especially Sir S), is talking of legal action to reclaim his brand. But at least today there is light relief with a shock boardroom departure.
On 22nd March Sir Stelios sent to Fastjet (FJET) the letter which appears below as he upped the ante big time. The response of the Fastjet board has been lamentable with two holding statements and no outright refutation. No wonder the shares have collapsed to 27.5p. It is going to get worse. The target price is 0p or near as damn it.
As we have noted before, everyone round at Citigate Dewe Rogerson are PR fucking genii. That is especially those working on the Fastjet (FJET) account Angharad Couch, Eleni Menikou and Nick Hayns. You have to be a PR fucking genius to issue a release for your client when you can't even spell its name correctly as the screen shot below demonstrates. Fastjet may be a company heading for insolvency but at least its crack PR operatives are all fucking geniuses and any suggestion otherwise will result in an angry phone call with threats of libel suits, lawyers letters and a suggestion that you are a racist Greek hater.
Fastjet (FJET) has today threatened legal action against Sir Stelios Haji-Ioannou after he published an open letter to the company suggesting it is heading for insolvency and revealing alarming data on load factors garned from "secret shopping" which Fastjet has bee hiding from investors. Naturally I agree completely with the analysis of Sir Stelios. His letter is below:
Ed Winters the CEO of Fastjet (FJET) had wanted to stay on the payroll for 12 months after a new captain of the low cost airline Titanic could be found. Sir Stelios of Easyjet wanted him out now - even with no CEO in place - and also demanded the head on a platter of General Counsel Krista Bates. Ed & Krista squirmed but with Sir Stelios owning 12.6% of the shares and the money running out, Ed and Krista have gone. Krista cleared her desk today, Ed clears his on Friday.
In its most recent profits warning Fastjet (FJET) used language deliberately designed to hide how close it is to trading while insolvent and how inevitable a bailout placing is. Its PR firm Citigate Dewe Rogerson then engaged in disgusting fascist bulling and smearing to distract attention from this pressing issue. But the truth will out and, indeed, here it is.
I have exchanged a series of emails with Fastjet (FJET) to establish what the company is hiding in its most recent profits warning and whilst it offers excuses it will not come clean. I bet you a bottle of ouzo I know why. And it ain't good news if you are long and wrong.
You know that things are tough when even those firms that are paid money to ramp hapless shares on the AIM Casino cannot bring themselves to do so with any conviction. And thus I bring you the latest note from Equity Development that is the piece of crap heading for 0p, FastJet (FJET). It is what ED does not say rather than what it does say that is so horrific.
No wonder Sir Stelios wants wholesale boardroom change at FastJet (JFET) a disastrous trading statement today makes it clear that the current board has not got a scooby and that bankruptcy is very much on the cards.
Oh dear. Baby Bear called this one to 0p at Gold & Bears HERE since when shares in Fastjet (FJET) have soared but now the chickens are coming home to roost with Sir Stelios Haji-Ioannou warning that the company has misled investors and is facing a cash crunch.
If you want me to analyse a stock for you just drop me a line at firstname.lastname@example.org - Today I look at shares in Amerisur (AMER), Fastjet (FJET) and Kibo Mining (KIBO) setting share price targets for all three stocks.
Having slipped badly following its profits warning and the start ( yes start) of a process of scrutiny by the Sheriff and his posse, the share price of FastJet (FJET) is up by 20% to 52.75p today thanks to news that it is launching flights from Tanzania to Kenya. Fear not this remains a sell with a 0p target.
On Wednesday, following (roughly) a steep share price drop of 10% in the first two hours of trading, Fastjet (FJET) issued a know-of-no-reason RNS. Or that was what it looked like – the actual statement read “The Company knows of no material trading reason for the movement.” It went on to reassure that trading was in line with expectations. With the RNS released at about midday, it looked to have the desired effect as the shares recovered and even closed up on the day.
From the FCA's spreadsheet of short positions required to be disclosed to it, the following details the shorted AIM shares (by net short position %) and if this position has increased (red), reduced (green) or remained unchanged (black) since a previous analysis HERE…
As far as shares of FastJet (FJET) have been concerned in the recent past there have been no prizes for being brave or jumping the gun on potential recovery. It can be seen on the daily chart that the recent history of the situation is merely be that of the law of diminishing returns applying to those traders attempting to seek out a lasting floor.
In the last hour FastJet (FJET) has announced that Lonrho has sold its entire holding at 2.85p and that is your cue for a trading buy at 3.13p.
Last week I addressed the chart of FastJet (FJET) which presented clear concise signs that the stock was exhausted with the Rsi below 20. When I sent my piece the shares were 4p. When it appeared they were already 5.25p. As I write the stock is now trading at 8.2p.
FastJet (FJET) shares bounced following passenger numbers released on Wednesday. But on a one year view, even at 5.25p today, punters might feel bemused and saddened.
Although it has certainly been a rocky ride both on the technical and the fundamental front, it would appear that today’s news may mark something of a watershed in terms of the recent history of the Africa focused budget carrier.
Are you may imagine, being a Chartist I have no other means of determining the merits of a company other than the squiggles on the screen in front of me. In the case of Fastjet it had been apparent that a recovery was on the cards, it was simply a question of timing as to when the shares would break the parameters of a bullish falling wedge formation which has been on the daily chart since the beginning of the year.
While there has been an incredible amount of speculation regarding Fastjet shares over recent months, it would appear that only now are the shares ready to deliver an opportunity for the bulls that will not clip their wings.
Search ShareProphets |
Recent Comments |