Tom Winnifrith Bearcast: is my old chum Paul Atherley suffering from Islingtonitis, Guardian reading derangement syndrome?
Superdry – shares up on Q1 “better than our initial expectations”… but what does that mean financially?...
The AA & oh-so-clever hedge fund-style shareholders v. oh-so-clever private equity potential business purchasers...
AIM-listed online ladies fashionwear purveyor Sosandar (SOS) has released a trading statement covering its reporting Q1 from 1 April to 30 June. As per the trading and Covid-19 update provided last month, on the surface this morning’s statement appears reassuring, but is it?
AIM-listed online ladies-wear outfit Sosandar (SOS) has updated the market on its forthcoming FY results and the company’s response to Covid-19. On the surface there is much to celebrate – which perhaps is why the shares are up a very impressive 36% as I write. But there are a few niggles to concern…..well, actually, rather a lot.
Don’t laugh: having wondered if it was a spivvy buy following the placing last month to raise £5 million I did indeed nip in for a few shares. Thankfully it was not many, and this morning the company has offered up an update on the effects of the Corona Virus. As Tom Winnifrith said the other day, the question for many AIM Casino outfits is not whether they are cheap or not, but whether they will survive the pandemic at all – and the jury is out on that here because of missing data in this morning’s statement. Time to throw away the Adam Reynolds keyboard and answer my question!
AIM-listed purveyor of ladies wear, Sosandar (SOS) announced a placing via an accelerated bookbuild yesterday morning at 11.14am. By 1.50pm it was all over: the company raised £5 at 17p per share. Since the trading statement of 20 January, despite a very brief rise, the shares have made a bee-line for around 19p which simply shows that the analysis by Tom Winnifrith and myself was bang on the money: a placing was on the way. Anyone who bought at up to over 30p (egged on by certain bloggers drinking gallons of the Kool Aid & much more besides) was well warned by us. So what now?
AIM-listed online Women’s wear peddler Sosandar (SOS) delivered a Christmas trading update this morning. Bearing in mind that I was previously very bullish on the company, but lost faith as management strategy appeared to change with the wind, I was fascinated to see if I was still comfortable with having sold out, or had perhaps been too much of a pessimist.
AIM-listed Sosandar (SOS) has announced a £7 million placing at 15p – a small premium to yesterday’s close. The small premium is good news – or would be but the shares were over 20p just a couple of weeks back….and then came the results and trading update.
Well it looks like it's hats off to Tom Winnifrith: AIM-listed Sosandar (SOS) has reported full year numbers to March 2019 and the bald numbers are that it clocked up a loss of £3.5 million and ended the year with cash of £3.6 million. I think we can see how the maths is heading! But I’m not so sure the numbers are quite that bad...
Tom Winnifrith has suggested that I comment on AIM-listed Sosandar (SOS), given that the shares have drifted back below the 20p mark where my buy tip drew a line in the sand. Mind you, anyone who followed me will have done very well – and will still have a bunch of free shares – as I top-sliced at 27p and again at 38.4p having said buy at 13p. So my current scores-on-the-doors is a cash profit and some free shares.
AIM-listed Sosandar (SOS) has announced a full year trading update. On the surface, a rise in revenues to £4.4 million, up 228%, looks good but the statement is a bit vague and I fear that growth has slowed down somewhat, though it is still very impressive.
In covering this subject, my prime concern is not to hurt the feelings of Britain’s top share blogger, thirsty Paul Scott, who filled his boots at the 17p IPO. Mr Scott repeatedly argued, normally via 3AM thirsty tweet rants, that my tipping the shares was holding them back and so when I advised readers to bank 100% gains at 34p (and did so myself as well) he argued this was awful advice but thought it good for the share price which he saw at 65p+. The stock is off another 5% today at 22p to sell so should we be thinking of horrifying thirsty Paul and buying back in?
I reported back from my visit to the Ariana Resources (AAU) stand HERE but I was also very keen to check in with AIM-listed Sosandar (SOS). My position here is pretty good, having recommended a buy after last year’s UKI and taking profits twice: I am ahead in cash and I still have a little pile of free shares in Sosandar. But with the shares now sitting at just 26p -well down from the peak in the mid-forties – should I buy, sell or hold?
I might be hopelessly optimistic with AIM-listed Sosandar (SOS), but the latest trading statement read rather well to me. As per HERE my best case scenario was for Q3 sales of £1.7 million and they came in at £1.6 million, which means that Sosandar has clocked up £3.44 million of sales in the first nine months of the year. Compared to the house broker forecast by Shore Capital of £3.9 million of revenues for the full year that, as I have previously suggested, means an easy target. It is always nice to see under-promising and over-delivering, even if I thought the targets were too easy in the first place...
This morning AIM-listed ASOS (ASC) offered up a disastrous Trading Update noting a significant deterioration during November, that conditions remain challenging and that it was revising downwards sales growth to c. 15% (previously 20-25%), retail gross margins by -150bps (previously flat at 49.9%) and EBIT margin to 2% (previously 4%). Ouch, ouch and triple ouch. Asos saw its shares decline by a whopping 38% in early trading. So what about fledgling minnow, AIM-listed Sosandar (SOS)?
The next City Forum is on January 21 with Adam Reynolds as the guest speaker being quizzed by the Sith Lord Zak Mir. I bet Adam's quaking about that grilling. Three companies will also present and take questions as will Adam. Put the date in your diary. From this week's seminar here is Sosandar (SOS) presenting and taking questions.
I think we all agree that AIM-listed Sosandar (SOS) is a “good” rather than a “bad” company here on ShareProphets, it is just the valuation which some (quite understandably) question. The company filed its interims on Wednesday and I have to say that overall I was pretty pleased, although the cashburn might be a worry.
I continue to hold a small parcel of shares in AIM-listed Sosandar. I had been hoping to offload a few more at 50p but in the wake of a placing at 32p and the market sell-off that seems somewhat optimistic for some time to come. Tom Winnifrith sold all his shares some time ago and has commented on the update from the company and the placing at 32p HERE and HERE. So I thought I would throw my 2p worth in as well.
Broker Shore Cap insisted that shares in Sosandar (SOS) were worth 50p. Thirsty Paul Scott gushed about how they were potentially worth far more and after such massive pumping the stock hit the mid forties at which point it was valued at around thirty times historic sales. Insanity. And then the shares started sliding, falling from 44p at the start of this month to 36p yesterday. That must have been enough to turn anyone to drink. Whatever could have been happening… oh yes…
AIM-listed online ladies clothing purveyor Sosandar (SOS) had its AGM today and offered a few nuggets of information which suggest that things are pretty much on track with management expectations. Since we already know that management is “very comfortable” with the forecast numbers offered by house broker Shore Capital (I would translate that as meaning easy to beat!) and we know those numbers (see HERE). So that looks pretty positive. Mind you, we were not offered actual numbers for summer trading as the Adam Reynolds computer keyboard struck again!
Shareholders in AIM-listed Adam Reynolds stable Sosandar (SOS) have an AGM to look forward to next Tuesday, and I am very hopeful that a trading update will accompany proceedings. At the last count the company reported quarter on quarter growth of 70-odd percent – a remarkable achievement, even for a near start-up. The market is clearly hoping for more of the same, although I’m not sure that rate of growth will have been repeated over the summer holidays. But it has been growing like mad – and we loyal shareholders have done very well.
Shore Capital is the recently appointed house broker (and Nomad) to AIM-listed online ladies wear outfit Sosandar (SOS) and is thus hardly going to publish a sell note. Last night it released a broker note which has dropped into my inbox, and it has slapped a “present fair value” price of 50p on the shares. Normally one might treat such notes with a bit of caution for over-egging the pudding – after all, this broker note tells us that it is a marketing communication and as such I would expect the best case scenario to be put. But in this case I wonder about that. Here is why...
AIM-listed online ladies fashion wear start-up Sosandar (SOS) has seen its shares race even further ahead, as I predicted last week. At the weekend, with the shares a noggin below the 40p mark, I said it would be time to sell another tranche into what I expected would be a bit of a rally into the AGM when I would imagine a trading statement will be forthcoming. Today (thus far) the shares have clocked up yet another record high of 45.5p in the middle and I helped myself, selling a lump at 42.44p. But I am still holding over a third of my original holding.
My piece on AIM-listed Sosandar (SOS) Friday seems to have sparked a bit of interest. Noting that the shares had closed at an all-time high and with the date of the AGM just announced (and presumably another trading update), I reckoned it was a strong hold with a view to selling a portion at 40p. The shares duly put on another 10%, causing a smile at Deputy Sheriff Towers, but Tom Winnifrith sold all his Sosandar shares. Meanwhile Thirsty Paul Scott thinks it is a “hold forever” stock. Who is right?
Nigel Somerville says that he is hanging on for much more and his patience may be rewarded. Thirsty Paul Scott speaks to Sosandar (SOS) bosses regularly then updates his fellow morons on the ADVFN Bulletin Board. “Nudge, nudge, wink, wink, I speak to management regularly and it will all be brilliant” says Thirsty Paul. Whatever…
At the risk of upsetting retail-guru Thirsty Paul Scott who thinks it is bad for the share price if any expert other than he pontificates, I thought it was time to mention once again my hot tip of AIM-listed Sosandar (SOS) from the UK Investor Show earlier this year. Having offered favourable mention at 12.5p I tipped it at 13p, cashed in a slice at 27p and the shares closed last night at about 35p. It is all good news!
Thirsty Paul Scott is meant to be on a sabbatical but has taken time out to post his thoughts on Sosandar (SOS) on a Bulletin Board. While HotStockRockets suggested banking some gains or top slicing on Friday at 34.4p, Paul agrees with Nigel Somerville and reckons the shares are going a lot higher. Whatever one thinks of Thirsty, he knows the retail sector well and opines:
I called AIM-listed Sosandar a buy at 13p, moved to hold at 20p and suggested taking a slice of money off the table at 25p (I got over 27p). I still hold a shade over 75% of my holding so I’m still long, but the shares have moved up further to close yesterday at 32.7p, having peaked at 34.7p. So perhaps I was wrong to be such a coward and cash in so quickly. But I am deliriously happy, with a good chunk of my original stake banked, a whopping profit on the rest and seemingly plenty more to come.
I had been saying for a while that I was happy to pay up to 20p for shares in AIM-listed online fashion play Sosandar, and whilst I was highly encouraged by the full year results and especially the statement on current trading I had not changed my view. More to the point I said that at 25p I would be looking to take some money off the table. It seems that I am either Warren Buffett or a fool….but I’ve stuck to my guns.
How many companies list on AIM and then provide timely trading statements, upgrade their advisers, get full year numbers out early and beat forecasts? Can you name any? Well here is one: Sosandar (SOS)...
I started to soften my view on Sosandar (SOS) back in April having seen the founders at the UK Investor Show but thought I would formally update my position on this following yesterday’s results, as my name and “view” gets bandied around in connection with it. In summary, I am no longer a bear.
AIM-listed Sosandar (SOS), my tip from this year’s UK Investor Show, had already performed very well but this morning the full year results to March were released. It is always a good sign when companies publish results ahead of the deadline and Sosandar could have waited to the end of September. So it was with increased optimism that I read through the report, but will it be enough for me to raise my stance on the shares and flip flop again?
Other writers on this fine website (ie Tom Winnifrith!) may disagree, but shares in AIM-listed Sosandar (SOS) are back through 20p, which was my limit price to pick up stock. So once again I move my stance to hold. Flip-flop-flip-flop….but it’s not me, it’s the share price which keeps moving! Whatever, my tip from the UK Investor Show this year is doing very well.
No doubt I shall be held up as a joke for this, but AIM-listed Sosandar (SOS) is a buy again, in my book. So am I flop-flopping? Er, no. I decided I would pay up to 20p. The shares went through that mark so they were a hold. Now they are down to 19.15p, so they are a buy again.
I’m changing my stance on AIM-listed Sosandar (SOS). This is not because the company has done anything wrong, or that events have gone against it. Nor is it any fundamental reassessment of the company. No, it is just that the shares are well up since I tipped it and whilst it could be a buy still, I’d like to see updates on current trading before saying buy now.
AIM-listed Adam Reynolds float Sosandar (SOS) has been having quite a ride since I first commented on it following this year’s UK Investor Show at 12p to buy and tipped it at 13p – they are now up to 19p to buy so I guess that’s a 50% profit. I bought in at just over 15p and nabbed a small handful more on Friday at 18.46p.
When Sosandar (SOS) listed on AIM at 15p late last year, the forecast was that sales in the year to March 31 would be £1 million. Now we learn that they were £1.34 million. How many companies beat forecasts by that much in their IPO year? This is a special company as anyone who watched the two birds who run it HERE will know. This is not just about sales. It gets better for we loyal shareholders...
AIM-listed online women’s clothing play Sosandar (SOS) from the Adam Reynolds stable has announced its trading update for y/e 31 March 2018. This was my pick of the companies I saw and chatted to at the UK Investor Show, and so far the shares have performed admirably. Now it has produced a cracker of a trading update and I still rate the shares a buy, but it certainly is not a “widows and orphans” stock!
No one seemed to disagree that Ali and Julie came across incredibly well at the show. Sosandar (SOS) is a stock that I own as does Nigel Wray and so does Paul Scott who, in his sober moments, is a good retail analyst. Anyhow see what you think. I reckon the shares are a great buy at 15.5p.
I went with a shopping list of companies I wanted to speak to, and to find something which might prove a worthwhile investment – that, alongside chairing one session, a cameo appearance in another, a meeting with the Global Shorting Conspiracy and a bit of time on the ShareProphets stand. My marks out of ten were about 6 or 7 – I didn’t get to see all the companies I wanted to but I think I gleaned some useful information. And I have my tip – although it is not a widows and orphans pick!
As today is the day to celebrate resurrection, I thought it fitting to comment on a couple of stocks, namely Sosandar (SOS) and Woodford Patient Capital Trust (WPCT). Despite a difficult first quarter for the pair of them, I expect them to laugh death in the face and crack on from here bigger and better than ever.
Sosandar (SOS) has announced results for the nine months to 31st December 2017 – yes, they show a £2.1 million operating loss on revenue of £0.9 million, but remember its website only went live in September 2016 and momentum is very positive indeed…
The Bulletin Board knockers and, we are afraid some of you, were predicting a Christmas profits warning from Sosandar (SOS). Oh ye of little faith. The trading statement covering December and January is absolutely stunning. The headline is that net revenues (sales minus returns) exceeded management expectations.
Sosandar (SOS), the online women’s fashion retailer, has announced an update on trading. That is the bones. We have chatted to the company and can put some meat on those bones. The news is good. Very good.
I should start this piece by making clear that I am a fan of Paul Scott. I think his coverage of the small-cap space is excellent, data-driven and based on years of experience. But his investment in Sosandar (SOS) is a punt too far. I’ve been tempted to comment on Sosandar for a while now but Paul’s Bulletin Board moron-esque attempt at justification yesterday has tipped me over the edge.
I always defer to Paul Scott on matters retail. He is the guru. He got Boohoo (BOO) right and I was wrong (before I turned volte face and was right). So if Paul Scott says he has bought 1% of Sosandar (SOS), as a fellow shareholder I am cheered.
It seems that Thursday's RTO of Sosandar (SOS) at 15.1p went well enough. The shares closed Friday at 20p-21p and I am very confident indeed that we loyal shareholders would have a chance to sell at well over 30p before too long. This retailer will not be disappointing with its next trading statement which, I'm sure, will force brokers to increase forecasts. But some of my fellow shareholders don't seem to be the brightest sparks or my greatest fans. From the ADVFN asylum:
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