The IPO of Procook (PROC) last November was one that I explicitly warned you about. That offer was at 145p. The shares are now 40p but CEO Daniel O Neill really is the most almighty spoofer, his share buying of late is a red flag in itself, an invitation to go short.
Results for the year to April 3 2022 - out today from Procook (PROC) - were made irrelevant when, on 10 June this year, the company issued a dire profits warning. But for what it's worth, the results are shite.
The big institutions all barreled in to ProCook (PROC), since they knew better than Old Tom Winnifrith, despite his explicit warnings why this would end in tears. So, too, did Primary Bid, which was a keen supporter - as was our own Malcolm Stacey. What was he thinking? But, just seven months after the IPO comes a disastrous profits warning, and the shares have collapsed. While Malcolm drowns his sorrows with an extra pint of Old Mother' Green's organic ale, it is ouzo time at the Welsh Hovel. But do the founding O’Neill family, who flogged tens of millions worth of shares to dumb IIs, really care?
November IPO at 145p per share, direct-to-consumer specialist kitchenware group ProCook (PROC) has announced Q4 trading results for the 12 weeks ended 3rd April and for its full year. So what of the shares currently at 127p?...
Hello Share Mashers. After Covid, Britain may never be the same again. Many in the huge army of new home workers won’t travel to work any more. And there’ll be more home cooking going on. You can’t make meals without the right pots and pans and the more you cook the more you need. Which is probably why a company called ProCook (PROC) is cooking on gas at the moment.
