Minding the London Stock Exchange’s Business
Independent and Fearless Financial Journalism Funded by Readers
Even a few of our detractors have now come around
Mothercare plc (MTC) has made a “Statement re Russia”. As a “global specialist brand for parents and young children”, what does it have to say?…
I asked you in yesterday's bearcast, which operation was blessed with a site visit from myself, the Mrs & Joshua, hint its shares are worth 0p.
Will Bidstack (BIDS) be £1 at Christmas as Justin the Clown predicted or will it crash with a lack of sales & profits warning. We know it is the latter, Justin is not stupid, just tied in by a busted business model at Vox which I again challenge him to discuss with me in a podcast. So far it is silence from the cowardly clown. I look at Futura Medical (FUM), cue flopping willy jokes, Ted Baker (TED) where I told y'all what would happen and Mothercare (MTC), ditto
Firstly, thanks to all who have donated to the Woodlarks Christmas grotto appeal. We are now at 57% of target, can the rest of you chip in today and get us there. Please donate HERE. In today's podcast I look at Bidstack (BIDS), Eden Research (EDEN), Dev Clever (DEV), Mothercare (MTC), Intu (INTU) and Sound Energy (SOU) where I did tell y'all so many times.
Lucian Miers calls in from Cambodia where he is escaping the nonsense of the election campaign, to ask is Jo Swinson really as dim as she seems and is Mothercare (MTC) bust. I am afraid that I have no answer to either question...
On today's podcast I look at Defenx (DFX), Big Dish (DISH), ask whether Mothercare (MTC) is heading for 0p, comment on Versarien (VRS), Kier (KIE), Petra Diamonds (PDL), Egdon Resources and other UK onshore oilers, frackers or not and at Woodford Patient Capital Trust (WPCT)
It was only a week ago that on orders from the evil PR spinners at Mothercare (MTC) the Sunday Times was running a puff piece about how the company was bringing in “restructuring experts” to look at its 79 UK stores (having shuttered another 55 in a CVA not that long ago) which racked up losses of £36 million last year. How time flies for the discredited deadwood press. Today Mothercare has called in the administrators for its UK stores.
It has been five months since I last wrote on troubled retailer Mothercare (MTC) where I observed that it was '...in all sorts of terminal problems...and good luck to anyone who wants to pick up its UK franchises'. That advice still appears to be on the money as apparently the company 'drafted in restructuring experts to assess options for its troubled UK business'. Oh dear... Start the chalking up for another win for the troubled and evolving retailer backdrop.
In today's podcast I look at Dev Clever (DEV), Tesla (TSLA), Mothercare (MTC), Versarien (VRS) and Block Energy (BLOE). Enjoy.
I like spin-offs as they are much more likely to be incorrectly priced than an average share will be. Sometimes this is because a newly spun-off business has a liberated management team who can really drive shareholder value and sensibly evolved strategic positioning. And sometimes it is because the remaining 'stub' business is underappreciated, as all eyes focus on the excitable new spin-off. This morning we effectively had spin-off related announcements from two corporate names I have individually written about before: Vodafone (VOD) and Mothercare (MTC)…
Mothercare (MTC) has announced results for its year ended 30th March 2019, emphasising they reflecting “a huge amount this year, refinancing, restructuring and reorganising Mothercare to ensure a sustainable future for the business”. Is there?...
I list a roll call of heros and urge you to join them HERE. In the podcast itself I cover Saga (SAGA), Mothercare (MTC), Andalas (ADL), and in some detail, Versarien (VRS).
In today's bearcast I discuss I3 Energy (I3E), Redde (REDD) and hapless Neil Woodford, Concepta (CPT), Optibiotix (OPTI), Yourgene (YGEN), Big Sofa (BST), Mirriad (MIRI) and Mothercare (MTC). If you enjoyed this, less than PC, bearcast, follow Jim Mellon and support the Rogue Bloggers for Woodlarks HERE.
Another day, another bunch of trading updates to review…
Okay, he is a conceited, overpaid, arrogant mother so I don't really feel sorry for him but I explain his appalling problem at doomed RM2 (RM2). I also look at Inspirit (INSP), Sabien (SNT) and Tomco (TOM) all three of which should be taken out and shot as their sole purpose on the AIM Casino is as a funder for the coke and hookers used by crony capitalists in the City. I explain a flaw (or two) in Malcolm's thesis today as I look at three retailers in trouble: Marks & Spencer (MKS), Debenhams (DEB) and Mothercare (MTC).
Ahead of a trip to the zoo and Barclays (BARC) with Joshua I look at Redcentric (RCN), Juridicia (JIL), Veltyco (VLTY), Integumen (SKIN), Urals Energy (UEN) and the shame of the bosses at the AIM Casino - Andalas (ADL), BlueJay (JAY), Chesterfield (CHF) and Mothercare (MTC) which will just NOT be around in five years time.
Oh Mothercare (MTC). It has been eight months since I last wrote about the self-styled 'leading global specialist retailer for parents and young children'...and once again the shares are kicking around just a couple of pence away from (all-time I believe) lows…
As you can see HERE, I have spent the morning loading a white van as boxes of my stuff heads out to the Greek Hovel which might just have a roof by the weekend! Yesterday i was in Manchester and braving its slums albeit with Brokerman Dan providing security was heroic. For that, if not for the planned 32 mile walk with Dan how about you give a tenner to Woodlarks HERE. On the podcast I cover Optibiotix (OPTI), another victim of Julie "lingerie on expenses" Meyer MBE on the phone, Stobart (STOB), FairFx (FFX), Mothercare (MTC) and - with not too much sniggering - the flop at me-too Viagra play N4 Pharma (N4P)
I suspect that Ocado (OCDO) is even more overvalued after today's share price surge on the Kroger deal - it goes to show the dangers of shorting anything other than an outright fraud in the current climate. I look at the FOBT news - Nanny State gets more and more bossy every day. I look also at Mothercare (MTC), Foxtons (FOXT) and WH Ireland (WHI)
For reasons explained in this podcast I am shaking and have just spent a long time on the phone to the Police. I do question sometimes why I continue to work. I do also comment on Mothercare (MTC), Uvenco (UVEN) and Servoca (SVCA). But if you don't mind I am having the rest of the day off.
If you are having problems shorting the big 1 billion mega scam exposed last night HERE, bearcast has the answer. In other news I discuss Anglo African Agriculture (AAAP), Symphony Environmental (SYM), Weatherley (WTI), Mothercare (MTC), Amur (AMC), Conviviality (CVR) and Ncondezi (NCCL).
Mr Allinson works for Cardew and bullied me in a most unpleasant way last Wednesday. Perhaps he thinks that he has found a journalist easily bullied. If so, the odious A grade shit thinks wrongly. And he is refusing to answer a key question about his client Air Partner (AIR). Elswhere I look at Mothercare (MTC), Tomco (TOM) and Carpetright (CPR). If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
There is a lot of news out today including the latest dodgy updates from retail stragglers Mothercare (MTC) and Carpetright (CPR), both of which are completely uninvestable at the moment as I last discussed HERE. However, it is two other names I would like to update on today.
I have not slept since Saturday and I am cream crackered. I discuss a few of the movies I watched flying to and from New York. Naturally watching Paddington 2 for the second and then third time was the highlight but there was also Atomic blonde which had great eighties music and lots of violence with commies getting killed. That's fine by me but there were certain scenes I felt a bit uncomfortable watching. I digress. On today's bearcast I cover UK Oil & Gas (UKOG), Mothercare (MTC) and the idea of we bears "preying" on retailers as legal wankers Linklaters suggest. I look at Avanti (AVN) and Pantheon (PANR) and recall an interview I did with Colin Bird. I also look at Nakama (NAK) and discuss how events can spiral badly for a company seen to be in trouble. If you like bearcasts then remember that at UK Investor on April 21 one of many highlights will be a live bearcast with myself and not one but, now, two special guests. Make sure you book a free ticket HERE using the promotional code WINNIFRITH.
And so in a surprise move Mothercare (MTC) fired its CEO Mark Newton-Jones last week and replaced him with David Wood who has a great CV and is, I am sure, a terribly good fellow. We were told the same about Newton-Jones four years ago. But as with the Titanic the iceberg has already struck and it is too late.
The stock market is of course the best soap opera in the world and today's episode has a distinct retail focus and stars comedy profit warnings, hedge fund bailouts, inevitably the banks and well paid CEOs working very hard...to earn less money. Given the structural shifts online, suppressed consumer spending capabilities and everything else we should not really be that surprised.
Okay the most frequent poster in our comments section is a nutso commie but hat tip to Wildes for a phrase he taught me today. In the bearcast I discuss how to make real bread ( my next career?), Accrol (ACRL), Micro Focus (MCRO), Inspirit (INSP), Conviviality (CVR), Mothercare (MTC), Online Blockchain (OBC) and have a prize contest on TechFinancials (TECH) - can anyone explain this bollocks to me. The prize will be awarded at UK Investor on April 21 where the highlight of the day will be a live bearcast with myself and Paul Scott. Make sure you book a free ticket HERE using the promotional code WINNIFRITH
The short list is Conviviality (SVR), Clear Leisure (CLP) and Graphene Nanochem (GRPH). I discuss all three but also UK Oil & Gas (UKOG) where the deafening silence is a very bad sign. I consider Sir Patrick's Day tomorrow and how Joshua and I will celebrate and I look at Mothercare (MTC), retail gloom, Mitie (MTO) and the double standards of the great and the good. Make sure you get your free ticket to UK Investor on April 21 using the promotional code WINNIFRITH when booking an investor class seat HERE - if only to hear a live 40 minute bearcast with myself & Paul Scott being recorded!
I have been a long term bear of Mothercare (MTC) on the simple basis that I do not see it as having a USP any more. It is a pointless dinosaur like Toys R' Us. The latter is already toast as of last week, the most recent trading statement from Mothercare indicates that it will go the same way.
Previously writing on Mothercare (MTC) it was with its shares having fallen to circa 70p in November, with I concluding “Profit warning ahoy! - this all suggesting prior forecasts of building slightly on last year’s full-year profit (£7.1 million, £19.7 million on an ‘adjusted’ basis) now in tatters and the balance sheet position potentially becoming precarious to boot. Sell”. Now a 12 noon Share price movement and media speculation announcement…
In today's podcast I reflect oin how good it is to be back at home with my son and heir Joshua causing me sleep deprivation and Oakley the cat pissing on the doorstep. I end with my battles with Bath Spa which continue but I have an invitation which would allow me to go National on it if BS does not do the right thing. I explain this. The meat of the podcast covers MySquar (MYSQ) - the fraudtsers - and Julie Meyer MBE, Mothercare (MTC), Conroy Gold (CGNR) and Prospex Oil & Gas (PXOG). Finally I have a question or two for Fishing Republic (FISH) about its acting CEO
The Boxing Day high street sales data was poor but what does this one set of data mean? There are bigger macro trends which should fill retailers with fear, I discuss Patisserie Valerie (CAKE), Debenhams (DEB), Mothercare (MTC) and Fishing Republic (FISH) , three of four of which will go bust.
I was uber bearish on Mothercare (MTC) in yesterday's bearcast and could easily see it go to zero as I explained in full. My confidence in that assessment is reinforced by comments made by Matt Earl, the Dark Destroyer who is the Mothercare specialist in the global shorting conspiracy.
A half-year report from Mothercare (MTC) includes “we are on track with our transformation plans for our business, with like-for-like sales in the UK growing 2.5% and gross margins up by 34 bps year on year, in the first half. Across the business, we continue to invest and make progress, developing the Mothercare brand into a digitally led, global specialist”. So why are the shares currently a further more than 16% lower, at circa 70p?...
Apologies for the lack of a bearcast yesterday, I was just feeling tired and hacked off with the world of work. So you can have two today. I start with a look at the markets covering Greka Drilling (GDL) and related party dog Green Dragon (GDG). Then it is onto Mothercare (MTC), BCA Marketplace (BCA), On Line (ONL) and finally in some detail Westminster Group (WSG) where I wonder if the curse of Tony Baldry is about to strike.
Earlier this week I discussed HERE how eternity in hell might involve being lectured by a ponce from Bristol City Council on Health & Safety Rules and EU regulations on child car seats. I have another vision of hell today and it involves the Mother in law, Mothercare and discussions about prams. On other, more stockmarket related matters, I discuss, in some detail, Avanti Communications (AVN), Grafenia (GRA) and Glenwick (GWIK). I have a few more words on our devastating expose earlier today (HERE) on Strat Aero (AERO) and I offer praise up to the delightfully politically incorrect Anthony Coombs of S&U (SUS) for his trading statement today covering Brexit in which he sticks it firmly to the liberal chattering classes of doomsayers.
Mothercare (MTC) has been a potential turnaround story for the past several years, and has doubtless tried the patience of many long-suffering investors. Thursday saw the release of a Q1 trading update.
Lucian will be here soon so I thought Id better record ahead of our trip to the Conservative Club with its tempting cheap beer. On the agenda I fail to mention that Finncap are complete and utter bastards but they are. I do, however, cover Ruspetro (RPO), Gulf Keystone (GKP), SeaEnergy (SEA), Rose Petroleum (ROSE), Sierra Rutile (SRX), Burberry (BRBY), Mothercare (MTC), a couple of Paul Scott jokes - please do not tell me he has any friends in the Mothercare management community that he thinks I may be offending - as well as a word or two on Challenger Acquisitions (CHAL)
GXG listed joke company House of Britannia (HOBP) run by the liar Simon Petherick has today announced that Greg Tufnell - brother of cricketer Phil "the cat" Tufnell has joined its board but Petherick being Petherick the release is just downright misleading on so many counts. This truly is a bargepole stock.
If you want me to analyse a stock for you just drop me a line at sqmir@hotmail.com - Today I look at Eland Oil & Gas, Mothercare and Renew Holdings.
At the weekend we updated the ShareProphets Bear Portfolio compiled by myself, Matt Earl, Lucian Miers and Evil Knievil. So far our average sell is down by 18.2% in just over three months. Better days lie ahead. But which of the ten stocks we expect to slump do readers think will crash most by Christmas. You said:
So far the bear portfolio of Matt Earl (the Dark Destroyer), Evil Knievil (the fat man), Lucian Miers (the Bard of the Boleyn) and Tom Winnifrith (the Sheriff of AIM) is down by an average of 18.2%. Today one stock leaves the portfolio (New World) having duly collapsed and in its stead goes African Mining (AMI) which will collapse. But which of our 10 shorts do you think will slump most by Christmas. The deadline for voting is midnight tonight as things are moving rapidly with at least one constituent.
Back in the summer, July 9, the 4 Bears sat down and compiled our top ten shorts for the summer. There has been one disaster – Concha (CHA) – but despite that an average loss (gain for us) of 18.2% per short is not bad. So where do we stand now?
I am enjoying recording podcasts rather than videos - for starters no-one comments on how unshave or scruffy I look. So we will continue with the BearCast. And this, my fourth edition, is I think the ,most ard hitting yet. Even I think I was rather stern. I look at :
A month ago myself, Evil Knievil, Lucian Miers and Matt Earl (the Dark Destroyer) agreed on a sort of joint top ten UK stocks to short for the summer. Since then the FTSE 100 has fallen by 8%. As you can see below our average fall is 10.51% so we are doing okay so far. Only two of the ten are up.
Infamous bear raider Evil Knievil believes that equity markets will have a poor next few months but his short portfolio is based on company specifics. In a conversation just now we discussed his biggest three short positions. And they are:
This is a truly brilliant spreadsheet from Paul Scott, the person I rate as the UK’s top share blogger and an all-round nice guy to boot. In saying all round this is not a reference to his figure although…. Paul does not write for this site and is fiercely independent in his views but he has graciously allowed me to publish this anyway. And so especially for followers of Quindell (QPP), Globo (GBO), Outsourcery (OUT) and a good few others…
Mothercare (MTC) shares are down by 10% to 234p today as Destiny Maternity formally pulled out of a bid approach. Quelle frigging surprise! The only question is how low the stock will fall? Ask the experts.
Our very own ChrisOil met up earlier this week with a leading fund manager with a penchant for oil stocks in his small cap portfolio…this guy does not hold back. Chris writes:
Two weeks ago Evil Knievil, Matt Earl, Lucian Miers and I served up our top ten stocks to short this summer and why – HERE. Avanti Communications (AVN) has already done the decent thing and issued a profits warning. We asked our readers at the weekend to vote on which of the ten would be next And the results are:
Ten days ago, Lucian Miers, Matt Earl (The Dark Destroyer), Evil Knievil and I served up our top ten shorts in London. One of them, Avanti Communications (AVN), has already done the decent thing and
Anyone who was at UK Investor 2014 knows that the Bears session (HERE) saw some great calls. And so ahead of a long sweaty summer I asked Evil Knievil, Matt Earl (The Dark Destroyer) and Lucian Miers for their top 5 shorts of the summer and for good measure I add in my own. Between us we have thus compiled the top ten stocks to short in London!
I am glad to say that the steely glare of reality has alighted on a few stocks this week that should be familiar to readers of this site.
Two weeks ago Tom Winnifrith and Lucian Miers recorded a series of four videos which first appeared on their Nifty Fifty website. This video covers Globo (GBO), blinkx (BLNX), Avanto Communications (AVN), Iofina (IOF) and Quindell (QPP).
Bear raider Evil Knievil has revealed to me that his biggest short position is now Mothercare (MTC). Evil opened his position at north of 170p ten days ago and the shares are now 157.25p, off another 2.5p today. Knievil warns that a big collapse is on the way.
