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Latest Views & News

Good news for both easyJet and Smiths Group shareholders

By Chris Bailey of Financial Orbit | Tuesday 28 September 2021

Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I may not have been on a plane since January 2020 but I still like easyJet (EZJ) shares and was pleased to read earlier today on the ‘31 for 47 rights issue of 301m New Shares at 410p per New Share…valid acceptances representing approximately 93.0%’. Whilst most money raisings will induce volatility, earlier this month I wrote about how I backed this deal. Frankly, I am amazed that 7% of investors failed to do this. That’s their mistake in my view. Easyjet remains a buy for me. I might even get the chance to travel on one of its planes over the next year. Also earlier this year I talked about looking for the opportunities to buy the ‘British multinational diversified engineering business’ Smiths Group (SMIN) when its shares fell below £15.

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