Share price obliterated again this morning
No idea why though - pwc auditors news was announced on Friday last week
Money laundering and VAT fraud. NCA are investigating their suppliers
Apparently ‘modern’ slavery is also involved
Announced after trading closed?
The reaction from this will scandal could make or break boohoo.
My worry about these allegations is that I fear other companies are doing something similar and getting away with it.
I’ve had to cash out… far too risky. Whilst their customer base will largely be oblivious to this, I believe either the growing ‘woke/green’ movement will take their money elsewhere or legislation will catch them out.
They really can’t catch a break rn.
Down another 8%. What price will people buy at?
Erm, I just bought at 233p.
If it goes lower I might get some more.
I sold for a small profit at 2.77. While I am generally patient and will ride most things out, I don’t have enough affinity or belief in the brand ethically to continue. The latter of that has bothered me since I bought. They stick out like a sore thumb in my portfolio and it’s time to go!
Terrible company, terrible ethics, terrible management, will never be a great company with a moral background. Crash & burrrrrn
“Not all that glitters is gold”, we could say that.
Looks like it’s recovered a bit since the open. This is a real opportunity to turn their business around. This scandal just shows how important ESG is to investors and if they can’t improve this then they won’t be successful. This is something that they can fix easily and my target remains 400p as the growth metrics still are very promising
Boohoo’s reputation had been trashed, it’s only hope going forward is to be whiter than white.
Any misdemeanour’s will be jumped by the press.
If it can get it right, most people will soon forget and it can move on.
You could argue that from now on it WIll be an ethical company. It may have been forced too, but that’s true of a lot of companies that we invest in.
FY Results '21
It’s price momentum, financial quality & YoY revenue growth at a consistent profit margin. Sorry it’s not purely mathematical answer. Of course they need to mop up this mess ASAP in order for that to play out
Mindless consumers are mindless consumers. How many people forgot about Matlan refusing to donate to the relief fund for the 2013 Dhaka garment factory collapse when 1,134 workers died and ~2500 were injured, presumably many with life changing injuries? I think in the end they donated a truly paltry sum after dragging their heels .
Superhans says it best - “You can’t trust people. People like Coldplay and voted for the Nazis”. I think Boohoo will rise again and, if the fools who run Primark continue to avoid online sales, then Boohoo might flourish when the next covid lockdown happens… and that’s a shame because the directors of the company will get away with what they’ve done and make a tidy profit too, such is modern day Britain.