More opportunities to get in before the next rally! (?)
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.
Curious on this 400p target. Over what timeframe have you calculated this?
FY Results '21