Interesting article in the Sunday Times on Sky Europe (Comcast) results. I'd say SKT is not too far off. The news was better than expectations but I didn't see much of a share price bounce, though Sky Europe is just one of the businesses they own (aside from Street Fighter II). Discl: I'm in.
Sky’s revenues fell by more than 10 per cent in the second quarter after the Premier League and other sports events were disrupted or cancelled and advertisers slashed spending. Turnover dropped 13 per cent to $4.1 billion after Sky allowed customers to suspend monthly sports subscription payments during the hiatus in live sports, according to results from Comcast, its American parent. Its advertising sales slumped by 41 per cent as marketing chiefs reined in spending and the British and Italian governments placed curbs on gambling adverts. Sky said its customer numbers across Europe decreased by 214,000 to 23.7 million during the second quarter and that its underlying profits dipped 3 per cent to $749 million. The broadcaster has lost 5 per cent of its sports subscribers since March.
TA looking dicey. Heavily oversold on RSI basis, but once it broke that .137 support it was some dangerous gap action down to 0.100. Let's hope it doesn't get there
You could be in luck picking the bottom - maybe, just maybe.
I have just added up the number of shares traded since the trading halt to facilitate the capital raise was lifted on 25 May 2020 and it totals 267m shares!
There will be traders punting in and out of course but there certainly has been huge volume going through.
Add yesterday & today's turnover so far, I make it that 270m shares have traded since 25 May 2020 when the trading halt was lifted.
It could indeed be that the new investors and underwriters (278m shares at 12c) who wanted to lock in their gains have indeed sold and are now out of the market.
I am hoping the bottom is in on this one because possibly very foolishly, I have changed by offer from all at 0.1c to more modest amounts at 12.Xc (where X is an integer between 0 and 9).
Add yesterday & today's turnover so far, I make it that 270m shares have traded since 25 May 2020 when the trading halt was lifted.
It could indeed be that the new investors and underwriters (278m shares at 12c) who wanted to lock in their gains have indeed sold and are now out of the market.
But Balance - Martin was ‘delighted’ with having new shareholders and welcomed them to the register
Suppose both delighted with this ...win win
Last edited by winner69; 05-08-2020 at 04:28 PM.
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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