The reason that Rockhopper (RKH) is so low is that the market is signalling that it believes that the Italian government will overturn the recent arbitration award. But this is surely nonsense in that the arbitration award cannot be set aside unless RKH has materially misrepresented its position – which I very much doubt. So there is still time to climb aboard at 15p or lower.
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Over at Naked Wine (WINE) something has obviously gone very wrong. As it happens my younger daughter’s godfather made some reasonable dough in WINE’s antecedent, Majestic. He tells me that WINE has hit trouble in the USA where regulation is extensive and varies from state to state. Quite where WINE is in its decline I do not know but it looks serious trouble to me. Now 80p bid.
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Boohoo (BOO) has gone from wonderstock to serious decay. I shorted it at 41p yesterday.
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This debate about the structuring of bankers’ pay is pathetically stupid. Surely, if a bank is so stupid as to overpay, shareholders should change its directors. Simples.