Evil Knievil: Boo

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Evil Knievil: Boo

I am astonished that Boohoo (LON:BOO) has fallen only 35p this morning. It is true that there is a powerful phalanx of supporters who hope against hope that this fall can be contained. But one must be realistic: the truth is that BOO has been poleaxed in that its margins are hugely suspect.

What PE is it on? I do not know but one must budget for the possibility that it has doubled. The business is dependent upon just in time ordering unwittingly subsidised by HMG.

I think it very unlikely that BOO did not know what was going on in Leicester.

Institutional investors will sell and the stock will be rated as uninvestable. I see Liberum have gone for a 350p target price. Sub 200p seems rather closer to probability to me.

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Comments (1)

  • Paul Hemsley says:

    Of course Boohoo knew what was going on in Leicester. Leicester is majority Asian, as are the majority of garment factories. Another worry is that Boohoo have just purchased a company from the bosses sons. Why?

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