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.