One for widows and orphans

Last night BooHoo (LON:BOO) was criticised on Channel 4 for paying in effect less than the minimum wage to get its garments run up. This has had no effect upon the share price. I doubt if the market is being sensible. In any event, the share price at 141p is far too high.

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At the risk of being thought repetitive I remark that MP Evans (LON:MPE) declared on 16th January that “the current share price” – then c. 650p – “very substantially undervalues the Group’s assets”. They then advised that they would go on buying in stock. MPE is now on AIM and therefore stamp duty does not impact.

Be it noted that at 8.19 this morning c. 5m shares went through at 715p. This might have been jiggling the home team’s batting order or it could have been a hungry start by a boarding party batsman. Either way, for those who have a little patience, MPE is a safe bet at under 700p. One could remark that even widows and orphans should haul themselves aboard. The target is all of 800p.

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Still not a dickie bird from Mitie (LON:MTO). This suggests to me that it is not good news for bulls/holders to come. There is no proof available to outsiders but delay in these circumstances indicates that there is a lot of head-scratching going on at MTO HQ.


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Watchstone (LON:WTG) was a teensy weensy opaque when commenting on its current imputed tnav. But the share price, at 190p, has surely been sold down far enough.

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FeverTree (LON:FEVR) produced strong figures this morning. This enabled me to sell again. But others might prefer to be more cautious on the grounds that FEVR is not showing the wibwobs yet at 1,200p.

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I shorted Japanese Yen and GBP .v. USD this morning. Protectionism does not necessarily mean a weaker USD.

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Finally, Gina Miller is to be congratulated on winning at the Supreme Court. I know she had the best advice in the land but, even so, it takes a cool nerve to win at this level. (She is of course misinformed as to the desirability of Bremaining triumphing. So I am congratulating her on standing her ground and not upon her judgement.)