NEW ARTICLE: US woes cause 24% collapse at Greencore "Since entering the US market in 2008, convenience foods maker LSE:GNC:Greencore has grown rapidly to the point that American consumers now generate almost 40% of the company's £2.3 billion in annual revenues.This growth included the biggest deal ..."[link]
Re: Out of steam Great Call. Congratulations on your decision.
Out of steam Nasty looking head and shoulders now formed on this. Does not augur well. Sold half today.
Re: Recovering well yes, fully agree.I bought these at £1.00around the horse meat time and the price shot up to £3.50 i expected more but with discounting and brevett this was unfairly punished .i did sell and have bought in again.should go higher past £2.60soonish.
Sold 2 Dir. have sold 358k I think the shares are bonus award nil cost I sold at 219
Great Figures Impressive figures...Share price should recover nicely , back to the 240 levels soon I guess.
Directors buy in and 4 brokers re affirm buy note ,for what its worth.just bought in again,till results.
Re: Baffling fall/Oversold Yes this is sliding fast.Apart from negitive Brexit news,no more frozen food in US.I guess that its to do with Amazon who have bought a food retailer and will next week start undercutting some prices.Market has well overreacted .GNC was doing well a year ago and now is at a modest level.I might buy in again soon .Good luck.
Baffling fall/Oversold Like many shareholders, executives are confused and frustrated with the weakness in the share price despite delivering solid operational performance year to date, a Merrion Capital analyst wrote in a note to investors.We are not going to assume that something untoward is happening at Greencore because its share price has been under pressure but prefer to base our assumptions around recent updates, guidance and industry trends, the analyst continued.Analyst Jason Mollins told clients that Goodbodys stockbrokers near-term forecasts are unlikely to change materially, albeit medium term profit growth may be nudged down slightly.Over the past week Greencores share price has fallen by as much as 15 per cent.
Heavy Institutional Selling Some serious heavy selling today by institutions . Wonder who is selling ?SP very weak over summer months .I sold out at over 240p some weeks ago and it's on my watch list , but I like what GNC is doing and will buy in again probably when sentiment returns .
IC Buy Tip Greencore set to benefit from Tyson dealShares in food producer Greencore Group (GNC) fell by nearly 8 per cent after its biggest US customer, Tyson Foods, announced it was buying Advance Pierre for $3.2bn (£2.5bn) - a business operating in Greencore's fast growing "food-to-go" niche. But we feel that the market's knee-jerk reaction to the news ignores the fact that this deal probably represents more of an opportunity than a threat for Greencore.[link]
Re: Why the 15p fall in SP on the 25th? I see some news that Tyson Foods in the USA has made an acquisition that could ultimately result in them buying less from Greencore . Difficult to assess implications .
Investors Chronicle says "Shares in Greencore Group (GNC) fell by 8 per cent yesterday after its largest US competitor Tyson Foods bought fellow packaged food maker AdvancePierre for $3.2bn (£2.5bn). Shareholders could be nervous that Greencore’s American business Peacock Foods could lose contracts as Tyson takes some of its outsourcing back in house. Our buy tip is under review."
Re: Why the 15p fall in SP on the 25th? Looks like an institutional investor is selling down or out as the volumes have gone through the roof . If that is the case we should see an RNS either sometime today or tomorrow .I topped up at 229p as the company has not issued any new news .