Joe Easton

Valuations, short selling, broker views
Equities editor @markets
Opinions mine

[Joe Easton @marketsjoe]

@aleabitoreddit Is there a chance this has gone too high? RPI Foundation sold stock at about half today's price only two months ago

[Joe Easton @marketsjoe]

Raspberry PI above £10 a share for first time

Trading on 65x two-year forward earnings

Has $RPI gone too high?

[Joe Easton @marketsjoe]

Will Europeans ever embrace the stock market like Americans do?

(Chart via Berenberg)

[Joe Easton @marketsjoe]

AIM/UK small cap pre-market broker calls:

#EVOK Evoke +10-25%: Recommended Intralot takeover
#RPI Raspberry Pi +2-15%: Strong H1 profitability outlook
#ALRT Defence Holdings +5-10%: Ministry contract transparency notice
#FORG Forgent +5-10%: Drilling starts within weeks
#IOF Iofina +5-10%: Additional brine supply agreement
#KEN Kendrick Resources +5-10%: Rare earth discovery potential
#ADME ADM Energy +10%: Increased Vega investment
#REVB Revolution Beauty +5%: FCA probe closed
#ANIC Agronomics +5%: Positive portfolio updates
#GDR Genedrive +5%: HMRC tax credit received
#URU URU Metals -15%: Weaker Target 2 anomaly
#CTL CleanTech Lithium -15%: Discounted fundraising announced
#BTG BTG Consulting -2% to +2%: Acquires MVLOnline website
#RSG Resolute Mining -7-10%: Q2 production warning
#SOM Somero Enterprises +1-3%: Positive trading momentum

[Joe Easton @marketsjoe]

Europe pre-market broker calls:

Bodycote -5-15%: Apollo withdraws offer interest
Resolute Mining -7-10%: Q2 production warning
Oxford Biomedica +1-5%: Open to takeover offers
Prudential -1-2%: China regulatory concerns
Standard Chartered -1-2%: China regulatory concerns
HSBC Holdings -1-2%: China regulatory concerns
Air France-KLM -1%: Barclays downgrades stock
Airbus +1%: May deliveries increase
Eiffage +1%: Wins German contracts
Givaudan +1%: Acquires Eurofragance stake
Pirelli +1%: Challenges short seller claims
Somero Enterprises +1-3%: Positive trading momentum
STV +1-2%: Advertising revenue beats
Rolls-Royce -1%: Nuclear outsourcing criticism

[Joe Easton @marketsjoe]

Man United shares up 14% as @hellierd reports some members of Glazer family have been debating whether to sell stake

Stock hits highest since August 2023 https://t.co/mAIl8lykZh $MANU

[Joe Easton @marketsjoe]

Panmure Liberum recommends selling Ceres Power shares but not shorting them

Says 700% rally ignores execution risks

“Given share price has been sentiment driven, it is too risky to short”

Via @Bloomberg_JoshW #CWR https://t.co/u9IgZdLacy

[Joe Easton @marketsjoe]

@JonasEmre7 Might just suggest a long-term plan to exit

[Joe Easton @marketsjoe]

Same $SIVE exec that sold stock last week also sold $900,000 worth of shares in March

Would have been worth about $6 million today

[Joe Easton @marketsjoe]

$SIVE now -15%

[Joe Easton @marketsjoe]

Europe pre-market broker calls:

Formpipe Software +50%: Tabellae bid offer
Universal Music -6%-8%: Pershing Square stake sale
Sivers Semiconductor -8%: Wireless head sells shares $SIVE
Burckhardt Compression -7%: Revenue outlook disappoints
CMC Markets +1%-3%: Positive FY27 outlook
Remy Cointreau +2%-3%: Profit beats expectations
EasyJet +2%-3%: Castlelake eyes MSC partnership
S4 Capital +1%-3%: FY revenue in line
Partners -2%: Withdrawals pressure funds
Mitie +1%-2%: Buyback extended
Great Portland Estates +1%: City Tower lettings
HgCapital Trust +1%: Strategic investment increase
ISS +1%: Defence partnership expanded
UCB +1%: Positive Phase 3 study

[Joe Easton @marketsjoe]

AIM/UK small cap pre-market broker calls:

#PMP Portmeirion -40%: Placing at 50p
#TM1 Technology Minerals -20%-25%: Conditional fundraise proposed
#MET Metir +10%-20%: First PFAS detector sale
#TYM Tertiary Minerals -10%-15%: Placing at 0.05p
#NEO Neo Energy Metals -15%: Regulatory delays acquisition
#CRTX Crism Therapeutics +5%-15%: Grant award received
#INC Incanthera +10%-15%: Skincare acquisition announced
#ALRT Defence Holdings +5%-10%: Strategic partnership signed
#REE Altona Rare Earths +5%-10%: Rare earth enrichment confirmed
#GMET Guardian Metal Resources +3%-10%: Tremor Zone discovered
#HAMA Hamak Gold +2%-10%: High-grade gold hits
#HE1 Helium One Global +5%-10%: Offtake agreement secured
#GTLY Gateley -5%-3%: Mixed trading update
#AET Afentra -5%-2%: Placing completed
#PMI Premier Miton -5%-1%: Dividend rebased
#AEO Aeorema Communications +3%-5%: Cannes activity record
#AURR Aurrigo International +2%-3%: Results ahead expectations
#JLP Jubilee Metals +3%-5%: Roan operations resumed
#SPR Springfield Properties +2%-5%: Debt eliminated
#SWT Switch Metals +2%-5%: Drill targets confirmed
#HUI Hydrogen Utopia International +2%-5%: Defence subsidiary launched
#OBI Ondine Biomedical +5%: Revenue growth reported
#V3TC Vaultz Capital +5%: Chairman bought shares
#PEN Pennant International +2%-4%: Auxilium Phase 3 launched
#BRES Blencowe Resources +3%: Broker note published
#SSTY Safestay +3%: Berlin lease terminated
#EAH Eco Animal Health +2%: Credit facility renewed
#FIN Finseta +2%: Revenue rose 9%
#HGT HgCapital Trust +1%: Strategic investment increase
#RHR Richmond Hill -2%: Funding need likely
#VLG Venture Life +2%: Chairman bought shares
#HUI Hydrogen Utopia International +2%-5%: Defence subsidiary launched

[Joe Easton @marketsjoe]

Any mention of data centers can send a stock soaring

Valeo +18% following JPMorgan comment

Will be French car parts maker's biggest gain since 2020

[Joe Easton @marketsjoe]

Hearing of a few shortsellers in Investec today

Follows takeover speculation that some are dismissing

Stock 7% below spike after initial headlines

[Joe Easton @marketsjoe]

AIM/UK small cap pre-market broker calls:

#BSFA BSF Enterprise -25% to -20%: Discounted placing announced
#CINH Cindrigo Holdings +20%: Investment funds expected
#FCM First Class Metals +10% to +20%: Ontario asset sale
#DEBS Debenhams +3% to +10%: Returns to growth
#ITM ITM Power +1% to +5%: Protium partnership agreed
#RKH Rockhopper Exploration -5% to +5%: FY results mixed
#RFX Ramsdens Holdings +5%: Raises profit guidance
#RBD Reabold Resources +5%: Zenith exclusivity agreement
#VLG Venture Life +5%: FemiClear acquisition
#VNET Vianet +5%: Contract renewal agreed
#AEG Active Energy +5%: Bahrain meeting invitation
#MAC Marechale Capital -5%: Acquisition share issue
#NESF NextEnergy Solar Fund -5%: NAV declined
#TAND Tan Delta Systems -5%: FY revenue update
#DSCV discoverIE +1% to +3%: Orders ahead of sales
#G4M Gear4music +2% to +3%: Buyback announced
#ATC ATC Music +2%: Revenue growth continued
#AVAP Avation +2%: Lease agreement signed
#FEN Frenkel Topping +2%: FCA clearance received
#GFM Griffin Mining +2%: Buyback programme reinstated
#HUD Huddled +2%: Revenue increased
#SKA Shuka Minerals +2%: Encouraging drill results
#SRVL Serval Resources +2%: Namibia exploration results
#ZEN Zenith Energy +2%: Daybreak exclusivity agreed

[Joe Easton @marketsjoe]

Europe pre-market broker calls:

B&M European Value Retail -5% to +3%: FY results mixed
Inditex +2% to +5%: Strong Q2 start
Partners -3% to -1%: Redemption requests rise
Ninety One -3% to +2%: FY profit miss
discoverIE +1% to +3%: Orders ahead of sales
Howden Joinery +1% to +3%: Buying DIY Kitchens
Voestalpine +1% to +2%: FY results beat
Wolters Kluwer +1% to +2%: OpenAI collaboration expands
Energean -1%: Angola deal uncertainty
Currys +1%: Names new CEO
Elementis +1%: Buyback commenced
Eiffage +1%: Wins French contract
Geberit +1%: New share buyback
Tritax Big Box REIT +1%: Logistics assets sold
UCB +1%: Positive Bimzelx data
Ubisoft +1%: GameStop read-across

[Joe Easton @marketsjoe]

@Matrix_B0SS Hi Top,

I will ask the shortsellers for you

[Joe Easton @marketsjoe]

$SIVE short squeeze in full swing

43% rally with 17% of free float shorted

Painful morning for some

[Joe Easton @marketsjoe]

JPMorgan warns against piling into $SOI rally

"Some of the euphoria around the shares unreasonably diminishes the risk of price erosion and market share loss due to competition"

Notes Soitec's big premium versus peers

[Joe Easton @marketsjoe]

AIM/UK small cap pre-market broker calls:

#AURA Aura Energy +10%: Nuclear funding discussions
#LIKE Likewise +10%: Revenue growth accelerates
#GELN Gelion +10%: Nissan battery partnership
#HEX Helix Exploration +10%: Strong helium results
#SATS Satsuma Technology +10%: Potential capital return
#GBG GB Group -10% to -5%: Higher FY27 investment
#CPP CPP Group -10%: Liquidity concerns persist
#TRP Tower Resources -10%: FY loss reported
#VRCI Verici DX +5% to +10%: Additional AMA codes
#EXR Engage XR +5%: Expects H2 improvement
#MAC Marchal Capital +5%: New senior adviser
#TMO Time Out +5%: Spanish partnership deal
#VSA VSA Capital +5%: Director purchases
#ASIC Sterling Digital +5%: First gas site contract
#ELM Elementis +2% to +5%: Pharma sale, buyback
#GEO Geo Exploration +2% to +5%: Survey completed
#IHC Inspiration Healthcare -5%: Product transfer announced
#CAML Central Asia Metals -3%: Cygnus acquisition proposed
#PANR Pantheon Resources -2%: Farm-out talks continue
#PLSR Pulsar Helium -2%: Exploration investment rises
#CMRS Critical Minerals +2%: Morocco drilling update
#FMET Fulcrum Metals +2%: Encouraging sampling results
#GANA Gana Media +2%: Strategic partnership signed
#GHH Gooch & Housego -1% to +2%: FY expectations unchanged
#GSCU Great Southern Copper +2%: Drilling commenced
#PALM Panther Metals +2%: Encouraging drill results
#POW Power Metal Resources +2%: FY profit growth
#SML Strategic Minerals +2%: Redmoor project progress
#BOKU Boku +1% to +2%: Buyback extended
#CHG Chemring -2% to +2%: FY outlook unchanged
#PAG Paragon Banking -2% to +2%: Dividend hike, buyback extended
#NRR NewRiver +1%: Results meet forecasts
#SQZ Serica Energy -1% to +2%: CMD, guidance reiterated
#IQE IQE +1%: AI demand supports semis $IQE

[Joe Easton @marketsjoe]

Europe pre-market broker calls:

Abivax -15% to -25%: Obefazimod drug trial data $ABVX
Avolta -4% to -7%: Richemont share placing
BW LPG -5%: Q1 earnings miss
STMicroelectronics +1% to +5%: Raises data center forecast
British American Tobacco -3% to +2%: Reiterates FY guidance
Paragon Banking +1% to +2%: Dividend hike, buyback extended
Barry Callebaut -2% to +1%: Mid-term growth targets
Kering +1%: Appoints McQueen CEO
British Land +1%: Names new CEO
Saab +1%: Wins air defense order
Siemens Energy +1%: Acquires Camlin Group
TeamViewer +1%: Sales issues addressed
Wizz Air +1% to +2%: May traffic up 26%
Chemring -1% to +2%: H1 revenue miss
BP -1%: Backs chair search
Murapol -1%: Overnight share placing
Nokia +1%: AI demand supports semis $NOK