Half Year Results out on 25th of February, notice today...
New share price high today (52c now) with massive buy pressure has some solid expectations around those results. Just hope Mike and the team deliver.
I take it they will not be doing a pre-half year results presentation like last year and causing a price sensitive information issues again!
EGP Capital submitted a ‘Notice of ceasing to be a substantial holder’ form on 18/11/24.
The form states that they’ve sold around 1.6Mill SGI shares from 3/9/24 to 18/11/24. They originally owned around 7.2Mill shares so I’m guessing they’ve dipped under the 4.99% requirement?
It’s probably a complete non-event, but I do read this guys monthly newsletter from time to time and he was very upbeat about SGI previously, so I was surprised to see him offload a large chunk.
I believe the sale may be driven by a combination of:
1- Position trimming - As of the October 24 newsletter SGI holding was 8.9% of portfolio
2- A shift of capital to an algorithmic investing approach they’re recently introduced
3- Reduction in fund size - $84M in December 2019 to $26M in October 2024 (the fund hasn’t been performing great since November 2021)
Of course it could be something completely different!
Not sure what's behind this pump for Stealth Global, but I'm here for it!
(That and the orange coin are doing a lot of the heavy lifting for me right now, and lord knows my portfolio needs it.)
I'm mindful that only a relatively small amount of capital has affected this latest rally, and things can always reverse quickly, but my hope is that it's more about others in the market recognising the value prop.