Lakehouse, the problematical group being turned around by it's CEO, Bob Holt is well known to established Stockopedia readers having been written about quite extensively in 2015/16.

Lakehouse is an asset and energy support services group that constructs, improves, maintains and provides services to homes, schools, public and commercial buildings with a focus on clients in the UK public sector and regulated markets.

Today it issued an RNS http://investegate.co.uk/lakehouse-plc--lake-/rns/press-commentary---hackney-council-letter/201707041837391284K/ in response to press articles relating to the company regarding Hackney Council/Grenfell Tower.

As a result the share price has declined some 14% today and it's quite feasible that further declines in the share price may occur over the next day or two.

So is this a 'Crisis' play? A crisis play is where a share is unreasonably depressed by some sudden negative event, the immediate perceived effect on profits of which is far greater than the real effect anticipated by the crisis investor. The idea is that when a bit more calm returns, investors realise that the share has been oversold and drive the price back up to its more usual level, creating a nice short term profit for the player.

The above 'definition' was supplied to me by Stephen Bland from TMF back in the day (1999 ish) although applicable to much larger companies and dividend paying companies; neither of which can be applied to Lakehouse.

The last thing a crisis player wants is a real crisis and although there will perhaps be much debate and all doom and gloom scenarios postulated about the company, I suspect a few months from now the share price will have recovered.

For now though, I would like to see the share price tank a bit more before taking on an existing struggling company in the midst of a turnaround before I partake of some cheaper shares. If the share price does not decline further then it's of little interest to me.

Now for a bit of annoyance...
Disclosure:
Am not telling you if I own/not own/bought long/short or have any interest in the company. That's private. But if I do chose to to tell you it could be a lie to my own advantage.
Yes, this is Investment advice and/or a spark to encourage debate.
No, I don't care…

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