Shares dropped 20% today
Can anybody advise the reason
RNS Trading Update - A tale of woe
About the Author
Andrew Niven
8 comments
Howard Adams
Some quite heavy director dealing in Mar/Apr might have been an early warning. This is link to Hargreaves Novae (LON:NVA) Director Dealing tab
http://www.hl.co.uk/shares/shares-search-results/n/novae-group-plc-ordinary-112.5p/director-deals
REgards
Howard
Ramridge
Today's Trading update "Pre Year-End Trading Update" is effectively a profit warning. Looks ugly.
gus 1065
Here is the link to the update.
http://www.investegate.co.uk/novae-group-plc--nva-/gnw/novae-group-plc--pre-year-end-trading-update/20161208070006H2737/
I find insurance company reporting pretty opaque at the best of times but agree with Ramridge that it seems to amount to a profit warning. Market certainly thinks so.
Gus.
whitmad
I thought so, managed to get out at 715p by selling early. I read the the book; http://www.stockopedia.com/books/profit-warnings/
peterg
This announcement contains inside information.
Odd remark at the end of the RNS. It's not any more - surely the main point of all RNSs is to make inside information public?
Rusty2
It's insurance, they will suffer larger losses some years, it's the nature of underwriting, I sold out a few weeks ago as shares did not seem to be going anywhere now I'm tempted to buy back in.
It's a good idea to set up alerts in shares you hold so you can see them before the market opens, most are released at 7am.
Soundbuy
Canaccord and RBC notes worth a read, clears up one or two points. Not too sure if able to print part or whole here.
