“Can’t see any horror stories here, as usual the report is refreshingly candid. They announced another 45p special dividend for January… They also tightened the range for Q4 forecast, as I guess they already have some better visibility.”
Yes, Games, can’t see pretty much anything of significance here, that might rationally change anyone’s outlook - yet the stock is down 6-7%?!
We already knew about the latest 45p special though… and the ongoing buy-backs with the residual “excess” free cash flow, over and above.
It is the way of this market, increasingly - perfectly reasonable figures and/or outlook, and your shares are market down 6%, 7%, maybe more… it’s getting to the stage where, if any of your stocks come out with figures or a trading update and the SP is only hit 3-4%, you are doing cartwheels in the kitchen!
Still, you can read this trend as good news, perhaps… it is the exact opposite of the glass-half-full excessive and accelerating exuberance which often precedes a market crash. So… no wider correction any time soon, then??