Small Cap Value Report (Mon 1 Aug 2022) - FLO, BUMP, JNEO, BLV, XPP
Good morning from Paul amp; Graham!
Weekend podcast - the latest edition, I recorded on Saturday. You can add this to your podcast platform, by putting in the URL. A listener suggested this, and it works on Google Podcasts, and should on others. This one was a bit too long, rather rambling, apologies, I'll try to stick to 30 mins total in future. If you're short of time, then skip the first 18.25 minutes, to get into the individual companies part.
Agenda -
Paul's Section:
Seraphine (LON:BUMP) (I hold) - another profit warning, this is the 4th since it listed a year ago! However, I think the disappointments are already in the price, with it having joined the 90% club (down 90% since listing) in just a year, along with a lot of other opportunistic, over-priced floats in 2021. However, the business looks potentially very interesting to me - a long-established niche brand selling high margin, own-designed maternity wear. The experienced new CFO has a lot to sort out (including inventories being far too high), but a positive going concern note suggests the risk of a discounted placing may not be as high as I feared. Risky still, but if the...