STOCKS TO WATCH: Boatman blasts Thungela coal return
STOCKS TO WATCH: Shadowy research firm Boatman Capital pours cold water on coal comeback as Thungela’s stock price soars
When Anglo American spun off its coal arm to form Thungela Resources last June, no one could have predicted the taboo energy source would make a comeback.
Thungela’s stock has fallen from £1.11 when it started to £12.60 now, valuing it at £1.7bn as coal prices soar.
But Boatman Capital – the shadowy research firm best known for its attacks on Babcock – told investors not to get upset.
Throwback: Thungela stock has risen from £1.11 when it started to £12.60 now, valuing it at £1.7bn as coal prices soar
Boatman took aim at Thungela last year, arguing that its environmental liabilities could be well above estimates.
Now he says he doesn’t think “those ‘good times’ will last for Thungela”.
He said: “Perhaps shareholders should encourage Thungela to set aside all the windfall profits from the current high prices.”
“These windfall profits could be used to pay for the company’s environmental obligations, which we believe are woefully underfunded.
Let’s see if any of Thungela’s ESG institutional investors agree.
Wise hopes to dazzle City with maiden figures
Money transfer giant Wise hopes to dazzle the city with the release of its first full-year figures on Tuesday.
Despite its stunning debut on the UK’s biggest tech list last July – which contrasted sharply with Deliveroo’s flop – the momentum has since waned.
Valued at £9bn at its float, it is now worth just £3.9bn. Founded in 2011 by wealthy Estonian businessmen Taavet Hinrikus and Kristo Kaarmann, it seemed like a safe bet after carving out a niche in the crowded fintech arena.
Wise is expected to record profits of £78.3m for 2021, up from £41m in 2020.
But analysts are not yet fully convinced of the outlook. Citigroup reiterated a “sell” rating last week.
Late Parsley Box co-founders flex their muscles
Shares of Parsley Box are hovering near an all-time high as the cost of living crisis sends shockwaves through the food industry.
But late co-founders Gordon and Adrienne MacAulay waste no time in being entrepreneurial.
The husband and wife duo founded the ready-to-eat dinner and dessert provider in 2017 when they couldn’t find a meal delivery service for Gordon’s elderly mother.
But Gordon left last year and Adrienne stepped down as chief product officer this spring.
His LinkedIn profile says his current role is “taking a break.”
But the Scottish pair registered a new company this month that is expected to focus on cosmetics called A Natural Fix.
Forward and upward.
Investors mock Chill Brands
Cannabis products group Chill Brands was badly received by investors earlier this month when a £484,000 fundraising scheme raised a meager £212,000.
There was no mention of its high-profile backer – Stagecoach co-founder Dame Ann Gloag – who poured money into a £3.5million round in April.
And this week’s news that it is pumping money into a “visual refresh”, including the purchase of the chill.com web domain, was met with little fanfare.