STOCKS TO WATCH: Shadowy research outfit Boatman Capital pours cold water on coal comeback as Thungela’s share price soars
When Anglo American spun off its coal arm to form Thungela Resources last June, no one could have predicted that the taboo energy source would make a comeback.
Thungela’s stock has rocketed from £1.11 at its debut to £12.60 now, valuing it at £1.7billion as coal prices soar.
But Boatman Capital – the shadowy research outfit best known for its attacks on Babcock – has told investors not to get excited.
Comeback: Thungela’s stock has rocketed from £1.11 at its debut to £12.60 now, valuing it at £1.7billion as coal prices soar
Boatman took aim at Thungela last year, arguing that its environmental liabilities could be far above estimates.
Now it declares it doesn’t think ‘these ‘good times’ will last for Thungela’.
It said: ‘Perhaps shareholders should be encouraging Thungela to put aside any windfall profits from 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-spouting institutional investors agree.’
Wise hoping to dazzle City with maiden figures
Money transfer behemoth Wise will be hoping to dazzle the City with the release of its maiden full-year figures on Tuesday.
Despite its stunning debut in the UK’s biggest ever tech listing last July – which stood in stark contrast to Deliveroo’s flop – the momentum has since fizzled.
Valued at £9billion at its float, it is now worth just £3.9billion. Founded in 2011 by wealthy Estonian businessmen Taavet Hinrikus and Kristo Kaarmann, it seemed a safe bet after carving out a niche in the crowded fintech arena.
Wise is expected to report profits of £78.3million for 2021, up from £41million in 2020.
But analysts have yet to be wholly convinced of the outlook. Citigroup reiterated a ‘sell’ rating last week.
Parsley Box’s departed co-founders flexing muscles
Parsley Box shares are hovering near a record low as the cost-of-living crisis sends shockwaves through the food industry.
But departed co-founders Gordon and Adrienne MacAulay are wasting no time flexing their entrepreneurial muscles.
The husband-and-wife duo founded the ready-made dinners and desserts provider in 2017 when they couldn’t find a meal delivery service for Gordon’s elderly mother.
But Gordon left last year and Adrienne left her chief product officer role this spring.
Her LinkedIn profile says her current role is ‘taking a break’.
But the Scottish pair this month registered a new firm that is expected to focus on cosmetics called A Natural Fix.
Onwards and upwards.
Investors go cold on Chill Brands
Cannabis products group Chill Brands was given the cold shoulder by investors earlier this month when a £484,000 fundraising plan raised a measly £212,000.
There was no mention of its high-profile backer – Stagecoach co-founder Dame Ann Gloag – who put money into a £3.5million round in April.
And this week’s news that it is ploughing cash into a ‘visual refresh’ including buying the chill.com web domain was met with little fanfare.