Next Group PLC – What NEXT? Short or Long?
Jim Musselwhite (August 12th, 2009) Writes:
By Guest Author: Andy Richardson (http://www.financial-spread-betting.com)
Most traders who I spoke to about 12 months ago were forecasting a gloomy future ahead for the UK clothing retail giants such as Next Group PLC, Debenhams or Marks & Spencer.
Let’s take the case of Next Group PLC. Although the recession was not full blown at the time, fierce competition, poor stock (clothes), the inevitable Credit Crunch and decrease in profits added up to a bearish stock. At around £8 to £9 at the time many were predicting a sub £6 by Christmas.
Here we are now and they were correct except the share price of course which has risen more than 100% now. Anyone who has opened short spread betting positions on Next must be licking their wounds by now. So what has really changed?
For one the economic outlook still looks really bad, as well as unemployment there is …
Andy Richardson, Brief Author, Cfds, Christmas, Debenhams, Debenhams or Marks & Spencer, food, Gbp, HTML, Marks & Spencer;, Next, Next Group PLC, retail, retail giants, retail items;, Short;, shorting, spread betting, traders, Trading Lessons, United Kingdom, United States


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