Tuesday, 24 January 2017

Stockbroker LOLZ

From City AM:

Sports Direct has split from three of its brokers, announcing today that Liberum Capital would be its sole broker from hereon.

The controversial retailer's former collection of brokers was made up of City heavyweights Goldman Sachs, Citi and Haitong.

Haitong and Citi are both neutral on the company's shares, while, last May, Goldman Sachs stopped recommending investors snap up shares and then later slashed its full-year profit forecasts.

By contrast, Liberum is one of the few brokers with a “buy” recommendation for the retailer.


Graeme said...

It seems odd to have 3 brokers in the first place, especially if 2 of them don't seem to want to promote your stock

Mark Wadsworth said...

G, at the time they were appointed they were probably recommending SD shares.