It is the end of report season. Two months after New Year the report season goes towards the end. Companies listed on the different share markets must report within two months and for small companies with only a few employees the report often comes close to the last minute – in this case the last two weeks of February. Some companies choose to close their books on another date than New Year and of course, their reports turn up differently.
The only company in my growth share portfolio not following the calendar rhythm is Phase Holographic, who reports Q3 on March 30th.
A week ago, I posted an update on A1M Pharma, IVISYS, Nexam Chemical, and AroCell – and prior on Fortnox. This week it is Photocat, G5 Entertainment, Dignitana, Recyctec, CybAero, and Heliospectra. This week there is just one winner: Heliospectra. For Recyctec and CybAero Friday was blood red after the reports. Let’s take them one at a time: Continue reading →
Four reports came the past week: IVISYS on Monday, AroCell on Tuesday, Nexam on Thursday, and A1M Pharma on Friday. None of the reports contained large surprises – and for three of them turnover was – as expected none or very close to no turnover. In my post prior to the report season I predicted that Nexam could be a winner after the report, if sales went up in Q4.
Judged by the share price, the market liked the report of A1M Pharma – and disliked the reports from IVISYS – and Nexam.
If I compare the share prices on the two Fridays 12th and 19th, the effects of the reports are visible. During the week, the OMXSPI (Broad Stockholm Index) went up 5.6 %. Compared to that A1M Pharma went up 9.4 % and came out as a winner. AroCell went 2.8 % up – up less than the market. Nexam went down 6.2 % after the report and IVISYS 8.5 %.
In my investments in growth shares, I operate with different position sizes: small positions on my ‘observation list’ – this is companies far away from the market. A1M Pharma is one, Cantargia another. In companies closer to market, I take larger positions. This year both Nexam and Heliospectra are companies were I plan to enlarge my position, since my judgement is that they will get a breakthrough on their markets during this year. Prior to the report, I bought more shares in Nexam, but on the short term, it was the wrong moment. A few words on the individual reports: Continue reading →
February 9th Fortnox published the year-end report and the 10th the CEO, Sara Arildsson, left the company. The official reason for her departure was differences in views on ‘management and strategic direction’. In many respects, the report was good, but from Wednesday morning (10th) to Thursday afternoon, the share dropped 8.9 %. In the same timespan, OMXSPI went up, so the departure of Sara Arildsson, recruited in October 2014, was perceived by the market as negative. Continue reading →
During January, I have on two occasions dealt with the share price development. The month have been really volatile with huge shifts in share price changing one winner one week to a looser the next. During the first half of the month the portfolio performance was above average, but in the latter below.
In this month, one share has lost a third of its value, two shares a quarter of the value and one a fifth. On an equal weight basis, the portfolio is down 9.6 % – compared to the 7.1 % of the broad Stockholm index (SPI). Continue reading →