These two days the stock of Celtic Plc (LON:CCP) is defeated on penalty shootout. This time, not the team of Rangers, but investors of Celtic initiated the game. After a quarter of entirely green uptrend CCP changes the direction suggesting a possible bear market for the stock.
After the spectacular game for the Scottish Cup final on Sunday when Rangers beat Celtic in penalty shootout, the share price of Celtic performs as being crushed by investors on penalty shootout too.
Yesterday, the overall demand on CCP has been equal to almost zero and only 100 shares has been sold. The Scottish stock closed the market at £73 to open today with prevailing “sell” bids.
Since the beginning of the year the share price of Celtic Plc has been only three times in a decline. A huge resale of CCP has been recorded immediately after the Christmas holidays. Then, investors kicked down CCP below the level of £71 to emerge a significant uptrend afterwards.
In February the share price made an attempt to roll done again, but the weak trading volume and positive anticipations towards the stock inspired bids and deals for up to £74.995 per share in the coming days. Although the huge price spike it is hard to say that the stock has been rushed.
As the video about the performance of CCP here presents, the real sprint of Celtic’s stock started in mid-March. In a heavy volume without almost no doubts the share price has been confirmed at £73 per share. Since then it circulates within the range of £73 and £74 per share.
For readers who may say that there is no a correlation between recent performances of the Celtic’s team and the Celtic’s share moves it is good to mention some additional facts which may definitely influence positively or negatively the enactment of CCP in the nearest future.
There are no any official announcements as of today but rumours say that Ronny Deila, Celtic’s manager may vacate his position.
Company’s financial reports may also raise questions about the financial prospects of Celtic Plc. At the year end June 30, 2015, CCP reports net profit of £(3.95)m while for the same period in 2014 the company booked a positive net profit of £11.17m. The Reported Earnings per Share (EPS) in 2014 has been 8.60, while as of the end of the fiscal 2015 the company recorded negative EPS of (4.25).
As an optimistic signal may remain the statement of Celtic’s Chairman done during the first half of this February. In its interim report for the six months ended 31 December 2015 Celtic reports:
- Increased by 0.3% Revenue to £31.4m (2014: £31.3m)
- Net cash at bank of £7.7m (2014: £5.3m)
- Profit before taxes of £11.7m (2014: £6.6m).
The author of this article is not a fan nor shareholder in Celtic Plc and Rangers International Football Club PLC.
The content herein expresses the views of the author and Do Not Intend to inspire special attitudes towards any of the companies, share prices and teams or persons mentioned here.