Rolls-Royce shows it’s rolling back the years
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CITY WHISPERS: Rolls-Royce is officially ‘down with the kids’ – or at least those who like to rummage the markets
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Rolls-Royce is officially down with the kids – or at least those who like to mess around in the market.
The FTSE 100 engineer was one of only three UK companies to feature on a list of the ‘most held’ stocks by eToro users in 2022. The average age of the investment platform’s clients is 34, putting it on the younger side of the online trading market.
The list of the 20 most held stocks by DIY investors in the UK was, unsurprisingly, dominated by US Big Tech, with a few ‘meme stocks’ like GameStop and AMC Entertainment thrown in for good measure.
‘Out with the kids’: The FTSE 100 engineer was one of only three UK companies to feature on a list of eToro users’ ‘most held’ stocks in 2022
But behind Tesla, Amazon, Apple and the like, Rolls-Royce finished seventh, easyJet ninth and IAG, owner of British Airways, twentieth.
Maybe small investors are desperate for a vacation to support their favorite airlines, but it goes to show that even an oldie in the stock market can still mean you’re a goodie.
Cheer for Nanoco shareholders
Nanoco shareholders celebrated a settlement with Samsung last week, just before a David and Goliath-style trial was about to begin in a Texas court.
Manchester-based Nanoco had alleged that Samsung stole its QLED technology used to make colors on TV screens richer.
Executives had already flown to the Lone Star state when the settlement was announced.
The lawsuit may be out, but the jury is still out on whether executives used the time to buy festive Stetsons and cowboy boots…
Things are getting exciting at Chill Brands
Things are far from calm for cannabis company Chill Brands after it started legal proceedings in a US court in early December.
The lawsuit was filed against former chief commercial officer Michael Sandore, who Chill alleges represented himself as Chill’s CEO on Twitter before being fired and later went on to work for a competitor.
She argues that this violated a non-compete clause.
He is also said to have made ‘disparaging’ remarks to the then bosses of the group. Sandore disputes the claims. Chill made the case last month in its half-year results which showed the company, backed by Stagecoach co-founder Dame Ann Gloag, had made a loss of £2.2 million in the six months to September 30. Not an ideal time to pay legal fees.
SSP could be on track to rattle shareholders
Could SSP, which owns Upper Crust and Ritazza, be on track to once again piss off shareholders at its next annual meeting?
The annual report, released last week, showed CEO Patrick Coveney to receive £1.1 million in 2022. This is far more than the £800,000 his predecessor Simon Smith received in 2021.
That package sparked an uprising with more than 20 percent of votes cast voting against high pay — a pushback enough to put SSP on the Investment Association’s naughty list.
At the time, the company was ravaged by the pandemic, so Coveney’s fee may be better received on February 16 — though the board may be bracing for a kick, just in case.