Halfords (#HFD) – £63.4m equity raise at 320p per share including via PrimaryBid
- 2021-12-02 07:57:12
Back in September I observed about Halfords (HFD) that ‘despite the slowdown in its cycling business, I would buy it sub 310p’, which was about the then share price. Judging by this morning’s just over 310p share price, we are back to about the same level. That is not however to say there has been no changes, after all the stock is up over 10% this morning. Hence Halfords shares have had a rather mixed couple of months before today. So what is going on?
Hello, Share Tweakers. The Iron Man contest, which involves people going to the giddy limit in cycling, running and swimming was called off in our Welsh town because of covid. But it still didn't stop an army of serious-looking cyclists descending on us this month to go through the motions, anyway. And there’s no getting away from it that pedal-pushing is becoming more popular. Cycle tracks are appearing all over our towns and cities as commuters and shoppers move away from smelly old petrol.
I have been a keen cyclist all my life. And even if I am probably too old now to climb the infamous Alpe d'Huez climb in less than an hour, I can still push around my LeMond Buenos Aires carbon road bike at a decent speed. Whilst I could ramble on about the epic Tour of Britain route in Wales later today which I look forward to watching on TV, we need to focus on the investment world and that brings me to Halfords (HFD).