Both on Friday and today shares in Cake Box (CBOX) have fallen sharply. When Maynard Paton and this website first raised questions about the accounts and other matters just three weeks ago the stock was 325p. It is now 180p. So what is going on?
Today we were told that the COO of Cake Box (CBOX) had bought £50,000 of shares yesterday. Compared to the £10.5 million dump by his boss in November it is peanuts. Showing rather poor form, Dr Jaswir Singh made the purchase BEFORE rather than AFTER the company put out a weedy and patronising RNS trying to refute the bear case as explained HERE on Sunday. Surely the good Dr was aware that a refutation was coming and thus had price sensitive information? While Dr Singh was dealing like a dervish, Lucian Miers went to visit the franchise stores in Eastleigh and Southampton. The photo below is from Eastleigh.
Earlier this month-announced half-year results from egg-free cakes retailer Cake Box Holdings (CBOX) included CEO Sukh Chamdal stating “I'm delighted to report another strong performance… it's clear that our unique customer proposition remains highly attractive… we look ahead with confidence”. Now a shares transaction from Sukh Chamdal. Good news?...
Almost 13 months ago I observed about Cake Box (CBOX) that ‘all I have to do to complete my due diligence is…eat one of its cakes’. For a couple of reasons it did not happen, but the shares are up 4% today and up by more than 120% during the last year. That is far from shabby! But how do I feel now about the ‘Eggfree Cake’ company, where ‘having an egg free, fresh cream, celebration cake is as easy as 1,2… that’s it’?
A “Statement re Share Price Movement”-titled announcement from cakes retailer Cake Box Holdings (CBOX). That share price movement has recently been downward – from above 330p early this month to a last close 288p. With this statement also at an intra-day 10:49am, I somehow don’t expect it to be good news!...
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