On the last day of February we looked back at the state of Games Workshop stock price and general health. GW for a moment seemed on firm downward trend, even after the dramatic drop in stock price back in January. Since March one major event took placed seemingly changing the course of the stock... at least for now.
Before we get to that singular change, we can still report Tom Kirby continues to juggle Chairman and CEO duties, and the Chapterhouse case has GW dragging their feet as the appeals process rolls on.
Now with a good amount of breathing room since the January stock swoon, what has happened to the stock price?
As you can see things hit rock bottom on March 3rd when the stock dropped to a low of 476, since then the stock has rebound about 15%! What can cause such an increase. Well for starters, stocks is always a marathon not a sprint ,so unless you are daytrader these kind of fluctuations shouldn't be much cause for concern or adulation. This could be a simple case of profit taking for many investors, thinking the stock is undervalued for whatever reason.
Something big though did happen on March 7th. Nomad Investment Partnership LP, the biggest GW shareholder divested themselves, now this wasn't a sell off, but a block trade from what I can gather. Anyway, Nomad's stocks was gobbled up by a cadre of shareholders lead by a new group Legal and General Group plc who took 5% of the 9% Nomad once owned.
The result on the stock since March 7th has been...
As you can see Nomad leaving has helped stabilized GW's stock in the short term, going up over 6% since March 7th.
It should also be noted, Nomad was one odd investment LP having no contact information or website, and seemed most likely a front for rich people who rather stay anonymous.
As it is, Games Workshop stock seems content to float around 500-550 for the time being. I wouldn't expect much more action until we get the next financial release or if something catastrophic happens in the Chapterhouse case.
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