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[Squideye]

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[DeltaHedge]

Interesting valuation of R1,08 based on your analysis of the current Financials. Personally, I find it impossible to fully trust the financials of any company, considering that’s exactly how SNH got into this current predicament.

What I do trust, is my technical analysis and it says that after this correction is over or is indeed over at 430, we still need one more swing higher to complete the sequence from 194.

My question to you would be, are you prepared to short this share from here, based on your valuation and trading strategy?

I think it's a great trading share with bias upwards for now. Everything is based on their news obviously. I have a core position and want to get a secondary position that I trade

[KP7]

I wonder in SNH is going to fly monday another 30%?

In my debt settlement calculation I thought that SNH would get Eur1,85 bil for the 50% but with a equity of $77 mil not sure they will even get the Eur 58 mil that is in the books of last financials!

Therefore my share price target of R1,08 is very much in line if not in the high side!

 

Interesting valuation of R1,08 based on your analysis of the current Financials. Personally, I find it impossible to fully trust the financials of any company, considering that’s exactly how SNH got into this current predicament.

 

What I do trust, is my technical analysis and it says that after this correction is over or is indeed over at 430, we still need one more swing higher to complete the sequence from 194.

 

My question to you would be, are you prepared to short this share from here, based on your valuation and trading strategy?

[DeltaHedge]

I wonder in SNH is going to fly monday another 30%?

In my debt settlement calculation I thought that SNH would get Eur1,85 bil for the 50% but with a equity of $77 mil not sure they will even get the Eur 58 mil that is in the books of last financials!

Therefore my share price target of R1,08 is very much in line if not in the high side!

I hear you and I think your analysis is sound but we know markets discount the future , not what is now. Look at tesla , its not worth the price tag now but will it in the future, who knows.

I appreciate your math and analysis but I have been fucked so many times on being theoretical and all - another example AMC.

Maybe we will all burn and you will be right but let's wait for a couple months more and see what the other analysts say. I think there will be more and more voice in stenies as we go

[DayTraderDad]

I wonder in SNH is going to fly monday another 30%?

In my debt settlement calculation I thought that SNH would get Eur1,85 bil for the 50% but with a equity of $77 mil not sure they will even get the Eur 58 mil that is in the books of last financials!

Therefore my share price target of R1,08 is very much in line if not in the high side!

[DayTraderDad]

Steinies shall rise !

How do you see that when tbey created debt to pay dividends, see insert ftom propectus:

On September 24, 2021, our operating subsidiary, Mattress Firm, Inc. (the “Borrower”), entered into a new term credit agreement by and among our indirect wholly-owned subsidiary, Mattress Holding Corp. (“Holdings”), Barclays Bank PLC, as administrative agent, and the other financial institutions parties thereto from time to time as lenders (as amended, restated, modified or supplemented, the “2021 Term Loan”), in an aggregate principal amount of $1,250 million, which matures on September 24, 2028. The proceeds of the 2021 Term Loan were used, together with $665 million of available cash on hand, to:

•

pay $523 million to satisfy all obligations and terminate all commitments under the Borrower’s existing term and asset-based revolving credit agreements, both dated as of November 25, 2020;

​

•

make distributions and other payments of $1,350 million in aggregate to existing stockholders, current and former management and certain of our non-employee directors (see “Executive Compensation—Compensation Discussion and Analysis—Elements of Executive Officer Compensation—Additional Discretionary Bonuses” and “ Executive Compensation—​Compensation of Directors”); and

​

•

the remaining $42 million was primarily used to pay related fees, costs and expenses in connection with the execution of 2021 Term Loan and related matters.

​

The Borrower may elect that the 2021 Term Loan bear interest at a rate per annum equal to either (i) a base rate (determined by reference to the highest of (a) the prime rate published by the Wall Street Journal, ( the greater of (1) the federal funds effective rate and (2) the overnight bank funding rate,

 

[DayTraderDad]

Weekend reading @ https://www.sec.gov/...27589-13_s1.htm

Thanks, unbelievable a Equity of $77 mil in Sept 2021, another unit full of debt!! I hope I made a mistake but if its true thrn not good news at all.

Interesting to hear the comments of accountant in the forum!

[DeltaHedge]

Steinies shall rise !

[Squideye]

Weekend reading @ https://www.sec.gov/...27589-13_s1.htm

[Squideye]

https://markets.busi...ring-1031088609

[Squideye]

Mattress Firm, Heavily in Debt, Files for an IPO.

 

Mattress Firm made public the prospectus for its initial public offering Friday. The Houston-based retailer emerged from bankruptcy more than three years ago.

 

The company is seeking to raise $100 million, a prospectus said. The company didn’t disclose how many shares it would offer or their price range. That will come with future filings. The $100 million is also considered a placeholder that will change with more information.

 

Mattress Firm plans to trade on the New York Stock Exchange under the ticker MFRM.

 

Mattress Firm filed confidentially for the IPO in September. Goldman Sachs, Barclays, and Jefferies are lead underwriters on the deal. 

 

Founded in 1986, Mattress Firm is a bedding retailer that sells mattresses, frames, pillows, and dog beds through its 2,353 bricks-and-mortar stores. The company also sells products on digital platforms MattressFirm.com and Sleep.com. Mattress Firm said it is the leading retailer of brands including Tempur-Pedic, Serta, Sealy, Purple, Stearns & Foster, and Beautyrest. 

 

Steinhoff International Holdings  acquired Mattress Firm in 2016 for $3.8 billion. Mattress Firm sought Chapter 11 bankruptcy protection in October 2018 when it had more than 3,200 stores. It emerged from bankruptcy a month later with approximately 2,600 stores. 

 

The retailer is the latest company to seek an IPO after emerging from bankruptcy protection. Rental car company Hertz Global Holding s (ticker: HTZ) uplisted its shares to the Nasdaq in November after exiting Chapter 11 in June.

 

Mattress Firm remains significantly leveraged. As of Sept. 28, total liabilities stood at roughly $3.5 billion while net long-term debt was about $1.2 billion, according to the prospectus. In September, the retailer paid out a $1.2 billion dividend to its common stockholders, which include Steinhoff, the prospectus said. 

 

Steinhoff Group, which has been embroiled in an accounting scandal, also has substantial debt, is highly leveraged, and is involved in various disputes and legal proceedings, the prospectus said.

 

Mattress Firm won’t receive any proceeds from the IPO. Shareholders, including Steinhoff, are selling stock in the company. The prospectus didn’t detail how much of the company Steinhoff currently owns. That will also come with future filings. 

 

In March 2020, at the height of the Covid-19 pandemic, Mattress Firm closed about 50% of its stores. It also temporarily furloughed 4,687 field associates and 224 corporate support personnel, the prospectus said. The company isn’t profitable, reporting $165.1 million in losses in fiscal 2021, compared with $125.6 million in profit in 2020. An increase in customer transactions helped Mattress Firm revenue rise nearly 35% to about $4.4 billion in 2021. 

[Squideye]

Get some SENSe 4 the day @ https://www.sharenet...0&seq=22&scode=

[Tiekkie]

Kind of shows you the momentum steinhoff is going and the support its getting. Even with the market manipulators weren't able to get it below 430cents and usually when a dump like yesterday happend it would continue for a week or 2 but this one barely made it a day until its back.

from a technical point of view the share has been making lower highs and is on an uptrend. Has bearly touched the 40 day moving average that is also on a uptrend, I'm going to put SNH under the mattress for now and take it out or retire on it;)

[Snippit]

Steinhoff – SNH, JSE

 

https://el834862649....inhoff-snh-jse/

 

The RSI suggests a top for Primary wave [3]. The alternate view is Intermediate (3). Wave [4] is typically expected to be of similar price action to wave [2], which means it could already be there, except for a non-confirming RSI which ought to be much lower.

 

 

 

 

 

 

Rights and Freedoms

[DayTraderDad]

Short term - I find it easier to think of the market as a blind lazy paranoid bipolar hypertensive schizophrenic alcoholic with an loaded gun.  Logic always returns, after the madness has moved on.

Haha well defined!

[Peanut_Butter]

Kind of shows you the momentum steinhoff is going and the support its getting. Even with the market manipulators weren't able to get it below 430cents and usually when a dump like yesterday happend it would continue for a week or 2 but this one barely made it a day until its back.

[DayTraderDad]

Must have used the wrong calculator yesterday 

Haha yes all we need isfor the debt to forgiven!!

[DayTraderDad]

Nuus waarvoor ons wag: "Shareholders are advised that the Company has commenced negotiations regarding potential amendments to the terms of the Debt and the Forbearance Agreement." 

Good news were can we get the full anouncement?

[KP7]

Must have used the wrong calculator yesterday 

[Squideye]

Nuus waarvoor ons wag: "Shareholders are advised that the Company has commenced negotiations regarding potential amendments to the terms of the Debt and the Forbearance Agreement."