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- 1 The news of Kelso Group Holdings PLC (KKLSO) having a significant investment in THG PLC (THG) is making the rounds.
- 2 The THG share price has been in an uptrend recently.
London-based investment company Kelso Group Holdings PLC (KKLSO) hopes the company it holds a significant investment in, THG PLC (THG), is likely to be joined in the premium index of the London Stock Exchange. The investment company stated the timeline to buy in the first half of next year. Following the news surfacing, THG’s share price saw a 3% rise.
The special purpose acquisition company, Kelso Group, owns about 8 Million THG shares. It purchased the shares when THG share prices were at 61p. The overall purchase cost £5 Million but given the current price, THG shareholdings of Kelso are worth slightly under £8 Million. The investment saw an increase of over 60%.
Kelso showcased optimism around the progress of THG this year. The British e-commerce company registered positive trading statements.
The investment company anticipates THG to buy back some portion of its equity or debt since a buyback would show the company’s confidence in its operations.
THG Share Price Movement
Except for the recent up move, THG share price remained in a strong downtrend in the longer timeframe. Though the price movements in the last couple of months showcased a bullish trend, THG’s share price would need to attain £117 for confirmation. Post this hurdle, the next target stays at £1.58.
At press time, THG share price has strong support at the base ranging from £40 to £50 price range.
For about a year following its listing at around £610, THG share price even marked its high of £800. However, then the share price started a free fall and has lost a significant value since then.
The share price attempted to attain a £100 price level for quite some time but was unable to hit it. Considering the fact, even if THG share reaches £117, holding the price level would be difficult lest there would be no strong base. If there’s a fall in price reversing the current trend, a consolidation in movement could be expected.
MACD indicates a positive crossover suggesting a mild bullishness in the price. RSI reaches 72 points showcasing THG share price entered the overbought zone. A downside retracement could be expected in the aftermath.
Nothing concrete could be said about the share price movement until it sees anything significant. If the upcoming earnings bring improved financials for the company, this could attract more long-term investors, making the company’s shares less speculative and more reliable.
Currently, THG shares are trading at £97.72, over 40% up in the monthly time frame. The share price has gained over 100% of its value year after year.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
