Mr. Market has been in a real punishing mood lately, and has not been afraid of clobbering even the largest companies.
Scanning Hargreaves Lansdown’s Biggest Fallers list, I see that construction and engineering company CLLN (Carillion) is down 13.6% to 41.7p. Stockopedia classifies it as a value trap, and gives it a momentum score of 0. A company must have done something seriously wrong to warrant a momentum score like that.
There doesn’t appear to be any news issues today, so I’m not clear what the fuss is about. However, I notice that yesterday they issued a statement saying that they will issue a trading update on the interims on 29 Sep 2017. That’s a Friday, the last day of the month. Last year, they issued the interims on 24 Aug 2016, more than a month earlier. There is one big implication to this, in my view: you ain’t gonna like what you’ll read.
Brace for impact.