Primary Recommendations

Card Factory - Targets “card-attached” market

June 2022

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Card Factory is by far the largest single operator in the greeting card space with just over 1,000 small stores scattered around the country. If the business didn’t exist, chances are you wouldn’t consider recreating it today due to technology changes; during Covid, many of us began to use a simple WhatsApp message to show that we had not forgotten an important date or event and more of us also started ordering personalised greeting cards online using Moonpig (MOON; 251.5p) and WH Smith-owned FunkyPigeon.com, and it’s easy to imagine these are eating Card Factory’s lunch. Moonpig, for instance, says that 50% of the customer cohort acquired during the pandemic still send cards through it. Sending a physical card is also challenge ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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