May 8, 2026 · 36 min
Paul Scott revisits a disputed Novacyte market move
Paul's Podcast - Fri 8 May 2026
The episode shows how quickly a stock-market discussion can turn on correcting a single reported figure.
- 1Paul Scott frames the episode around UK small- and mid-cap stock picking.
- 2A subscriber challenges the previously reported 40% rise in Novacyte.
- 3Scott reiterates that the discussion reflects personal opinions, not investment advice.
Don't miss
Paul Scott addresses a subscriber’s correction to the previously reported 40% rise in Novacyte.
The brief
Paul Scott opens the Friday episode by setting its scope: UK small- and mid-cap stock picking, with the discussion framed as personal opinion rather than investment advice.
The first substantive turn is a subscriber correction about the previously reported 40% rise in Novacyte, putting the reliability of the figure under scrutiny.
The exchange illustrates a basic discipline of market commentary: before debating a stock’s significance, establish that the underlying move has been reported accurately.
What was said on this episode
34 statements · 22 positive · 8 negative · 1 mixed · 3 neutral
The hantavirus outbreak currently does not appear likely to become another pandemic.
“it currently doesn't look like that, but we'll see”
Listen at 1:01
The Works may benefit from the proposed closure of 150 former WHSmith stores.
“This might benefit from the closure the mooted closure of 150 of the old WHSmith stores”
Listen at 2:24
Input costs and inflation are entering a temporarily elevated period.
“we're definitely coming into a period of more elevated costs and temporarily, hopefully, higher inflation”
Listen at 3:51
Companies that previously passed on higher costs will probably do so again.
“The companies that dealt with it with aplomb last time will probably deal with it with aplomb this time”
Listen at 4:08
The incoming IG Design CEO’s large share purchase is a strong positive signal.
“that to me is a very, very strong message”
Listen at 5:28
IG Design Group appears to be an attractive turnaround opportunity.
“IG Design looks a nice turnaround”
Listen at 7:08
IG Design Group is an interesting trading opportunity.
“this looks a very interesting little trade”
Listen at 8:38
The Nasdaq is approaching bubble territory.
“I think it's looking in bubble territory”
Listen at 8:51
Paul Scott is considering shorting the Nasdaq 100.
“I'm itching to short the NASDAQ 100 again”
Listen at 9:43
The Nasdaq 100 had risen 28% over roughly six weeks.
“the whole of the NASDAQ 100 up 28%”
Listen at 9:56
CML Microsystems is an interesting speculative trade.
“I think it's actually quite an interesting trade, this one”
Listen at 12:57
Paul Scott evaluates S4 Capital negatively.
“I don't rate this at all”
Listen at 13:39
Paul Scott’s team views Ten Lifestyle Group favorably.
“we quite like Ten Lifestyle Group”
Listen at 14:54
Brave Bison Group is attractively valued.
“We think it's good value”
Listen at 15:22
Hardide’s fourfold share-price rise is justified by contract wins and forecast increases.
“I think that's actually justified from the contract wins and the forecast increases”
Listen at 16:01
Hvivo is viewed favorably as an investment.
“we do like that one”
Listen at 16:32
Filtronic is currently detached from conventional valuation metrics.
“it's totally detached from, from conventional valuation metrics at the moment”
Listen at 17:35
IAG’s mild profit warning is not considered disastrous.
“we didn't see it as being a disaster, basically”
Listen at 22:19
Paul Scott remains comfortable holding Gulf Marine Services.
“I'm very comfortable with GMS”
Listen at 25:02
Colfax is the strongest investment idea discussed that day.
“Probably the best, uh, green of the day”
Listen at 25:15
Colfax delivered a very favorable trading update.
“What a lovely update from this today”
Listen at 25:25
Colfax has net cash equal to approximately one-third of its market capitalization.
“it's very, very good. You've got a third of the market cap in net cash at Colfax”
Listen at 26:48
Paul Scott upgraded Colfax’s investment rating from amber-green to green.
“So we've moved it up from amber-green to green”
Listen at 27:10
Airtel Africa is difficult for the team to value.
“we struggle to to value it”
Listen at 28:04
Airtel Africa is difficult to value and receives a neutral assessment.
“we struggle to to value it. So we're just amber on that, which just means neutral”
Listen at 28:04
Rightmove is effectively a UK property-listing monopoly.
“I think, um, it's a more or less a monopoly”
Listen at 29:05
AI has not yet materially disrupted Rightmove’s business.
“AI hasn't, hasn't scratched the surface on, on, on this at all”
Listen at 29:27
Rightmove and Auto Trader have strong defenses against AI disruption.
“I think Rightmove and AutoTrader in particular have got, uh, quite, um, quite, quite good defensive moats there actually”
Listen at 29:58
Rightmove is potentially interesting but not cheap enough to buy at £4.22.
“I think it's potentially interesting at £4.22, but not cheap enough for me to want to buy any”
Listen at 30:26
Clarkson’s employee and management bonuses make it uninvestable for Paul Scott.
“the extent of it at Clarkson completely rules it out for me”
Listen at 31:30
Workspace rejects SABRE’s proposed managed wind-down strategy.
“Workspace has rejected that idea”
Listen at 33:04
Workspace trades at a substantial discount to net tangible asset value.
“it's, um, you know, at a thumping great discount to net tangible asset value”
Listen at 33:37
Seraphim Space Investment Trust is considered an interesting investment.
“I think it's very interesting, this one”
Listen at 34:51
Paul Scott does not favor SRT Marine Systems given its track record.
“it's not for me anyway, SRT, given the track record”
Listen at 36:09
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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