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Board full of shorters beware
Oh but what a month it would be!
a part of me hopes they dont go to £1 .., i’ll be like the wolf of wall st , and be dead within the month ??
that’s a very good point , if these complaints are upheld by the FCA , they are opening the biggest can of worms . A blind man could see this
If you think the affordability issues are a problem at Amigo then look at the bigger market picture, going by the ludicrous examples that JB posted on twitter technically every single person who has claimed for loan / mortgage / car finance / overdraft relief due to covid, loss of employment, etc and anyone who put that they earn more, didnt state all their debts, have more outgoings, etc etc on the application form would fall in to one of the unaffordable boxes and be due a refund from every bank and fiance provider going.
FCA / FOS have created a real risk to the whole finance industry and as a consequence of the precedent made from their decisions here, every person should technically be able to claim back all the interest that they have paid (plus 8%) for all borrowing that they have ever made from all banks, building societies, credit cards, store credit etc.
Decisions made here if upheld go beyond our little Amigo.
The only thing of relevance here is the claims, if they can’t stem these then we’re finished. The board needs to act quickly otherwise we will be overrun by the claims management companies before we can do anything about it.
If the update says this has happened then £1 is a no brainier, it if the claims management companies have won over we’ll have an update that has further provisions, that could go on increasing until they run out of cash
timmycoles
the long term holders/believers including myself consider the following to be positives:
- JB rejecting a previous offer for the company at 20.9p (says he values the company around 100p)
- increase in cash position from 115million to 136 million in a month or so (with a likely increase on that position by the time the annual report comes out)
- the agreed FCA extension till october on the claims issue which we think will be resolved (rather costly but not fatal to the company)
- the new CEO, who is also backed by JB
- the fact that most pieces of bad news are known to the market and anything new/positive will likely drive the price up (like the revelation on who's been buying the 1%, or a potential bid coming any time as the founder's control declines)
One might argue at this price and hence the daily volumes it attracts that he is no longer 'dumping' his holding and merely drip feeding them into the market. Very happy to load up at these prices. Best wishes everyone whatever you decide to do.
Complaining about affordability does not effect Credit History.
That's fair enough but....
....Complainants are going to have a terrible time trying to get a loan for e.g. Christmas.
Has this been explained to them ?
James Benamor
@JamesBenamor
·
8 Jul
However, our faith in Glen is very strong, and once we are sure that Stephan Wilcke and Roger Lovering have left the board, we would see a strong possibility that we will reinvest into Amigo and play a part in the turnaround.
Good explanation, so you have got a clue why this is a good buy.
I’m not talking garbage just asking a question?.
I did dip in and made money, and probably will again.
But long term I wonder if it was me missing something, I’m questing not as no one can answer me ?
Share chat is not just to hype a share up surely ? Aren’t we all trying to help each other figure out if this is a good buy to save getting into something dangerous.
So I’ve have to reply to myself on this one, plenty of jokers chatting garbage , but I get no one reply to the one question that’s put off all major investors.
You guy might as well lump on red on the roulette.
Please someone tell me how this is a buy long term.
I understand the dead cat bounce, picking up some profit and dumping.
Type in google mis-sold guarantor loans, see how many companies come up, I will tell you a lot, unfortunately in my opinion people will take advantage wether they were mis-sold or not.
Amigo have a 88% share of the guarantor market, there going to have claims going on for years.
I’m looking to invest I can see It jumping to 20 , but what’s beyond that?? am I missing something???