We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
MIC Capital Partners loaded 7.84%
https://m.marketscreener.com/AMIGO-HOLDINGS-PLC-44458576/company/
Don't understand why JB is selling down his stake at these prices and also who is buying, it's not PI,s He is not a stupid man and taken at face value is losing millions.......
Just for the record - I am neither a shorter or a ramper - just a plain simple investor impatient for this ting to fly. I'm a holder based on everything everyone has told me - factual based on their skills and expertese and opinion which I happen to agree with - most of the time. I'm a holder and a spreader of the word to anyone I know who invests in the stock market.
Buy and hold this one - it will fly, eventually, but it may take time - anytime from Company reports to JB finally selling out.
Good luck to the buyers and holders!!!
@Greatcrestednewt, that's not my regular strategy. But I do it once in a while. I wish you and other LTHs good luck.
Well parm if that is your trading strategy good for you, i wish you all the luck i the world.
Im a big fan of the charts also but i do like to dig a little deeper before i actually pull the trigger
JB got 8.78p for todays 1%
Goddam autocorrect
Wings = wonga
The reasons the other companies went bust and in assuming you mean wings and the likes is
A. As greatcrestednewt. Just pointed out they didn’t have access to the cash flow that amigo does
B. The claims that they collapsed under the weight of were for loans with upwards of 1000% the compensation claims were collosal due to the high interest charges! We are not in that situation and technically we aren’t even a high interest lender I think we are deemed a medium interest lender by the fca
C The fca originally signed off on the lending criteria and debt charities like step change were also consulted I read somewhere in developing affordability criteria
Yes there was a period when the company it would seem took its eye of the ball but I don’t think it’s going to be as bad as the markets have priced in also I don’t think the buyer having done their due diligence would be approaching JB for his shares if thing were that dire.
@E_AL, thx for that info, do you have information about FCA investigation regarding the Amigo's affordability checks? Related to this -
https://www.bbc.co.uk/news/business-52882272
@Greatcrestednewt, I really didn't know at that time about the fundamentals or JB selling. The reaons for me buying - based on the graph and historical levels, it was very low (around 6 when I saw) an it was rising and quickly jumped in 7 and added some more at 8. I thought it was less risky at those points. I did quick research and realized the risk later. Later they released RNS about FCA extension and the potential increase in dealing with the complaints.
Most views expressed are valid and all nearly all touted outcomes are feasible. I am quite happy to see who is right by mid August with results out and the new Ceo back in charge. Gla
yes other companies do go bust but this one has 136M cash, multiples of the mcap even with provision for complaints. Anyway, hope you find a good entry point.
Definetly. But the fundamentals may shift if the things (complaints, JB sells, when they are going to start loan lending and etc) are not handled well. Hence the risk. It all depends on how much they have to spend to clear the complaints and what % of complaints they have been recieving and whats their strategy to address in reduction of complaints in the future. If their measure impact levels of their income or does it impact the sustainability and etc. On the top of these, the regulatory things with FCA. Other sub-prime lending companies have been closed. Why were they closed if they see there is chance of money making?
@PARM out of interest why did you buy at 8p on the rise last time if you knew there was another month plus of selling to go? Jumling on the band waggon I gather.
Every financial year this company pushes on and improves on the previous year I’m reasonably confident this will be above 25p by the autumn!
“ They halted the loan lending for now which means no new income”
The company made £21m profit in May (COVID-19 period) that’s half the current MCap, it has £136m un cash up in June and access to £500m according to JB
“ The Company's liquidity remains strong. Amigo has sufficient financial headroom and cash on its balance sheet to continue to fund operations and support its customers during this challenging time. Amigo had a cash balance of over £136 million as at 30 June 2020.”
But there in is the key...'the real value'. Sentiment might win todays battle but the fundamentals and true value will always win eventually
I baught it between 7-8 around the big rise. I quickly realised the risks involved with it and sold it around 11.9. Decent profit. I am not going to touch it at this levels. Around the big rise risk was high and the reward was high. But now risk seems to be the same but the reward seems not much due to these factors - They halted the loan lending for now which means no new income, they clearly announced complains cost could be higher than they initially anticipated, new complaints are coming regularly and JB 1% dump every day. These all add to the sentiment irrespective of its real value.
This stock really is the nemesis of my life. After selling out on the last 200% rise with a 20% profit I convinced myself that I wouldn't touch this stock again... Well here I am back in again with a small amount this time.