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Oh dear.....
A lot of people loaded up in Feb when the shares were 14p. Some will have sold some averaged down. This share started the year at 60p and apart from complaints not much has changed. First they need to report on complaints and then if a dividend will be paid. With summer here loan demand must be high and no Provident or Loan at home demand will be high. I think they will earn gross profit of at least £15 million as no digital loss. Don’t know what complaints will cost. 1st half they were 10200 and second half were 7300 so they fell just the cost went up of dealing with them. We shall soon know by end of the month latest
Not at all most of the points you raise are incorrect.
There will always be a specific requirement for short term loans
The companies offering these loans have diminished
Morses offer a more specific loan offering and will potentially take a bigger chunks of the market as others go bust
The first spike will short term sellers go then if we get profitable for the online offering then the price will carry on going up
I agree and the only saving grace will be dividends, the business is priced for administration and hopefully there will be good news next trading update.
robizm
Even if you're right MCL is probably finished as an investment for three reasons:
First, any increase in SP will allow holders to get out. Second, the business model is a hostage to regulation. And third, it falls foul of ESG investement because high cost credit is socially unattractive and its reputation is likely to decline further during recession. I hold and am likely to fall into the first category should there be any good news.
robizm
Even if you're right MCL is probably finished as an investment for three reasons:
First, any increase in SP will allow holders to get out. Second, the business model is a hostage to regulation. And third, it falls foul of ESG investement because high cost credit is socially unattractive and its reputation is likely to decline further during recession. I hold and am likely to fall into the first category should there be any good news.
The FCA will do nothing. They can’t change as countless companies have gone under. Morse are still making money on home credit and online will be profitable for year ending 23. I think complaints this year will drop as 40000 people have made them already. The 6p in the £ provident will pay will make people think it is not worth it. If I was in charge I would ride it out this year and if claims go up then close HCC run down the book and put it in administration when there is not much left putting everything into online where new lending is much stricter and nobody can build up too many loans. I honestly think complaints will drop going forward
One worrying thing right now with this is all the brokers withdrawing their ratings and price targets for this stock. Unsure what to think of it...but quite frustrating that there is now none following. I think Peel might be...but they placed under review still until FCA make clear the route going forward.