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Brucey I just noticed all the doom and thought you could do with a little lift ; )
Thanks Mark. That sort of ties in with the Q & A from the board stating lending is hopefully to begin later in the Year. Hopefully there is some agreement of how to proceed with lending already drawn up with the FCA ( for them to be even contemplating re-starting ? ) .
I think the company should issue an RNS when Mark buys back in, i noticed the last few days people on here seem to be more interested in that then the issues the company are resolving :)
Mark - not sure where I got that from but glad you still on here and involved . We need a calming influence on here to steady the ship !!
Sounds like you guys had a nice breakfast :)
Have a good evening all :)
Not read it but sounds like a good find Mark - ExPru, as I was saying earlier today: sounds like potential to come to a compromise with the regulator, ie remove the ‘Wonga Scenario’ from the playbook. Amigo won’t go kaput with this outlook, so just a matter of time before some recovery happens. If the compromise means 50% less customers and profit, SP will he say 50% of pre-drop. I’d still take that
Mark
I find that a little two faced in that in some respects they have dealt with Amigo in a similar way to Wonga. Amigo charge 50% and a sub prime credit card would be in same ball park . Yet Amigo had a verbal conversation with Guarantor to confirm understanding. Weird!!
Brucey I’m not yet back in ... but like I said repeatedly over the weekend my opinion of this (as a trade up to 20p) has not changed .... just my view this week!
Not yet Timmy but I will be and as I said opinion hasn’t changed! appetite for risk and timeframe has, but overall opinion this should still be good for 20-30p trade once the vote has taken place ) ...... where we go after that not so sure but that has always and still is my opinion.
You back in now Marky Mark ???
Hope so you’re the best ramper, interesting article Amigo do fit the bill.
I said the markets there, company’s like Amigo thrive in a recession.
Viking it underlines the need for regulation but also points out that low income households still need access to credit and should not be excluded. I think the point he’s driving at is that they shouldn’t be excluded due to over cautious regulation in that area .
Mark - What's this copyright malarky the FT are on about??? Hee Hee
Mark --- Can you give me your opinion of the FT article please? I trust your opinion as i am too tight to subscribe as will probably hardly ever get time to read it.
Mark is back in and done some quality digging for us :)
Good find Mark
WOW - You all need to read this article - Woolard wants lending to low income households to be readliy avaiable as it is NEEDED - AMIGO ALL OVER!!!!!!
From FT article.
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https://www.ft.com/content/1adc2f5a-f9d8-4253-9f61-6e33d669546e
Despite the mortgage and loan repayment “holidays” that the FCA has overseen, he noted that lower-income households still needed to borrow.
“We can see a real difference in terms of impact on the haves and have-nots in this crisis?.?.?. But for the poorest and most vulnerable in society, there is still a demand for credit,” Mr Woolard pointed out.
You have more than me right now then!
I understand @Jimmy
It is hard seeing red right now. I am going further into red!
This does push me to vote JB but to be honest his Tweets worry me!
Today whilst not that nice, wasn't so brutal. Amigo fell in line with average of the FTSE100 and did slightly better than the FTSE 250 average.
Obviously the last 5 days in aggregate don't make for beautiful reading but chin up folks.
@sunsetter brainless bless your cotton socks my friend
Sunsetsupper me ole mucker !!! Where you been hiding!
It’s been a nasty day pretty much all round only a few shares escaped itsagame!
today feels like march when Akman made a killing shorting the market.
most of my entire watch list containing most sectors down 7-9% today
Syme is only a quick in and out trade imo. Far too many shares in issue, vela looks better in that low price/mcap arena and today’s drop was due to the warrants hitting the market. But too be honest it’s been pretty brutal out there today and I don’t foresee much better this week! This may be a good time to start buying some blue chips with a long term view .....
I am invested FB and of course I want it to rise. I also think it will, but it's not a share for anyone wanting a quick, guaranteed or substantial rise.
I think it collapsed because of longstanding flaws in the business model exacerbated by JB's social media antics. I always said I didn't think the end of JB's sell off was guaranteed to prompt a rise. I think JB's irrevocable buy order has massive hoops to jump through before it starts. And I don't think it's particularly generous to buy at market rate with a cap of 20p.
In my view, the fundamentals are there for a steady rise, but this isn't a billion pound business. Possibly not even a £500m business. We need new news to prompt a rise, such as lending restarting under safer lending criteria, which means it'll be smaller - perhaps it'll serve 100,000 customers a year instead of over 200,000. SP should improve again when the FCA investigation is complete and when complaints are dealt with - but I think those are 12-24 months away. Significant bumps and barriers along the way.
If JB wins, which would seem to mean the emphasis would shift to unregulated lending, I'll be selling up.