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800K more shares sold then bought today, spread now thinner again after the 1% wasn’t before.
This is rinse and repeat, daily and weekly - I predict it will go lower before going up.
A MM and day traders dream!
Everywhere the same when when SP goes up many excited people are romping and on opposite, when SP goes down all derampers are making input...
Of course I can be wrong but as I see charts SP shouldn't go further down, even more if bears will have no power to push SP further down we may see again some spike on Monday, it may start today...
Last time the drop hit 9.44p Bottom then went to 15.05p the next day.
Apologies xel123 for calling you something based on a few posts but from what I’ve read that’s how they’ve come across. There are many new investors who aren’t savvy or clued up who rely on these BB to make decisions or get some advice (rightly or wrongly so).
"RP - There are certainly fair points and that's why I have mentioned compensation may go up to even 300%"... your analysis is fair, but my point was that it could easily be higher than even that.
how low can it go?
Shezer,
Fair points .
RP - There are certainly fair points and that's why I have mentioned compensation may go up to even 300%.
FAZ41 - I never ever mentioned that the share price will go to 5p or 50p and that's not my style. It was a basic calculation based on the figures available in public domain and no one challenged these numbers so far . Please read my previous post and see whether you can find any price suggestions from me. Its not fair you call someone as a ramper when its clearly not.
Good Luck all
@RP well balanced and informative post. That’s what we need here and not ramping for the sake of it.
Thing is about the complaints, is that could still be low ball. As of Q3 they'd provisioned £26.6m and used £7.9m. The remaining £18.7m was meant to provide for all expected complaints from historic lending. We know that just the backlog as of June 8 was £35m "and could be materially higher". That's just the backlog. So that doesn't include what's already been paid out during Q4. It doesn't include what's in the pipeline, but not over the 8 weeks FOS limit (presumably at least an equivalent amount). It doesn't include provision for complaints still to be received, the rate of which seems to be continuing to increase, particularly now that CMCs are circling. Finally, there's the danger that they're found to have a systemic issue, and have to proactively offer redress to all affected customers rather than just those that actively complain (a la PPI).
Complaints has potential to be huge here. Remember only 1 company put in an offer after DD, out of supposedly a load that put in indicative offers above the share price in the early stages of the sales process.
JohnHenry please enlighten us.
JhonH
Thank you for answering the question :))
Faz41,
Anything else you have to suggest otherwise ??
Thanks
Faz41 incorrect as usual, may i suggest you research why the bidder pulled out.
And why the Bidder recently approached Richmond to buy their stock.
These are the 3 most powerful things that I see in life.
3. Knowledge
2. Wealth as it can buy knowledge and the top
1. Craziness - as no one who’s knowable or wealthy wants to take on.
Now some people have all 3... I think that’s the case with AMGO. It could go ANYWHERE.
@xel123 interested to know how you’ve come to those figures and that conclusion!! Which company in their right mind will even consider touching the book even with a 20% discount. They won’t risk taking on the liabilities hence why the previous buyer pulled out.
Sherer,
Appreciate your comment . I'm not saying this will go to 5/10/15/20/30 or 50P. Just a calculation based on the figures available in the public domain. As I said correct me if i'm wrong and i'm more than happy to accept it.
By the way , you said "there's quite a few other people in front of you in that Q!
Can you please share with us who these people are.
All the best
Hillman1987 ,
Yeah agreed. But we seen how it went from 5p to 19p with in 2 days so the value is certainly there and we just need positive market sentiment on this.
What do you think about the numbers and calculations I have done ?
I got a tip about MARS from someone who works in the industry and watches this kind of share. Up nearly 5% today.
If the FCA tells Amigo to stop lending completely and wind down the company...
Cash as at now £136Mil and by end of this month will be about £150Mil
Lets say current compensation payments gone up by 300% which will be £105Mil (35*3)
We still got £45Mil (150-105) which is today's market cap.
Amigo's debt is around £450Million
Amigo's Loan book is around £650-700 Million
lets say we sell the loan book to with 20% discount . That's makes us £520-560Million
That's leave £70-110 Million (520/560 - 450)
So the total share holders value will be £120-160 (£50mil + 70/110)
This will gives us 3 times of the current share price which will be about 30P
All my own opinion and correct me if I'm wrong
All the best