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Roo, considered adding below your initial purchase price? Doing that would lower your weighted average price. My first purchase was around 13.50 I have topped up well below that and yesterday three times on the 11p-range and my weighted average price is now on 9.21 . So 18p would a triple for me instead of 47.4, just an idea, up to you what you want to do.
Nothing wrong with 15p average in time it will be higher
The report also says, that the court sanction is expected 10th May. So plenty of time for top-ups on the lower levels. In the meantime more losses in taxes, but enough substance to sustain and re-start.
Btw, I found an article from 3 years ago. JPM was hired back then examine the potential floating of Amigo on the London Stock Exchange. Now JPM, who was part of doing the initial analysis prior to launch on LSE and therefore will be able to judge the current situation very well, is invested in Amigo. That completely debunks EM88s suggestion that it ... 'could only be a hedge as it happens all the time'.
Here is the link, but be warned, certain names mentioned in there might give some of you flashbacks :-)
https://www.reuters.com/article/uk-amigo-loans-ipo/amigo-loans-hires-jp-morgan-and-rbc-to-prepare-500-million-pound-london-ipo-idUKKCN1GB2I7?edition-redirect=uk
Ha! Yes it’s funny that very few people admit to losing money on this thread. I bought at 15.8p last year so I’m still well down.
To top it off I work for a company whose shares have trebled in past 9 months but I didn’t invest. Yeah what a mug......but Amigo looked so tempting! Doubt I’ll ever triple my 15.8p but I’m going to hold on.
Mouse.. I noticed that. Quite a few come out of the woodwork!
Rooboy, not sure if you noticed the amount of first-time posters on our Amigo board since yesterday? Not invested, have no intention to invest, but they come in here to give us their reason why we shouldn't be invested, or even sell off to be happy about meagre profits or even count our losses. Have they got nothing better to do?
I have added Amigo to my share savings plan, yesterday. The shares these users are apparently invested into are not on the list to chose from for this plan. There you go :-)
Hahaha :D Just read most of the report that got delivered via RNS :D . This is a brilliant read. It says: "Prior to court sanction of the scheme...". It doesn't say 'decision' it says 'sanction'. To sanction something to give the 'ok', or not?
I love what GJ wrote, mainly the bit about that Amigo plays an important role to all those who are deemed as untouchable by mainstream lenders. Nicely cut, Mr GJ :-) and then later they actually explain in some detail how much in taxes have been lost so far and that based on a loss of revenue of 'only' 35.9% so not even what would be lost had it been full throttle but they're saying it through a flower-bouquet :-). You have got love this team. Amigo is in the best hands imo.
It moves so quickly I think you’d miss the boat if waited for announcements on SOA and re-lending. It will likely be a random RNS that triggers it and I’d rather be in now then try and anticipate when good news likely to hit and buy after the horse has bolted.
I think it will resume on an upward path after today. It’s only gone down with people cashing in on gains maybe expecting a greater announcement with the results. I wasn’t expecting anything with the results, pretty predictable. Would have looked a big suspect if they’d announced SOA approved and re-lending starting day after JP Morgan buy a stake
Lol mouse...E is for Envious M is for mothaflucka lol
Oh my word, has this stock attracted yet another 'specialist'? :-) Now we're being explained the difference between gambling and investing by somebody who on the 4th Februar 2021 gave the following advice to a board of probably equally unsuspecting individuals:
"You might as well buy one stock and pull out half and repeat the same thing if it pulls back."
Now that I call one heck of a gambling...errr.. investment strategy :-)
Thats easy chris. Its called making 10 times your money or 3 times your money. Little ships should stay near shore and big ships should venture more.
The II's ARE buying, maybe drop them a line and ask them?
FOMO will support SP.
A few days of sideways action will do this good. Then mid-march i think we ll see another 30-40% into the SOA date.
Anyone else think this is holding up well?
EM88, I prefer RMS very well compared to Amigo. I got Amigo cheap, no point to buy in if this is a gamble game. RMS is cheap and big, no headache to think about going to bust. Better than going to casino.
Imo
Gla
Actually Em I've invested here in the summer and don't anticipate selling within the next 12 months. So er, one to stick in the pipe and smoke. Anyone here knows I'm not interested in trading as 90% of traders lose. Here are some gambler stocks that like G3E, Vela, Syme, RMS. good luck calling all the lows and highs correctly with them. I've got time for Mark, but when you're backing a good pony, its best to just sit and wait. Many paths to making money, but none of them involve not taking a risk. The average and cautious investor is happy with 4% per year and that sounds like your game. GLA
Some good debate atm
But a few things to consider perhaps
In the short term what will drive the SP higher? Institutional investment may not have ended . . .
But IF it has stopped for the time being we may see a drift downwards.
Any company related news isn't likely to come until the SAO court hearing in a months time
If that is successful we'll likely see a big north
This investment (I think) isn't risk free. But it has been de-risked significantly given the Bybrook and Morgan moves
Happy to hear thoughts. Personally I may sell as I'm in profit. But will we see a move back to single digits??
EM88 yeah your right sometimes it does look more like gambling and sometimes it’s just trading. Long term solid low risk investing for me is done in funds.
And yes you can sometimes lose 100% in fact I have done twice since I started trading so far! But just on Amigo I’ve had a 100% return a 200% return and 50% twice there have been other small returns and losses along the way but overall I’m about 250% up on amigo. Generally I cut any loss at 25% before it gets out of hand. Holding on regardless when the news flow and sentiment is against you is what I consider to be the worst mistake that you can make.
Looks like next leg up coming
I don't think the II's have quite finished buying yet!
You ought to move on then, wouldn't want you to 'gamble' your money away. Why are you posting here btw?
I listened to a very upbeat presentation and Q&A session this morning. Some focus was rightly on the SOA but the CEO and CFO spent a lot of time discussing Amigo 2.0, which they wouldn't have done if they thought the company is about to go bust.
@Franky-Its cold being a sensible investor and not a gambler, which is what you sound like. Might as well go on a casino roulette table and get high returns with risk 50% risk loosing it. Stupid response, rather than trying to have an Intellectual conversation against what I said. There are Plenty of investments that have high returns more than amigo last few months with much lower risk. ill Give you one'' SAGA'' as one example growing on fundamentals and the market re-opening for travel. Where as you Comparing a company that could go bust Vs that for example. Much Less Risk and much more sensible with high return.
@ Mark- Yeh you can gain 100% and also loose 100% that's called gambling not investing.
On the subject of the FCA - who picked up on the fact that Gary Jennison is due to speak with the FCA later today?
GJ said he was grateful to the FCA for the time spent and commitment shown in regards to negotiations on SOA .
Pis selling and big boys buying