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Nearly every company in the energy/oil field seems to be in a death spiral then. Share price action is not always true reflection of value. Some of the better Canadian E&P's that can outlast more than a year of very low oil prices have fallen 80% since January. I prefer to see that as an opportunity rather than a selling signal. I would have appreciated your tip to sell at an all time high, not at this stage of the cycle.
Toff.....thanks pal, so you reckon I can say goodbye to £250K ?
Look at the shareprice action. I’ve seen it so many times before. it’s in a death spiral - this stock is going to fall to a fraction of a penny.
Save what you can is my advice.
Toff
Long term holders are in a world of pain, but selling at these prices is not a clever thing to do...
Many would disagree. That’s based on a false assumption that it will recover - it won’t, Centrica is destined for bankruptcy and the market is pricing that in - FAST.
Selling now would at least get you something, you wait much longer and you’ll get NOTHING.
Toff
Is that your favourite saying.
Cutting the dividend should have been done last year. At least they are showing corporate responsibility by doing this and stopping bonuses. I don’t believe this company will go bust, it is a long haul back for them but by not paying a dividend for several years will allow growth to return
The company will exist but shareholders may not .
Cutting the dividend was the most sensible and normal thing to do under these circumstances. Engie in France have done the same. Long term holders are in a world of pain, but selling at these prices is not a clever thing to do....Engie and EDF in France are also trading at all time lows by the way.
Toff.....thanks pal, so you reckon I can say goodbye to £250K ?
Fire, worse case scenario - the bond holders own the company and existing shareholders are wiped.
Toff
I am fully aware of the financial destruction the board have put this company through. Particularly Conn.
Fire
“That's sad to hear. Everyone is losing money somewhere.”
But no one is losing money like Centrica shareholders. This stock is the mother and father of all dogs. An engine of capital destruction.
Anyone buying into this disaster will be buying into a world of pain and grief. Buying a stock because it looks cheap is a red herring. Centrica isn’t cheap because it’s going bust.
Look at it like this
If you bought £5k of Centrica @200p
You’ll lose £5000 if you hold the dog until the last day
If you bought £10k @20p
You’ll lose £10k if you hold it to the last day.
You have been warned.
Toff
That's sad to hear. Everyone is losing money somewhere.
So what next for this company? espesh with almost 5bln debt. Government bailout will be guaranteed in worst case scenario.
aspers
Yes that's the trouble when you have so much invested in one share
I suppose it all depends how old you are as to how much you get back
I was with BG for 40 yrs until Christmas but they are so expensive I changed and saved over £200 a year
Feck.....That is £6500 I am losing out on, not only that my initial investment is 75% down. I dont think I will ever see this back in profit in my lifetime :-(
Cancelled gloomy outlook
Not yet , but it’s looking very likely but you never know . I’d guess they will leave till the very last minute before cancelling if they do it at all.
Has the Dividend for 3.5p ex-dividend date Thu 07 May 2020 been cancelled ? sorry guys if this has already been talked about, I haven't been looking at shares this last week it is too depressing.