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I was a funding circle lender and just managed to get out before they stopped people selling their loans.
The consensus of opinion on various forums at the time was that their behavior was a sign that something was seriously up, I think it's fair to say their share price up to the start of 2020 also indicated what people thought of them. Around that time several P2P companies had gone under.
Then came along CV19 and the insanity of the CBILS lending, Sunak handing our children's futures to anyone who asked for a loan IMHO.
Great news for FC though, loads of magic money to lend out without any checks of risk.
So, the share price shot up.
Now CV19 is retreating, what now for them ?
Now interest rates need to get to 10%, what now for them ?
Now the magic money tree has been chopped down, what now for them ?
One shouldn't be surprised that the share price is falling, one should be surprised that it went up in the first place.
After their initial fall, there is some blue for Funding Circle in recovery. But guess the results in 5 1/2 weeks time will be the clue to whether they dive further approaching or indeed are closer to a quid by mid March say !
" But 76.5p seems a real bargain, ". At what price does something become a bargain when its getting cheaper by the week ? Watching this one but obviously it`s getting dumped so I wait for news. May not be the bargain you think it is....
Looks like it can't drop much further, however uncertainty still remains with the world economy. All the market took a big hit in the last week, but has started to recover. Banks were hit & so were all other investment companies. But 76.5p seems a real bargain, so very tempted. Best to hang on to cash right now though.
When I first saw all these adverts for Funding C I always thought it was a government owed / backed company but it's not and could go bust like any other company. Or am I seeing something wrong here.? Any thoughts.
15% gone since Friday morning. What on earth is going on? 50% of the company value gone in a couple of months. I can only think the market is expecting bad news but based on what? Troubling times for the Funding Circle share price. I bought at about 98p and am over 20% down already.
something wrong here. down another 9%.
steady decline in share price without any major news!
market is hungry for an update!!
Thank you.
CEO transition:
· As announced in a separate release today, Lisa Jacobs, Managing Director of Funding Circle UK will succeed Samir Desai CBE as Chief Executive Officer from January 1st 2022. After 12 years as CEO, Samir has decided to step back from day-to-day activities at the end of this year and transition to a new role as Non-Executive Director.
Its reported at the end of the half year report. The MD has taken over.
Samir Desai bought 65,760 shares for £1.5236 only in September last year. When did he announce him stepping down? I can't see any RNS.
Its a conundrum, I bought some at 98p and have since seen a further 10% erosion in the share price. No news is meant to be good news but this share seems to be suffering from a lack of new flow. The share price has dropped by more than 50% over the past 10 months. The last half year results reported decent profits and anticipated an acceleration in lending but with a lower profit forecast for the 2nd half. Samir Desai stepped down as CEO from the 1st Jan this year although will retain some input into the business as a NED. Full year results are due in a few weeks.
Then why is it going down? I can't see any mention of bad news!
I have a limit order at £1 since yesterday that has not executed!
Blimey. Didn't think it would drop under the £1 mark as quickly as that. 7% of the company share value gone on no news and low volumes. Time to buy!
Looks even more attractive now at £1.03p ps. I wonder if it will drop under £1.
I wonder why the drop from £1.60s to under £1.10?
It certainly looks an attractive price at the moment.
I'll certainly settle for 100% + within 2 years.
https://walletinvestor.com/lse-stock-forecast/fch-stock-prediction
https://www.sharesmagazine.co.uk/news/shares/funding-circle-dips-despite-gaining-market-share#.YAVujMqWJuQ.twitter
My guess is that beleaguered Jupiter are selling which has caused a drag on the potential upside here - very peculiar trading activity with large premiums paid for volume
As at 13 December 2020, we represented c.25% share of the number of CBILS loans approved since we began participating in the scheme. When CBILS ends we will operate our core lending product alongside the long term government guarantee programme previously announced by HM Treasury.
FC have done a decent job at getting through the Covid period and the issuing of CBIL loans came just at the right time.
I assume....you can never be sure....that at some point in the not too distant future the CBIL scheme will wind up. What is FC's long term strategy? I suspect it will be to abandon the P2P model, too much faff dealing with all those private investors and a lot of P2P investors have had their confidence shattered by the outcome of other site's defaults (even if FC's actual returns over the past year have been signifcantly better than many lenders could have dreamed of back in March 20).
Trouble is what does that make FC. No longer the leader in this sexy new P2P industry, but just another bog standard provider of loans. And once FC, or somebody else, doesn't get a government backing for issuing loans, then it may not be such an easy game to play.
So yes, today's results are decent but the last year's results have been a one year sticking plaster which has got them through Covid-19. Long term though no idea.
The problem is, it is not their loan book!! They are a platform that match 'investors' with borrowers. They need to keep pedalling because they only earn from the fees on new loans with a management fee on loans. They do not own their own book.