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totally agree the company is just preparing for the futre and that takes investment.....another plus is Virgin has no legacy whats that worth in the banking industry today?
Well you can't blame them Compass - after all, this is a great buying opportunity!
some very hefty late buys went through yesterday.....
According to these guys... [url]http://www.insider.co.uk/news/virgin-money-reveals-launch-sme-11530381[/url] and [url]https://www.standard.co.uk/business/virgin-money-in-fresh-bid-to-woo-small-firms-a3692846.html[/url] ..Virgin expects to see its profits from the mortgage market to fall, but hopes to take up the slack by opening a SME savings account in January 2018. Is that the case and does anyone think that they are in with a chance?
Given that Virgin Money has said it expects growing competition in the UK mortgage market to impact its market share and profit margins in 2018, and has warned that its share of gross lending will be at the �lower end� of its forecast range of 3 per cent to 3.5 per cent, while its net interest margin will fall to between 1.65 per cent and 1.7 per cent, it's hardly surprising that its share price has taken a battering.
I agree with the comments, but still don't understand the huge drop, especially as the share has been falling rapidly in the past few days in the knowledge/anticipation of today's news. Unless this is shaking the tree to trigger stop loss sales I'm puzzled. The future will tell, but I've added to my holding today.
By the way, I bought in here this morning at 259p and now happy to sit it out for however long it takes.
Very strong support at 258p. Its bounced of this a few months ago after testing it several times. I think anyone buying around this 260p level is buying the bottom. Happy days ahead. Also, I could quite easily see this getting snapped up by a bigger (foreign?) fish.
I have gone all in on this.....A growth bank on a P/E of less than 9 paying a dividend.........says it all to me......GLA
The market on some shares seems to over react all the time no matter what news they put out ,VM is a well run bank and sp shouldn't be this low but that's the market at the moment
Market seems to be over reacting to VM stating they will be hitting the lower end of their 3-3.5% estimate. Still well within their estimates. More importantly, this company has a margin of 39.9% That is phenomenal, has been growing it's revenue and profit consistently since IPO. Granted, it's not an incredibly long time period but there is still much growing to do and the company is cheap. That's the main thing, buying now you are definitely not over paying for the company. Market cap right now is roughly same as book value, and P/E as of today are about 8.8 give or take. Net asset value per share: 357.33p
But why is the SP sinking like a stone? The bank is clearly doing well...
Problem is, every time I dip in, it drops 10 to 15p...
crazy, how cheap are these, wow, many thanks to the sellers!
Markets did not like that.....this is an outragous buy.........
well i was right about this going to low 280 but at 260 couldn't resist at this price will now hold for the usual rise to 280 GLA
OSB is up 7p at the moment VM down 11p these are two good banks in the same business, so do not understand this drop ???????????
What is going on with this company? They are doing great, but the SP is still free-falling?? Is it Brexit or something else?
Good chance VM going to open over 300 Monday
Yes you are right I have made a lot of money on vm over the past18 months I have been dealing this share
Over the past two years VM share price has been above �3 75% of the time and on average below 25% of the time . So if you are getting the chance to buy in around the 260 270 280 290 point you have a pretty safe investment . When you sell is in your hands Good Luck to you all
look at my posts i did say we would get a bit of turbulance on the way to 355p
What has caused the sp to rise today ,cannot find any news or broker up grade ?
Good call ,,,was waiting until under 2.80 so a wee bit gutted. Having said that VM has been good to me so no complaints
Sold out earlier in the year after the election. Lost patience with this share. Hopefully after continued traunches of good news the market will eventually wake up to it's potential. Second time lucky. Not quite beginners luck but hopefully my hunch will be correct and we'll all make a few quid GLA.