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Huge falls here. Presumably reflecting greater perceived risk of a run on the bank because of its relative size. Whilst that seems unlikely, I can see why not many buyers are being tempted at the moment even at these prices.
Hi,
Thanks for the replying with the explanation !.
Certainly not following the big boys in the same sector.
Certainly not following the big boys in the same sector.
seems like its running down day by day any one advise?
850Commando
Why does this share always get hit so hard when there is a bit of a down turn ?.
Because it is a retail bank!
Retail banks are inherently unstable because of the maturity transformation they provide. They take short term deposits and give out 25 year mortgages. If too many of the depositors ask for their money back at the same time (a run on the bank) then they would be unable to pay all of them. That is one of the reasons banks are so heavily regulated.
Bad news can sometimes trigger undue withdrawals. Shareholders, particularly retail ones, seem to want to get out fast which creates a high level of volatility in the SP. This gives rise to a secondary effect. Day traders and people looking for short, even very short term profits need volatility in the SP to make money so are attracted to banking shares. They want to be the first in when the market is rising and the first out when it is likely to fall. This just amplifies the overall effect.
Why does this share always get hit so hard when there is a bit of a down turn ?.
Virgin Money have just paid a 7.5p dividend - almost 5% return plus they are doing share buybacks - they are doing well and returning cash to shareholders
what a dead wood
@Elphi - whatt do you mean? The whole market index is currently down today. It seems you bought in for Divi’s (without any DD) and looking to hold for two months to make a quick buck. Unfortunately, that’s not how this game works….and if you are playing it this way - you will end up losing a lot of your money in the long run.
Anyhow, whatever your strategy is ATB and GL.
I thought this company in profit looks like going other way around
Thanks mate looks like its dropping day but I think I can hold for 2 months
Bank the decent dividend today and get some more shares at a discount - next divi round the corner
Good luck Elphi.
FYI - the shares usually drop on dividend day will be about -3-4% tomorrow at bell. Best generally to buy well before dividend day.
ATB.
HI i just bought the share prior to ex-dividend date finger cross to get me update in the DVI books
Might pluck up a nice bit of business here from those coming to the end of their fixed rate mortgages, wishing certainty over repayments, and not wishing to pay the recent 5.39% to 5.5% rates. Anyway its getting publicity and also feature on the best buys and accessible also to Independant Financial Advisors and Mortgage brokers. Certainly won't do Virgin Money any harm.
https://www.msn.com/en-gb/money/other/is-it-worth-fixing-your-mortgage-for-10-years-virgin-money-has-one-of-only-two-sub-4-rates-on-the-market-but-borrowers-must-lock-in-for-a-decade/ar-AA17c1xx
@GoingLong: Think Brixton means ‘not necessarily’ regards to CityWatcher’s “buy today to beating any further rise” comment….
Brixton - What do you mean ? Not necessarily?
Not necessarily !
Yes tomorrow is your last chance, but I would try to buy today beating any further rise.
Hi, so to confirm - is the 8th the last date to buy more for the dividend pay out? or today ?!
Thanks !
Of 0.5% and 0.5%, haven't seen many banks or building societies passing on any of the rises to savers.
Meaning...
Yeah, looks good going forward - ex div 9 Feb, paid 15 March
Great return £££
Returning cash to shareholders - going ex dividend 9th Feb - 7.5p dividend soon..