Georgia Capital Share Price (CGEO)

Agreed. I think the reason for the rise of GEL - and the profits of local banks - has been the tremendous growth of the Georgian economy. If that stalls, well the party will be over. Especially if prospects of joining the EU are dashed.

The Georgian currency is a very big risk here and if the GEL was to return to the same average exchange rate against the USD and GBP as in 2021 then these shares would fall by about 30%

In May 2021 the USD bought 3.45 GEL but it only buys about 2.75 now

And in May 2021 the GBP bought about 4.80 GEL but it only buys about 3.50 now

There does not seem to be any good reason for this huge rise in the GEL gainst the USD and GBP in the last 3 years and so it is likely that the GEL will return to a more normal level against these currencies

This would mean a fall of about 30% in the shares

"Georgia capital begins share buyback following country's protests" by Elliot Gulliver-Needham appeared in City AM. It says what today's RNS says and that the share price drop is due to protests at the recent foreign agents law. Worth reading.

There's really no excuse for these guys not to be slamming repurchases now. Hopefully they announce something soon. They must be receiving lots of cash from participating in BGEO buybacks, and they've been talking about doing big buybacks for awhile. This is the perfect opportunity.

Well, they actually passed that law, and look at the share price. Hmmm.... so, where does it go from here ?