Granite shares11 Apr 2022 09:44
Anyone holding the Granite shares in these? I've written to the company asking for an explanation of how they price their products. As an example Rolls Royce 3x longs were over .05p on July 21 2021 when the underlying share price is about where it is now, whereas the mid price of the product is currently .0228 or so. How can they warrant a reduction of well over 50% when the quoted interest charges are about 6% per annum? I expect to lose if the share price remains the same, due to charges but I don't expect to lose over 50% of my holding! I've asked for a thorough explanation before I take this to the FCA, as this seems a complete scam. Of anyone else has any experience like this please contact the company, as the more that do so, the more likely it is we can see some transparency about this. I will also contact IG as they are quoting the prices so must also have some responsibility here.