Member Info for barnetpeter

Argo Blockchain (LSE: ARB), a global leader in cryptocurrency mining, is pleased to announce a conditional offer for subscription via PrimaryBid of new ordinary shares of 0.1p each in the Company ("New Ordinary Shares") at an issue price of 200 pence per New Ordinary Share (the "Issue Price"), being a discount of 20 per cent to the closing mid-price on 8 March 2021.

Less than 3 years ago. The company had no debt at all, piles of cash and bitcoin. Company of the year.....CEO of the year and punters desperate to pay 200p.

If only the company had kept its nerve and not blown its money overpaying in Texas and making so many stupid decisions. We could easily see bitcoin at 40,000 but the mkt simply does not know what Arb is worth or what the true value is here. 10 pence? It was raising a load of new cash at 200p not that long ago.

Just an over hyped dawg. No real business here. Down below 5p soon.

But then I told you that hi blue at 20p.

Yes but Sos is now not worth more than 4p. There is every chance that the stock will be bust within 2 years. It is in the worst business at the worst time. Things are getting worse and the future is dire. More tax on the way and a lot more conflict.

Not the fault of the company. A terrible time to be in small caps like this. Most will go bankrupt

Yes but you can say the same about Quiz. I think people are fed up with online stuff unless it is really cheap like shein. But the costs of having stores and business rates etc. staff costs are getting higher and higher and Labour are committed to getting rid of zero hour contracts and controls on strikes etc. no wonder mkt hates this statement. 5 pence on the way if they actually start buying stores.

Shareholders turned down an offer of 100 pence although I sold in the mkt for higher than that as mkt hoped for a counter offer. Raised a load of new money at 20 pence and I bought back then. Down and down and here we are at lows of below 3 pence. Xmas on the way and will anyone book any parties? I doubt it. If not this will be broke next year and either in administration or maybe an offer of one penny? Not all their fault I guess. Covid and WFH has done for them.

What a dawg this has proved to be. Not always like that though. I remember when we all talked about buying a brand new sports on the back of Horse Hill. The trick has always been to sell Angus at the highs....easier said than done when there were dreams. I managed it a couple of times but always with reluctance. Over 30p once....seems mad now with this nearly broke after all those placings

Bad review tonight in Telegraph (paywall). UK does not welcome the control of a UK bank by foreign investor. Metro is now paying a colossal 12 per cent on some of its debt. Huge dilution for equity and a kicking for bond holders. Another 40% of mortgage to be sold leaving....not much.

This is bad. Be carful

A general equity raise would have seen Metro at 70p plus. But this deal is terrible. The majority holder now owns 53%. They can do as they wish. Sell off the best bits of the company in a deal that excludes other shareholders, take the company private and delist.

Corporate governance is the biggest issue in investing. The majority shareholder can do as they wish. They wont care about you. If the share price tumbles to 20p, they can buy more in the mkt then make an offer at that price and you can do....nothing

Now owned by a foreign organisation with 53 per cent. Can do what they want. May sell bits. Raise cash to get back their investment and exclude other shareholders. Usually a terrible investment. Institutional investors won’t touch this. They have no say.

Yahoo finance has this at 32.42p at 10pm tonight. No idea if this is any indication of what is likely to be a very bearish mkt day

"It’s hard to avoid the conclusion that Metro Bank is in the final death throes, and therefore so too the whole wildly over-egged challenger bank experiment".

Yikes...telegraph tonight

We don’t know. The Fed and Bank of England will have a good idea of course but they are not saying. There is a lot of speculation and the shorts are going to make a fortune. Meanwhile the amount of debt owed by governments is staggering.

No they will buy new shares in a placing and will press for the lowest price to max their profit. It will be substantial of course. Metro won’t go bust but as in the USA it might get taken over for very little. Holding banks is so risky. An article yesterday in the press pointed out that the government sold long term gilts to banks and pension funds for a price of 330. The price today to buy is below 50. Gilts. The buyers will get their money back in full in 50 years but until then the coupon will be just 1 per cent. The losses sitting on some of these balance sheets is just eye watering and at the moment it is hidden. Technically some of these banks and funds are theoretically broke. Bankrupt. Which is why the mkts are so nervy

My guess is 25p. The shorts will buy heavily to close out I reckon. We might see a bounce then down into the teens. The publicity today is not good and a lot of capital will have been moved. Protection for banks is what? 80,000?

I thought about buying at 15p. I am just not in a buying mood at this time.

Well done to all those who hit the button.

52 Week High 155.00

52 Week High Date 16-Feb-2023

52 Week Low 48.00

52 Week Low Date 04-Oct-2023

Cannot see this going bust. Great customer in branch service. 48 pence though! Wow. Lows where? Mkts very low as

interest rates worry. Presumed the next was down not up. Bond mkts in big trouble.

Been in and out of this for years. It listed at crazy price. There is a store where I live in the shopping centre. Always empty. Just too expensive compared to the competitors. Who are always having sales. Going bust….no idea but Wilco store is just along from quiz. Sign of the times I think. May take punt if this fall continues. Best chance is the family buy the company back.

Lots of overhyped companies have dived in price since placings like this. Stuff like boil. Now down to just 8 from over 20. This stock has had a great run from 6.5 and a placing was expected and normal. But now there is plenty of new stock and the price will struggle to move up as quickly as before. The herd will move on imo and might return to the other companies in the same area that have fallen away sharply.

Yes it’s stupid. Not the deal or the raise at a premium. All the red tape and the need for a pointless admission document. Expensive and pointless. We were told that this sort of nonsense was going to be abandoned in U.K. mkts. What is the point? No wonder investors are so disillusioned. The proposed changes by lse need to come in to stop all this rubbish but of course lots of people are making lots of money out of these old quill pen rules that achieve nothing at all. Good stuff by the company of course but easy to see what they are up against and why no new companies want to list on lse or aim at the moment and look at other stock mkts. Red tape galore, little investment and valuations that are the cheapest in the world. Sorry for rant!