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Hi folks. I kinda have been sat in the background watching this for a bit. I was fortunate enough to make a quick buck on an amigo pump and dump when it was obvious this was going to nose dive like it did.
I see so many people ramping here it’s incredible and can see so many people who have lost money clinging onto a little bit of hope that this is going to fix itself.
I hope it does, I really do as it’s terrible seeing people loose money. But this share is a great case study for classic ramping of trash.
Look further afield at the sub prime loan market. They are getting hammered. Every one of them are struggling as we slip closer and closer to recession, COVID is meaning people have less money and after what I imagine will be a little rise over Xmas this is going to tank if not go into liquidation as those who splurged over the Xmas holidays on loans they can’t afford default on them.
It’s happened with payday loans. It’s happening with sub prime credit cards, it’s happens with anything that targets the poor and amigo is one of them.
Coupled with a dodgy ex owner and BOD who quite frankly have let their share holders down massively there is one place this is ending up.
I really hope I’m wrong. And it genuinely pains me to see people lose money. Call me a deramper, or tell me to DYOR whatever. I made money from Amigo and actually feel a bit ****ty making money from such a predatory company. But if you can get out do it, and put your money to work somewhere else.
Good luck folks.
Newbie, i'm taking from your name you are new to this? I'm not normally active on the board but have a read of this regarding directors selling shares:
https://www.news24.com/fin24/finweek/investment/how-should-investors-react-when-directors-sell-or-buy-shares-in-their-own-companies-20171207
I get hes de-risked if that's the purchase price he paid, but it's a strange thing to do during takeover notification. Wish there was some more reasoning behind it.
Anyone have an idea how long it takes for a flank licence to be approved?
How long have you been trading? You always get a slump after news, you get an initial pump on it being realised then when released it drops.
If you had done any research on this share you would have seen exactly that on every single bit of news that has come.
Further, with even less effort you can see over the months how this share has been doing... little tiny percentile dips from time to time are to be expected.
it's not rude, it just beggers belief people would put money into something without any research at all?
There are a load of reasons regarding whats happening today, all of which can be found in short time reading the RNS and following what happened with PRIM.
If you can't do this level of simple research you shouldn't be trading, because you're going to lose money.
Absolutely take the advice here and don't put in more that you can afford, or use a loan.
I'm in a similar situation to you, in that I don't have a huge holding in GGP but have built it up as much as I could afford over the last year. I went through a break up and it ended up costing me a lot of money, house etc. Couple that with a move to London and life got very expensive.
I've researched this as much as I can, taken so much from the knowledgeable people on the board and at times feel a little greedy and have considered financing shares in this company.
But at the end of the day, it is not a sure thing... it's close... yes it is, it all seems good, but it can all go wrong at any moment.
My friend who has a vast portfolio said to me "Only invest money that wouldn't break you if you dropped it down the drain... it might make you cry, it might set you back, it might hurt... but it won't break you."
Build slowly, it'll come... there will be other opportunities where you might be in a far better position to take advantage of in the future.
GL and always DYOR
Lol this won't hit 15p today... most likely this will drop down a bit, give a solid base at 9... hopefully 10p and plod along until the further results come back. Stop ramping! This board is pretty good for solid advice and not circlejerks
I'm assuming with the value of your portfolio you are using a free trading app like 212 trading?
The SP is not what you will likely be able to sell your shares for. It's a little below that, and it'll be fluctuating. 212 tries to work out the likely price you would get a buyer for your shares.
Marky, you literally joined last week stating you were a newbie and wanted advice... obviously because you didn't see immediate bursts of gains (No doubt listening the the real rampers) and couldn't be bothered to research or read the massive amounts of information you've made your conclusion... albeit a wrong one.
There is risk in investment, and it's rare to get massive SP changes overnight. But how this is holding is a testament to the value. There is still lots to be gained and released as they do their work. It'll come, but not in the short term.
Leave your stock here, forget about it, come back in 6 months and give me 20% of what you make.
212 states they trade 'at the best price available' and can lead to some delays. They can also be slow on purchases on AIM. It is a great app for commission free, and the interface is better than freetrade, however I think freetrade as they develop their roadmap will become the better app. Worth downloading and having a play with it