RE: Such a Big price drop - don't understand it17 Mar 2024 19:53
The first short opened on Thursday. Expect another short disclosure tomorrow from Friday I would suggest.
Sadly this continues its decline tomorrow IN MY OPINION.
I admire Mary saying it's only money, but when money runs out for an investor due to bad decisions, what do you do? As I said Friday I cut my losses, my risk appetite just froze when I saw the pressure on the bid.
Equally, as Mary rightly points out, this could end well and rebound sharply. But that won't be any time soon in my opinion.
Amigo loans at one point was 300p I believe, now it's 0.2p. The FCA soon sorted that one out and the court soon declined the offer Gary Jennison and his team had put on the table in 2021 - the judge decided to favour the FCA and claimants. The business fell from there, just wasn't possible to furnish the judges recommendations. And the claimants were probably on the bandwagon!! I do not know understand fully the VANQUIS offering, and if it compares to Amigo in any way, but if claimants numbers grow and the fca get involved, this share will plummet further.
An interesting watch and one would hope the board here deflect the declining SP and issues some news to reassure the market and stabilise its market cap.