Member Info for itsgambling

MMS playing a blinder. They need buyers as they're aware there are a shed load of sellers. So they drop it hard to find a few bargain hunters. Then provide hope with a little rise to find a few rainbow chasers. And it works. People double down. Throw good money after bad.
Sadly the sellers will out weigh the buyers for some time to come.
When it's in the 7s, and 6s and it's held there for ages. And the speculators have given up hope and thrown in the towel. Then it's worth a punt and not until.
IG

Sadly people don't want to listen to reason. Like hereshopin - turning to abuse when things aren't turning out as they 'hoped'.
8p this week nailed on.
6p very possible.
Then this starts to become a decent punt.
IG

"As everyone starts selling to get out they will eventually dry up." - true, but 61% of the shares in issue (the proportion of those that went to speculators) is not going to happen overnight.
This whole belief that it's guaranteed to eventually come good is very dangerous.

Picture a situation where the sp is 5 to 6p, lots of concern about increased claims & mis-selling, and now the new buyers are speculators hoping to double their money if the sp hits 10p....
My motto is also - buy low sell high ;-)
IG

Thanks for your post lsesb. That's my point exactly. Thousands of people have invested a few £k (£20k in your case) on the promise of a quick buck.
Everyone said the bod were incompetent and were driving the company into the ground.
Now the vote has failed, rather than take a loss people are changing their goal and hoping for longer term return.
As this drops further, and the paper losses grow, many more will sell.
IG

Completely agree. Many will hold. Some will buy. But the state of being so overbought (due to the uniquely big share dump) will persist and the sellers will outweigh buyers for quite some time.
IG

'Buy back' - oops
IG

Sorry to dampen the optimism but the 'get rich quick' crew have barely started dumping shares. 290million (61%) were thrown into circulation over the last few months. Most of those went to speculators - who's interest was fuelled by a 'promise' of a 20p by back. Anyone wanting shares has bought them. Thousands of holders are crossing fingers that 10p holds, when it starts to drop they will throw in the towel. And the same at 9p and 8p.
If the company can get house in order and there's no ugly news about more compo, and they restart lending - then, next year, you'll see a sustained rise.
Until then there will be a lot more pain and a lot lower lows.
IG

Farooq. Don't kid yourself. There are no guarantees here. Other than yazz, anyone thinking that the only way is up needs their head examining. This could drift down for months and then more bad news about claims and the company could go bust. These are real possibilities. This is a very high risk bet. Potentially a multi bagger but with that come potential downside. Don't kid yourself otherwise
IG

So many people on this board desperately looking for positives to cling onto. Institutions won't start loading up now. And 10p or 9p hasn't suddenly become a clear support.
Over the last few months 60% of the shares have been flooded into the market. Many of these into the hands of short term speculators. Anyone wanting shares has bought them. This overbought situation will keep downward pressure on the sp for weeks, maybe months. Any rise will be sold into and many of the short term investors will get impatient or nervous as the sp drops further.
If the business survives and gets their house in order then early 2021 could see a positive return. In the meantime brace yourselves for lower lows and a cap on any rises. The quick reward of 30% buyer at 20p didn't happen - now the reality of 60% in free float is almost unheard of and will take a long time and some real bargain prices before ending up in 'sticky hands'.
Gla
IG

Gotta love all the shocked posts. I don't understand. Why are people selling. It's supposed to go up. Lemmings.
This is the most over bought share I've ever seen. A lot further to drop before this recovers.
IG

Don't say that. You'll get shot down by the lemmings. Haven't you heard... this is cast iron 100% guaranteed to rise 50% over the coming days.
IG

Like a herd of lemmings with fingers in their ears heading for the cliff edge.
The vote will fail. Just look at the numbers from the last vote. Things will get very ugly for a while here. Eventually, the millions of shares will find permanent homes and things will recover, but there won't be a short term fix from JB.
Telling each other it's guaranteed to rise and getting angry at a counter view is really quite telling.
Best of luck
IG

No issues? Erm ... except massive uncertainty, likely failure of the vote, the most over bought share ever and a raft of weak speculative holders who'll panic sell at the drop of a hat.
Oh, and £300k still to hit the market.
No issues. Cripes.
IG

Sadly this is going to be a tough lesson for the hundreds of pi who bought into all the ramping posters saying this was guaranteed to go up.
There was always huge risk and having 61% of the shares flood the market is uniquely risky. The MMS are going to need to tank this simply to find buyers for the last £300k.
IG

It will mean the vote will fail and JB won't get in imo. Just look at the numbers from the last vote. Sadly this is going to get ugly. Sub 10p for sure.
IG

The RNS is ****e but predictable. Glen's conditional resignation will likely mean vote fails and JB doesn't get in/buy shares. So now we have more uncertainty, and a vastly over bought share. And hundreds of short term speculators who will jump ship at the slightest drop.
IG

Short term opportunity to top up imo.
The risk is that a few sell due to the glen threat and uncertainty of vote/outcome. And that a drop triggers some recent speculative holders to panic sell on the drop adding fuel to the £300k we already knew would hit the market today.
So, might see a decent buying opportunity later today.
IG

Short term opportunity to top up imo.
The risk is that a few sell due to the glen threat and uncertainty if vote/outcome. And that a drop triggers some recent speculative holders to panic sell on the drop adding fuel to the £300k we already knew would hit the market today.
So, might see a decent buying opportunity later today.
IG

So many people over exposed here. It's supposed to fly after the final £300k of shares are sold tomorrow but, what if it doesn't?
I hope this shoots up but I fear that if it starts to drop, there's a huge volume of short term traders that will not think twice about jumping ship and fuelling a bigger drop.
Gonna be volatile either way. Exciting few days ahead here.
IG

What if Tesco offered to buy back any cans of beans at 20p in a couple of weeks? Suspect you'd buy a few at sub 20p ;-)
IG