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Yes I think it's 'game on' ... it's difficult to predict the throughs and peaks here, but when all is said and done (i.e. SOA 2.0 approved, lending has resumed, new product range rollout, revised operating model has kicked in) I'm very confident we'll be multiples of where we are today. And I think that's doable in 2021. Best of luck to all.
The problem here is that Peter Wall (and some of the other team members) have so many side hustle which is (in my personal opinion) putting him in a conflicted position (and if not conflicted then certainly majorly distracted). Apart from running Argo, he is Chairman at the Cellular Good plc, also involved at Pluto, and then involved at a business which probably is competing with Pluto (https://www.nftinvest.pro/team). I have a major problem here with this stuff.
I can see 20-30 here in coming weeks ... as far as the longer term share price outlook: I think they are going about this the right way (and even with dilution, I think they will be well-placed). It will be a very transparent 'empathetic' model, without diluting their margins, while also improving their loss ratios (given improved underwriting). I like their renewed focus on customers and their well-being - it's certainly a more grown-up Amigo that is emerging.
I agree ... i think the fact that they have raised, means any sale (and hence proceeds) must be a few weeks away. Otherwise you would have held off on the fundraise.
Still not convinced about the so-called news blackout (PW not allowed to say anything ... again), but let's assume it's true for a minute ... does it mean we don't hear anything for ~40 days (no news on mining rigs, no monthly performance updates)? Could become a rather dark period with share price stuck in the £1.10-1.40 range for a long time. thoughts?
I can tell you - as someone who works with this stuff - this is a screw up for the ages ... I can give you ~15 pretty basic points where they went wrong ... the problem is: after a day like this, it takes the share price a very long time to 'forget' the vulnerability ... I'm concerned about how long we will have to wait until we get back to 150 pence ... I'm worried about the risk to the donwside here. And i'm long.
I give Peter a year in the job. US institutional investors are going to chew him up. He clearly screwed up this so-called IPO - its a disaster. If he doesn't deliver mining performance very rapidly from here, we could be below 1 quid very soon.
One who understands numbers. I'm sorry, but Peter Wall is a journalist by training if I'm not mistaken, and that lack of corporate experience is being exposed here today. We should have a much better executive team. The CFO is also particularly absent, and has practically no corporate CFO experience, let alone guiding a company on IPO issues.