"The mcap is currently around £500m but they raised 'gross proceeds of approximately £375 million' just a few months ago.
So the market is now saying that the bank was worth £125m just a few months ago"
They also got £120m from RBS so that would have valued it at just £5m. Off the top of my head think BV is something like £1.7bn, no legacy issues, turns a profit, MC less than £500m, seems crazy to me.
RE: think folk are getting embarrassingly ahead of themselves!22 Aug 2019 22:02
100% agree with you C0dey. A month ago it was £5 and now people are expecting it to jump to £6 because of a small rise from an all time low with nothing to back the claims up. IMO it looks good value but it's a punt and until the shorts start closing I wouldn't want to gamble any more. I did buy some more today (average down to £3.14) but that's it until I see some sensible reason for an uplift. Mind you in the current climate with Brexit/Trump/Trade Wars everything is becoming a bit of a lottery. GLA - DYOR
I think it is good to hear opinions that differ from ones own and I really thought that was the whole point of the BB.
Lot's of people moan about buck and I don't always agree with him but in all fairness he does at least back up his views with some actual facts rather than a load of BS. I would rather somebody say you are wrong because of this article or these figures rather than just spout tomorrow this will be 15p, 50p or NK is doing a deal without anything to back it up.
Likely be good new or big increase tomorrow21 Aug 2019 23:35
Why? Because I always seem to get it wrong lately and today I finally gave up and are out at a loss I don't even want to think about.
I was involved in the travel industry for over 20 years (still have a small interest) and last time it was near collapse I looked at the figures and thought 'too big to fail' and was right. In 2018 due to it's business model I thought I can't see it still being in business by the end of 2019 but when the results came in and the sp plummeted I again thought 'too big to fail' so came back in and despite buying in to lower average just watched the money disappear day by day.
GLA that are still in and I may well be kicking myself in a few days for taking 10p in the £. Does at least mean I can reduce my average on SAGA and MTRO (boy can I pick them).
Shorting - Can somebody please explain why allowed21 Aug 2019 23:02
I might be naïve but I really don't understand how shorting using ALGOs is permitted.
As I understand it, if I was to place hundreds of sells or buys a day often for only a few shares at a time as an individual I would likely be accused of trying to manipulate the price yet it seems to me this is exactly what is now happening by the shorters but that is all ok and above board.
Selling high and buying low I understand, it's being able to almost control the price and walk it down that I don't understand
@dogger69 I sincerely hope you make a profit at 357 I've had to buy a load more to lower my average (now 317) and hope to get back some of the huge loss made on TCG so have fingers crossed for this to go a lot higher than 357.
TBH I am surprised some of the big players haven't jumped in at these prices when the recent placing was over subscribed at 500.
RE: Lots of big buys going through!12 Aug 2019 17:46
I actually agree with Paul.
Despite being told by the BOD yet again "existing shareholders are therefore expected to be significantly diluted as part of the recapitalisation' an 18% fall is actually less than I feared this morning.
Whilst I don't have a clue what is going on I am pretty sure the Turk and Russian have not spent millions on shares without some sort of plan. Whether that will be good or not for existing sh who knows, only time will tell.
Mind you what do I know, I bought MTRO at just over £4 and that hasn't gone to plan.
RE: Most read news paper in Turkey prints the story09 Aug 2019 10:15
Don't mean to be negative but that web address with the .com.tr looks a bit suspect to me. Just looked at https://www.dailysabah.com which seems to be the official site and is available in English and the article is not on that site
Good point Gareth, it's been a long day, so eager to reduce my average never gave a thought about the mms. Honestly, been away for a few days and come back to this roller coaster and never had a chance to snap any more up towards the bottom.
RE: A few thoughts....about the bid?01 Aug 2019 15:56
illbetabuck What you say makes good sense and I was thinking along similar lines, the way it was disclosed makes no sense if you were buying more. Wish I could work out some logical reason for the buy in the first place.