It's still a 5% spread here (7/130 just now), which is a bit much but it is curious that this share was priced the same as IGG less than a year ago. They share a similar business model but IGG has grown to over £4/sh while LCG has sunk to sub £1.5
I quite like Costain but it is such a boring share. Just look above High 23.25p, Low 22.63p, 52 Week Low 21p. I don't remember the dizzy heights of 36p but maybe that's right.
I can tell you that US CDM is different. It is okay but is sweeter (too sweet?) and almost a little plasticky. Certainly not the same body/texture/'mouthfeel'. It is almost reminiscent of a non-dairy or something chocolate that was around a long time ago.
What is 1m in annual debts written off when you compare it with their turnover? I read somewhere that the £1m was mostly attributable to fewer than 10 account holders. I mentioned in an earlier post that they have tightened up their risk management policies. I believe that this included monitoring losing positions, improving the customer warnings/margin calls and closing positions that were over-exposed. Simple stuff really.
I sometimes think this stock does better when the market is going down but it could be heading back towards 250p now as I believe the market is more confident than it was in their business model, growth plans and debtor risk management.
I just sold half of my holding for total original stake money and will wait for funds to clear on the rest. Nice start to the weekend. Bristol, here I come.