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Franalex , i’am in exactly the same position as you and mentally have written off 100% of my original investment from many years back . Now I see this as an opportunity with a big potential upside if they can get it even half right. Looking back in the cold light of day the Government effectively wanted to close down the Sub Prime lending Market hence that led to the painful reality that Provident was pretty much down and out, the bit in the middle is irrelevant now.
Franalex what’s the point harping on about the share use to be £35.
That business model is now defunct.. dead
Door step lending doesn’t exist., that’s how they turned in the profits.
This is in many ways a start up with baggage.
Even from there in house Brokers state .. they only expect the SP to rise once the Market has confidence that the business is profitable. So Now It’s All About Delivering.
Don’t expect a rate drop anytime soon this will have an adverse affect on the SP .. hot inflation figures in the US today as I predicted over a week ago will spill over in the UK market… just don’t believe what you read about UK inflation, it’s still there, the government is trying to paint a rosy picture.
Reckitts, Close Bros , Vanquis .. all with potential claims against them ( bogus or not ) . Small or Blue Chip the market is doing what is does is run away from unmeasured risk. There’s also the fact that inflation is still with us here and more so across the pond irrespective of what governments say and markets are now pricing in interest rates remaining high for some time yet, of course pre election they will drop.
Yes it may give a short term boost to the SP and no doubt you’ll make a few bob in the following days but I think most serious investors are looking for a consistent flow of climbing profits. Let’s be honest the last lot purchased a modest amount but it did bugger all for the SP .
Patience my dear friend… this stock is a wee bit out of fashion but like all things what comes around goes around., only a good dose of balance sheet profit will take this ugly duckling on the wana buy list again.. just be patient market sentiment outweighs fundamentals.