Member Info for Robbie2017

With the collapse of WTI one would hope oil production in Texas now stops, will this resulting fall in output be enough to support the global oil price I wonder?

& how come we are getting hammered whilst Genel is doing just fine?

You’d think people would be snapping these up at this price, wished I could afford a top-up... Whats it going to take (Oil has crashed & storage nearly full so market has got to cut back & support the price plus most countries have passed the Corona peak & starting to reopen)?

I foolishly bought yesterday morning, gutted but why the big drop, any ideas?

I think a lot of people are concerned as was I although this specifically relates to spread betting - I had another reply from IG this morning:-

“ Yes, at times, there is a payout to share holders in case of a buy out. Clients on leveraged accounts are entitled to the terms of the buy out.”

3 different staff members at IG have told me they won’t pay-out until FRR is registered bust/bankrupt & if it’s sold or realists shorts & longs will be paid if long or owed if short.

When I asked if shorts had been paid this was IGs response:-

“ Clients wouldn't have received a payout as the stock is delisted. What would've happened is that client's with short positions that were in profit would have had their profits moved into a proceeds account which they couldn't have withdrawn from. This would remain in the account until we have further information from the company as to a relist or a payout to shareholders.”

I had to remortgage the house as share price collapsed & am left with the debt - some in here are saying if the company is sold (& not relisted) we longs get nothing back - that’s not my understanding but I’m waiting for confirmation - longs even get dividends if/when they are paid...

I have a long spread bet with IG & currently awaiting a reply but my last conversation stipulated there would be no payouts (either way) until the company folds, relists or is sold - they can’t close positions until they have a definitive share price to close... I hope that’s right coz I’m sick of this mess & it would be so unfair for the shorts to win!