Hopefully, Amigo doesn't go into insolvency. The problem is that almost every amigo customer is in a desperate situation so it's easy to see why they would stop repaying and complain. FCA can play a tough guy but at the end of the day it's not an easy task to satisfy amigo customers... just been looking through some recent complaints / 1 star reviews and there's nothing wrong from a loan business perspective but many people overestimated their ability to repay such loans. For example, one person wrote that she got pregnant and could no longer make repayments so Amigo are (abusive words). Another customer complained that his/her guarantor gets "harassed with reminder emails" and they have bad relationship now so neither wants to repay the loan and that's why Amigo are (abusive words).
If we get bad news, you won't be able to get out at the current price. All the IIs will dump their stocks at "after hours" or pre-market so the price will plummet on opening. Same applies for the upside, the SP may double or triple in no time so it will be equally impossible to get in when positive news are out. I prefer to stay ahead of the curve rather than behind so hopefully, AMGO can strike an agreement.
Totally agree, it's toxic at the moment. The SP has been sliding since January so for a change of trend we either need big news from India or a change in sentiment. I'd prefer the latter so that we get a good rally IF India pays and it's a big if of course.
@smhss Cairn is a decent stock and way oversold (this SP may not come about in years). I reckon the drop cannot be explained by fundamentals but rather a general market sentiment and most stocks in energy / oil / gas sector got badly hit.