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Also, reading the different descriptions of the FCA investigation, it sounds like they are investigating the brokers primarily (i.e. the car dealers). This is very different to the PPI complaints where people were "mis-sold" an inappropriate, or in some cases useless, product. The punter needed finance, they were offered finance at a price, they accepted that finance. Are we responsible for nothing on our lives now?
Hmmm, looking into this it could present a problem. Whatever happened to the principle of "Buyer Beware"? Surely consumers would investigate alternative sources of finance for such a large purchase (like an old fashioned bank loan)? If they just want the convenience of taking what the dealer offers them and are happy with the repayments, where is the problem? I guess the FCA have to keep coming up with sources of income for ambulance chasing law firms.
Ever get that feeling that everyone knows something and you're fumbling around in the dark? I can't find any news out there that could prompt such a large fall. From around 785p on Wednesday morning it started slipping, then yesterday afternoon such a dramatic but weirdly steady fall. Not a single event drop, just relentlessly down. Has anyone found anything out there to even begin to explain?
I've bought in today at just a tad over 73p. Just dipped my toe in to start with, but I've been following this for a while and think either management will have to turn this around or it will be bought up at a higher price than this. Fingers crossed this will turn out to be one of those rare occasions where I actually bought at the bottom!
Plus the dealing charge and the stamp duty of course... The dealing charge I can forgive, but the stamp duty is a really irritating market distortion. It really makes such manoeuvres difficult to execute successfully, just another nail in London's coffin I guess.
Just sold my 23,000 shares. I'm so disappointed in this but just feel that even the meagre leftovers of my investment can make money elsewhere. I hate selling for such a chunky loss, but I have to face reality, money here is just dead money that could be working elsewhere. Good luck to anyone who still holds. I genuinely hope for the best come the January update, but fear the worst.
... and so following that idea through, buying a brand new home will suddenly look very attractive compared to paying an inflated rent to a greedy landlord, offering no security in your home. I hope the big housebuilders start to ramp up production in the coming year so that there is plenty of finished stock to sell to willing buyers.
It doesn't mean a single person bought a million shares. Think of it as balancing the books at the end of the day, for all of the outstanding bids and offers on the order book at the end of the auction period. It appears as a single trade, which it could actually be, but it is far more likely to be lots of smaller trades.
I hope you're right! I figured when I bought in that the 57p rights issue price from a while back would act as some kind of support, on the grounds that very rich people like the Alliance family don't invest millions in duds. The losses they are sitting must be enormous, which is not really much consolation for my own losses. I wish the company would put out more regular updates, we haven't a clue how trading is going coming into this key part of the year.
Owning this share has been so painful. Bought in mid 2021 at 50p and thought about ditching it this January (missed this years peak but could have got 36p shortly after). So here I am, still holding and not completely sure what I am holding for. What is going to turn this around? What is going to happen to make me not feel like a complete chump for still holding this? Anyone got any words of hope?
@LWHL - Do you mean SDRT? I'm not sure a land tax would have much effect on investments!
I think it's an interesting idea to make the extra subscription allowance applicable to UK shares/instruments. Trouble is, how do you measure it? Let's say I put £30k into my ISA, spend £10k on UK shares and £20k on US shares. If my US shares go up to £30k and my UK shares fall to £5k (let's face it, this is pretty much what has happened in the last few years) am I now breaking the rules? If I sell my UK shares do I now only have to buy £5k of some different UK investments, or back to £10k? I can see a lot of problems administering that over many years.
Lol... Did you even read what you just copied and pasted? They are "temporarily pausing" welcome offers in the UK. That is not the same as "stopping activities" as you say in your click-baity heading!
This testaccount is done!
Ooh, a rare mistake from Rivaldo. The Cumbria article was a good find, but the actual line from the story is
"I'm not sitting here thinking I want to be a £1bn enterprise in five years,” says Anand.
It's a small slip, but changes some of the meaning significantly! Still a good acquisition though... onwards and upwards!