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Post by nooneere on Feb 8, 2020 18:39:10 GMT
Err... Samir Desai is the CEO, he's still there I think. My bad. Meant CFO of course. If or when Samir departs it will be seismic for the company, a complete new order. He is the name to watch and there will be an instant new thread on this forum for that event.
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Post by bernythedolt on Feb 9, 2020 1:51:57 GMT
How do you explain the share price dropping like a stone? Lisa Jacobs MD, ex-Chief Strategy Officer in the IPO team: "We don’t look at it on a daily basis”. 😁 "...the share price moves due to things that aren’t in our control". Pretty persuasive stuff. But this caught my eye... "We’ve stress-tested the book – ‘What happens in these different scenarios?’ And even if losses doubled, our investors would still make money.” - Lisa Jacobs, MD. A bold claim, given the many reports on this board of lenders just about scraping home with the tiniest margin - and that's with losses at their current level. In light of the PPI scandal, such exhortations to invest would seem rather imprudent though, so FC must really believe their hype (even if some of us struggle).
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Post by WestonKevTMP on Feb 9, 2020 21:35:14 GMT
This might make some investors feel a tiny bit better;
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Post by Mr Smith on Feb 28, 2020 8:42:29 GMT
Down 87% from peak now.
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Post by shanghaiscouse on Feb 28, 2020 17:48:30 GMT
"Peak" being the day of the IPO....
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Feb 29, 2020 12:33:08 GMT
At least they've outperformed the FTSE100 this week
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tjtl
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Post by tjtl on Mar 6, 2020 16:54:00 GMT
Down to 61.4 pence.
All time high was the issue price- since then it has been a steady (and not so steady) loss of gravity. And the impact with the ground will be painful. I know it has cash to keep going for a while, but it looks uninvestible.
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davidkent
I think. Therefore I am.
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Post by davidkent on Mar 7, 2020 17:45:49 GMT
Happy to watch the FC show from the sidelines now.
Ditto. I wonder what percentage of P2P investors of the period, say 2015-2018, have dropped out completely?
I didn't worry about returns as they were reasonable, but I felt increasingly bewildered and exasperated about some of
the borrowers to whom loans were given.
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tjtl
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Post by tjtl on Mar 9, 2020 7:35:43 GMT
Piece in the Times today- not much new news, puts the boot in to "one of the worst performing" IPOs in recent years. But does say that the results are expected Thursday (the 12th), and losses expected to be £56 million.
With a rapidly depleting cash pile I see no reason to stop selling everything I have on the platform- going concern must be an issue within the next 12 months (auditors won't wait for all the cash to have been burnt before qualifying the accounts).
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Post by gravitykillz on Mar 9, 2020 7:42:58 GMT
Share price should halve in the coming weeks. I predict 35-40p by the end of April
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ashtondav
Member of DD Central
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Post by ashtondav on Mar 9, 2020 8:35:02 GMT
Share price should halve in the coming weeks. I predict 35-40p by the end of April Why? I think many here are thinking their poor experience as a lender means the business is doomed. Viewed from a customer perspective (the borrower) they are delighted! FC is not losing money because of bad debt, you are. FC is losing money because it is spending so much on advertising and admin. I will defer judgement until the results.
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Post by gravitykillz on Mar 9, 2020 9:14:12 GMT
Share price should halve in the coming weeks. I predict 35-40p by the end of April Why? I think many here are thinking their poor experience as a lender means the business is doomed. Viewed from a customer perspective (the borrower) they are delighted! FC is not losing money because of bad debt, you are. FC is losing money because it is spending so much on advertising and admin. I will defer judgement until the results. More ppl will pull cash from p2p due to: A. Fear of corona B. Wanting to invest in equity which look like good value. C. Fear over platform shutdown/suspension if staff at fc contract corona. D. Unknown impact of Brexit. E. All of the above
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Post by gravitykillz on Mar 9, 2020 9:17:19 GMT
F. Economic impact/rising default levels as businesses trade less due to everyone staying at home thus are unable to pay back loans
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Mucho P2P
Member of DD Central
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Post by Mucho P2P on Mar 9, 2020 9:42:29 GMT
Share price should halve in the coming weeks. I predict 35-40p by the end of April Why? I think many here are thinking their poor experience as a lender means the business is doomed. Viewed from a customer perspective (the borrower) they are delighted! FC is not losing money because of bad debt, you are. FC is losing money because it is spending so much on advertising and admin. I will defer judgement until the results. As lenders lose money, old and new lenders refrain from placing new funds into FC. No new funds = no liquidity to lend to whatever class of borrowers = No turnover = failed business.
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Post by gravitykillz on Mar 9, 2020 9:44:44 GMT
On the other hand if the government cuts rates further that may impact on more people dumping money into p2p coupled with the approaching isa season. There are too many variables. But the most likely one is negative.
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