Stonk
Stonking
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Post by Stonk on Jul 30, 2019 14:18:50 GMT
What a perceptive point - definitely clickbait to me although Bob Smith could be a common name in India or wherever for 100 people working in a "link farm"
Good to see Ole Bobby Boy Smitty keeping up the pace. He's written 585 similar articles so far today (30 June), after starting the week on an absolute blinder with 1,162 articles yesterday.
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dorset
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Post by dorset on Jul 30, 2019 16:33:48 GMT
New low today. "Low 112.00" Usually when I see these sorts of falls, something major is up. The only news on the horizon is the interim results which should be due soon. This will give us an insight into the rate of cash burn. Otherwise I think the shares are just flat lining.
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Post by Mr Smith on Aug 2, 2019 6:21:57 GMT
New low today. "Low 112.00" Usually when I see these sorts of falls, something major is up. The only news on the horizon is the interim results which should be due soon. This will give us an insight into the rate of cash burn. Otherwise I think the shares are just flat lining. You're idea of flat lining and mine must be different to mine
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reinvestor
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Post by reinvestor on Aug 2, 2019 8:10:34 GMT
Off topic slightly but can anyone remember an IPO in the last couple of years that has gone well for shareholders?
All they are is the founder's well timed exit and payday!
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cwah
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Post by cwah on Aug 3, 2019 15:48:07 GMT
Off topic slightly but can anyone remember an IPO in the last couple of years that has gone well for shareholders?
All they are is the founder's well timed exit and payday!
Beyond meat launched at $25 and is at $177 now!
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ashtondav
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Post by ashtondav on Aug 3, 2019 16:09:22 GMT
How you can make a veggie burger that packs more calories, and has shed loads of saturated fat (coconut oil) than the real thing is beyond me, as well as beyond meat.
Consumers as well as wellas shareholders are mugs, sometimes.
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r00lish67
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Post by r00lish67 on Aug 5, 2019 16:53:31 GMT
FCH down another 4.7% today @ 104.8. A 76.2% fall since the IPO. Wow.
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dorset
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Post by dorset on Aug 5, 2019 17:44:40 GMT
Price has now broken through the lower boundary resistance level of 108p or so that has held for five weeks. Unless there is some positive news from the interms we could see the price drift down to a new lower level of what – 90p?
If this continues we could see a class action by the new shareholders against FC management and reporting accountants. Possibly the reporting accountants ignored the loan book as it was not an asset of FC but of course the state of the loan book is critical to FCs reputation and business sustainability. The dire state of the loan book was quite clear (see earlier blogs from here) in the summer of 2018.
Two further defaults for me today (22206 and 17834). This really is a train wreck in slow motion.
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Post by davee39 on Aug 5, 2019 17:45:40 GMT
Ultimately the company is worthless. They are still loss making and will struggle to raise fresh equity at current levels. Woodford is out of the game and the market has probably noticed a lack of Fairy Godmothers to prop up Falling Cascades. At least the founders got a good deal.
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Post by Deleted on Aug 5, 2019 21:19:22 GMT
Whilst the latest downward lurch in the share price is likely to be more about general market sentiment than FC specific, I did say earlier in the thread that I expected two key psychological FC price floors to be broken in due course. The first, £1, could be broken this week if there is no improvement in overall market sentiment. The second, 50p, I would expect to be breached within 12 months. There is an old market adage that it usually takes companies in a weakened state to issue three profits warnings before all the bad news is out in the public domain. Obviously every company is different but we will have to wait to see if this eventually applies to FC. I would not like to be their big Danish investor in the present circumstances. Price has now broken through the lower boundary resistance level of 108p or so that has held for five weeks. Unless there is some positive news from the interms we could see the price drift down to a new lower level of what – 90p? If this continues we could see a class action by the new shareholders against FC management and reporting accountants. Possibly the reporting accountants ignored the loan book as it was not an asset of FC but of course the state of the loan book is critical to FCs reputation and business sustainability. The dire state of the loan book was quite clear (see earlier blogs from here) in the summer of 2018. Two further defaults for me today (22206 and 17834). This really is a train wreck in slow motion.
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Post by shanghaiscouse on Aug 5, 2019 22:22:25 GMT
You are now seeing a run on FC with lenders trying their hardest to pull their cash and management trying desperately to offload loans through securitisations. Just one of the many problems of FC's business model is that you can be both a shareholder and a lender, so you can see all the underlying data on the loan book (unlike a bank) and this makes you panic when you think about your investment. With a bank, a shareholder can never see that level of detail and is blissfully unaware, and also protected by the bank's capital cushion and deposit protection up to £85k. Seeing the FC loan book, and the obvious poor underwriting standards as expressed in the notes to each loan, and the poor recovery record, strips it bare in a way that a bank is never exposed. On the other hand, if they were really on top of things then it might not be so bad, but the loan book is kind of testimony to just how bad their internal controls are.
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ashtondav
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Post by ashtondav on Aug 6, 2019 9:32:37 GMT
I think you are exaggerating, and in particular your claim of a “run” is merely based on this board. However there is truth in what you say.
However, I believe the company report on their 1st half in a few days and maybe that will provide some guidance. While they are bound to paint lipstick on the pig, auditors have toughened up since the last few scandals.
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Post by Mr Smith on Aug 6, 2019 10:23:08 GMT
I think you are exaggerating, and in particular your claim of a “run” is merely based on this board. However there is truth in what you say. However, I believe the company report on their 1st half in a few days and maybe that will provide some guidance. While they are bound to paint lipstick on the pig, auditors have toughened up since the last few scandals. I'd say it's almost impossible to have a run on a peer to peer lender, but I dont doubt for one minute something is gong on. A lot of people are pulling their money out, probably needlessly, but what impact that will have on FC remains to be seen. The British economy is facing a cliff edge right now, not because of Brexit but because of a massive debt bubble and gross mismanagement of the economy, I'd expect a lot of FC loans to go belly up in the very near future. If my money is stuck in there so be it, I can wait 4 years to get it back. but ultimately I will get most of it back.
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adrian77
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Post by adrian77 on Aug 7, 2019 8:25:22 GMT
totally agree although the MPs will blame Brexit.
I predict a mega correction of house prices - it has just got silly and I guess small companies etc that borrow from FC will be among the hardest hit. I always said FC started off well, got greedy, grew far too quickly and then started being involved with funny money - I just can't see them surviving so no regrets about selling my entire portfolio.
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reinvestor
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Post by reinvestor on Aug 7, 2019 8:52:07 GMT
Could drop below a quid today.....
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