|
Post by Mr Smith on Aug 7, 2019 9:46:43 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. I think many now sees the crazy house prices for what they are, destructive. People are priced out of moving, those magic gains pushed up their house price but made it impossible to trade up, worse than that it rewarded Londoners massively who've moved out of London and paid well over the odds all around the capital. I pointed out to a divorcing friend who hoped prices would shoot up before the divorce came through, so she "could afford to buy somewhere with half the money". 10 minutes later and some simple arithmetic I showed her it would be better if they collapsed before she got divorced, totally counter intuitive to her and couldn't believe she'd been duped into thinking higher prices = good. If FC are balls deep into property lending ( esp London ) then we could see some huge losses for investors. Will they be bailed out like the bankers, I doubt it very much.
|
|
|
Post by Mr Smith on Aug 7, 2019 9:48:12 GMT
Could drop below a quid today..... 103.20 GBX −3.80 (3.55%)
|
|
IFISAcava
Member of DD Central
Posts: 3,684
Likes: 3,008
|
Post by IFISAcava on Aug 7, 2019 10:27:31 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. I think many now sees the crazy house prices for what they are, destructive. People are priced out of moving, those magic gains pushed up their house price but made it impossible to trade up, worse than that it rewarded Londoners massively who've moved out of London and paid well over the odds all around the capital. I pointed out to a divorcing friend who hoped prices would shoot up before the divorce came through, so she "could afford to buy somewhere with half the money". 10 minutes later and some simple arithmetic I showed her it would be better if they collapsed before she got divorced, totally counter intuitive to her and couldn't believe she'd been duped into thinking higher prices = good. If FC are balls deep into property lending ( esp London ) then we could see some huge losses for investors. Will they be bailed out like the bankers, I doubt it very much. I detect some prejudice. I am all for pointing out the negative impact of excessive house prices, with which I wholeheartedly agree, but I get a bit tired of being bashed for where I was born.
|
|
Stonk
Stonking
Posts: 735
Likes: 658
|
Post by Stonk on Aug 7, 2019 10:27:57 GMT
Could drop below a quid today..... 103.20 GBX −3.80 (3.55%) Just did - 99.60 right now.
EDIT: Plenty of trading around 96.90 now. Some poor blighter sold at 93.70 (or should that be "lucky blighter"?). A few smallish sells in sequence at 11:22am seems to have disproportionately spooked the market and knocked the price for six, so there may be a recovery in due course.
|
|
ashtondav
Member of DD Central
Posts: 1,812
Likes: 1,088
|
Post by ashtondav on Aug 7, 2019 10:32:40 GMT
Results announced tomorrow. There’s obviously folks with some inside info...
|
|
|
Post by rookyone on Aug 7, 2019 10:53:24 GMT
Oh dear... Not looking great is it...
|
|
|
Post by Mr Smith on Aug 7, 2019 11:24:35 GMT
Oh dear... Not looking great is it... 95.10 GBX −11.90 (11.12%) No, it's not. That's why I started the thread. it doesn't look to be flat lining at the mo. Thought it would have more support at 100, I'll hold out for 50. I just hope they hold out long enough for me to get my money out. If it had been 60 days from my previous sale. I'd have been out 5/6 days ago, think I have about a 10-14 day wait still, maybe more. Others to watch if you are interested in keeping an eye on a couple of shares that might give a good indication of when the UK debt bubble has burst....Persimmon and Dominoes Pizza. Dominoes is particularly mad, they sell flour and water with tomato and cheese on top, it's a sandwich make effectively. I am probably wrong but even without brexit we were heading for turbulent times.
|
|
|
Post by Mr Smith on Aug 7, 2019 11:27:27 GMT
Results announced tomorrow. There’s obviously folks with some inside info... Regretting not starting my sell out 3 weeks earlier
|
|
ashtondav
Member of DD Central
Posts: 1,812
Likes: 1,088
|
Post by ashtondav on Aug 7, 2019 11:38:08 GMT
LSE today has FC on a market capitalisation of £372M. I reckon 1 * revenue is a reasonable target market cap. so the value investor would jump in at a cap of maybe £160M. so a share price target of 40p to 50p seems reasonable, and i would buy at that.
|
|
dorset
Member of DD Central
Posts: 281
Likes: 187
|
Post by dorset on Aug 7, 2019 12:28:02 GMT
The failure to meet revenue forecasts is presumably already priced in from the 2 July announcement. Possibly the interims are going to show an accelerated cash burn which may require a further cash call – good luck with that FC.
Given the drop before the 2 July announcement and the drop today then someone seems to be enjoying a bit of insider trading.
|
|
|
Post by happyhippy on Aug 7, 2019 12:28:56 GMT
Would the company stay afloat at that price? Sorry for the ignorance. Or would it be a takeover? Or New management?
|
|
ashtondav
Member of DD Central
Posts: 1,812
Likes: 1,088
|
Post by ashtondav on Aug 7, 2019 13:23:40 GMT
Not necessarily an isssue for survival. For example Amazon's shares fell 80% in 2000 and another 30% in 2001. And that's an exciting fast growth company.
Let's wait and see what the announcement tomorrow brings - but the selling this week does not bode well, as it's likely either inside information or hedge funds selling.
|
|
|
Post by Mr Smith on Aug 7, 2019 13:31:46 GMT
Would the company stay afloat at that price? Sorry for the ignorance. Or would it be a takeover? Or New management? Any share price above 0 is viable it's, if, and how fast, it get's to zero is the big question. Have you looked at the trust pilot reviews? When I took my first load of cash out there were several negative reviews about sell times. Now there are pages of them !!! The borrowers love it, the lenders hate it. No one with any sense will be putting their money in if they see those reviews. Which explains the extended sale time I think. Funding Circle ( whom i'd expect to be reading this forum ) really need to get this sale time down somehow which will generate some positive good will, positive posts How they achieve that is another matter.
|
|
ashtondav
Member of DD Central
Posts: 1,812
Likes: 1,088
|
Post by ashtondav on Aug 7, 2019 14:00:32 GMT
Also suspicious is th efact that according to the FC blog its last press release was end April. Before then there was at least 1 press release each month - which you would expect from a fast growing company.
How much will be revealed in the announcement tomorrow, I wonder.
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Aug 9, 2019 11:20:26 GMT
117.2 Things must be looking up!
|
|