Close Brothers Share Discussion Threads

[riverman77] 01/3/2024 09:18

If you look at this logically I can't see how this can be anything like PPI. Remember commissions were perfectly allowable at the time, so we're only talking about instances where commissions were excessive. I just can't see the scale of any such wrongdoing to be anything like the amount to justify the recent sell off. The fact that shorters are closing positions, while respected institutions increasing their holdings (who will obviously know a lot more about what's going on than me) suggests this is massively overblown.

[karv1] 01/3/2024 07:39

It all sounds good, What I do not get is why people would sell unless you bought in last 10 days yours most likely going to be as sitting on a loss. I guess some might be trading but I suspect most have decided there position on cbg already. The only news we had is from Lloyds saying this is nothing like ppi with a smallish provision while the big investor's are increasing there positions.

[blueclyde] 01/3/2024 00:09

As I mentioned previously the volume simply is not there to do a large amount of trading. The fact that the two biggest shareholders are buying which they would have had to clear with their compliance department is telling.

[cyberbub] 29/2/2024 18:14

It's only a modest increase but still a vote of confidence from a reputable insti. They may still be adding... Also they may have gone over 10% so they get a seat on the board, and help steer Close out of these choppy waters... which would also be welcome!

[blueclyde] 29/2/2024 16:53

Do the biggest shareholder with 10 percent of the company is increasing their position. I presume they can pick up the phone to management. That will do me.

[blueclyde] 29/2/2024 16:43

Well there is your holdings RNS. Aberdeen Asset Management increasing their position.

[blueclyde] 28/2/2024 17:52

Wonder if we will get a holdings RNS soon. Seems like they did a little tree shake today to fill some big trades.

[karv1] 28/2/2024 06:04

Let's hope for another great day with another 5% gain
It would be great to help build up .momentum, surely you agree higher the price better it will be for us all popit.
On the benefit side the shorters will lose money if there are any left

[popit] 28/2/2024 03:08

Do not see these going much higher without more information from the FCA in September

Good news could take it back to over £5 but bad news could easily send it crashing to new lows at £2

[blueclyde] 27/2/2024 21:42

More importantly it rose on average volume today. Nobody is interested in selling that is left and anyone that wants to buy is going to need to bid up the price...

[cyberbub] 27/2/2024 17:59

Closed above the previous high of 354p... Hopefully will continue higher for the rest of the week...

[blueclyde] 27/2/2024 16:44

Who knows the NAV is 918p a share. Price has been up to 1700p a share. Institutional money will have do their research and come up with a price.

[cyberbub] 27/2/2024 16:10

I doubt we will get back to 900p without hard evidence (which may come in September... just 7 months away...) that the latest claims saga will be easily recoverable by CBG. But I could certainly see 450p or 500p at a push, in the run up to the results in 3 weeks time...DYOR etc

[blueclyde] 27/2/2024 15:40

Absolutely everything I can see points to the fact this stock capitulated more due to the weak UK markets than anything else. I doubt the company expected this when they paused the dividend. The algo that has been buying all day is not getting many shares in the grand scheme of things and the price is flying. Could easily trade back up to 900p a share as institutional investors try take a position.

[karv1] 27/2/2024 15:09

This stock has been 1600 and excluding virus and Brexit has probably averaged around the 1200to 1500 over the last 5 years plus.
The company is sound with a 20% dividend even though it’s on hold currently, where else will you have the possibility of up to a 400% return including dividends in a possible time frame of 3 years…….
We do live in a world of total fear in uk of losing what ever we have, which has a compounding effect on the share price.
If this stock was in the states this stock would have dropped by 10% then rebounded straight back up while being valued at around 2 billion plus.
if a worst case share right issue happened in the states it would have dented the share price for a short time.
In the uk fear has driven the share price down so much that a worst case rights issue suddenly looks really dangerous to many which drives the share price down even more to ridiculous value.
On the positives side great buying opportunities.

[dplewis1] 27/2/2024 12:52

Yes all trade conditions are tagged as algorithmic, trader might have forgotten to put a percentage of volume cap on it :)

[blueclyde] 27/2/2024 12:42

Algo scooping up all the shares. Volume is so chronic that this will get sent if significant volume is to be bought as nobody selling at this price.

[blueclyde] 27/2/2024 12:12

Looks like some sort of algo at work trying to accumulate shares.

[karv1] 27/2/2024 08:22

I think I am going with the information that the Lloyds CEO has said and hope he has a fairly good idea of what he talking about. I am now sitting on 200k was 230k was tempted to sell but am going to keep, time will tell if this was the best or worst gamble ever.

[blueclyde] 26/2/2024 09:26

I imagine the brokers loaded up when it went sub 300p. Open at 340, trigger some selling down to 320 then close it at 340 again. Will be the same pattern until more concrete news then I guess if the news is positive it will open out of the gates at 800p a share.

[tsmith2] 26/2/2024 09:06

same daily pattern

[suetballs] 26/2/2024 08:59

Interesting to watch the shorts and the longs.
Suet

[blueclyde] 26/2/2024 08:27

It is clear to see this is nothing like PPI. PPI were sold a product they did not need. In this instance everyone bought a car with the loan they were sold..