Metro Bank Share Discussion Threads

[eggy6198] 10/5/2019 10:58

Profits dropping market ahare dropping accounting errors bad press. This boy is still underwater buy at 450

[alexios1201] 10/5/2019 10:52

What happens if there is a Debt element announced???Cash from £350M RI's will increase CET1 14.4% to 26.5%, which will leave all the troubles behindWorth considering thisShorts will be closing soon IMOJust a thoughtNot buying yet anyway

[eggy6198] 10/5/2019 09:01

Bar the nees says 450

[tsmith2] 10/5/2019 08:41

Short a very crowded trade and usually when THEY use press to feed frenzied stories, it's one last squeeze before reducing just observations. No position

[eggy6198] 10/5/2019 08:22

No chance shaking shorts for once haha

[tsmith2] 10/5/2019 08:12

big up day?

[alexios1201] 10/5/2019 08:01

Metro Bank seeks extra cash as it hits fresh lowKatherine Griffiths, Banking EditorMay 10 2019, 12:01am, The TimesMetro Bank could substantially increase the amount of capital it raises in a planned rights issue and unveil a new management team as part of efforts to stabilise the high street lender reeling from an accounting blunder.Shares in Metro slumped another 8 per cent yesterday to a new record low on speculation that the bank could tap investors for even more than the £350 million it said in February it would raise. Banking sources said that they expected the bank to have to change its senior management as the price for its recent mistakes and the sharp fall in the share pricehttps://www.thetimes.co.uk/article/metro-bank-seeks-extra-cash-as-it-hits-fresh-low-kb5b7rpxq

[bobbybullet] 10/5/2019 03:24

I'm planning on the lower end of that estimate, when do the RIs every pay more. So target 400p. Plan to close my short at ~420p :)

[mrjackpot777] 10/5/2019 00:08

why you never managed?

Maybe you missed it.

[chucko1] 09/5/2019 19:34

ElCap, I’m jealous you could get the short on!! I was trying to short this at 3200p. Never managed.

[elcapital2018] 09/5/2019 18:13

happy with the turn i took chunky.

[chucko1] 09/5/2019 17:13

I was talking to someone who really knows about these things (he was the CEO of a similarly-sized foreign troubled bank). His view is that it’s actually worse than it sounds. That was my initial view, but this chap knows a lot more about these things than I do.

To be clear, capital miscalculation is likely only a part of the bank’s problems.

ElCap, you ought to have taken Odey’s advice and shorted from 2000p (he has been short from over 3000p, in fact, but added as it fell)!! That said, I’m not sure he saw it fall my this low. This is ugly. Looks now like it will go lower, but pretty risky to short now, even if you can find a lender.

[elcapital2018] 09/5/2019 16:38

Well closed my short too early but took 120 odd p out of it.

[kemche] 09/5/2019 16:18

Be honest now, who among us has not misapplied a risk-weighting to 900 million pounds worth of loans at one time or another in our life. Happens to the best of us. These minor oversights are very common.

[tomboyb] 09/5/2019 16:13

Tis a shame -

Bank service I've found to be pretty good -

I do myself have a deposit box - !

[h2owater] 09/5/2019 16:09

Metro Bank Shares Fall Further as Short-Sellers Pile PressureBy Harry Wilson9 May 2019, 14:25 BST Lender is the most heavily shorted stock on the London market Metro is attempting to raise 350 million pounds from investorshttps://www.bloomberg.com/news/articles/2019-05-09/metro-bank-shares-fall-further-as-short-sellers-pile-pressureMTROMETRO BANK PLC515.00GBp-75.00-12.71%Metro Bank Plc shares slumped to a fresh low as investors bet that the struggling British lender will fall further as it attempts to raise 350 million pounds ($455 million).The bank is the most shorted company on the London market, with 13% of its shares out on loan to funds speculating on its stock price falling, according to data compiled by Bloomberg. Many investors have raised their bets against the bank since February, when it revealed problems in the way it classified certain home loans.Odey Asset Management LLP has taken the largest short against Metro with a 3.83% position, which topped up earlier this month. Marshall Wace LLP has the next largest short with a trade worth 1.89% of the bank's shares, which it also increased this month.Shares in Metro were down more than 10% at 2:09 p.m. Thursday and on course for their lowest close since selling shares in 2016. On Wednesday, the stock lost just under 7% and the shares are on a five-day losing streak, their worst run since March. The bank, founded by American entrepreneur Vernon Hill, has lost more than two-thirds of its market value so far this year.Results last week from the bank showed that some business customers had withdrawn deposits since its accounting problems were revealed, sending its shares and bonds tumbling. Metro has said that it expects to complete a fundraising by the end of this quarter."I believe it is dropping as investors become increasingly aware that Metro will need to do another capital raise next year if it only raises 350 million pounds this year. So, they might scale up the issue, which means a deeper discount, I would suspect," said John Cronin, financials analyst at Goodbody.A spokeswoman for Metro Bank declined to comment on the share price fall.

[tomboyb] 09/5/2019 15:46

And it keeps going down -

If that placing target is accurate then this still has a bit more to fall -

Ski slope chart -

[kemche] 09/5/2019 15:43

"but noted regulatory investigations into the problems were ongoing."

The astute with fiscal acumen continue to average down with hope of £20 on the morrow.

[gripfit] 09/5/2019 15:35

£5:00 going to be gone soon ,,, kin nightmare....