Provident Financial Share Discussion Threads

[smurfy2001] 27/2/2018 09:49

One time you can thank the shorters for gifting such a cracking rise.

[chrisgail] 27/2/2018 09:49

This really is a short squeeze.............enjoy

[umitw] 27/2/2018 09:46

Wouldn't it be nice if it was up 100% today.

[umitw] 27/2/2018 09:45

Never experienced any thing like this rise b4!

[tsmith2] 27/2/2018 09:45

Wow indeed. Short squeeze

[retsius] 27/2/2018 09:43

Realbromley
Point taken but it is the significant shorting element that has produced the spectacular rise.

[realbromley] 27/2/2018 09:43

Thanks leedskier. I will be amazed if this doesn't drop back massively, if not later today then over the remainder of the week.

[srpactive] 27/2/2018 09:40

It did gap down from 1700p to 1000p, so a
break above that could be fun for longs here,
I hope you all do very well here, I do not
hold by the way, just happy to see the rise.

[leedskier] 27/2/2018 09:39

realbromley, this move up is in large part technical and reflects the need for short sellers to buy back shares in a company which does not have many shares in issue and even less as free float.

[realbromley] 27/2/2018 09:35

So, the results show there is a plan in place. But a 60% (and more?) rise on the day? Is there really that much to celebrate here? Let's not forget this is a company announcing a significant loss for the year.

[chrisgail] 27/2/2018 09:30

If the shorters have left themselves exposed to the rights issue they will be really hurting this morning hence the panic buying. If us lot stopped selling we could see very large gains!

[chrisgail] 27/2/2018 09:27

All shareholders will get the 'right' to subscribe, that's why its called a 'rights' issue and not a placing. Our brokers will contact us, if we do not take our rights up then those shares will be sold to the under writters.

The shorters 'may' have the problem they need to offer the new shares to those they have borrowed the stock from, that sounds very painful.

[scemer] 27/2/2018 09:27

The bit I never understand is the low volume shown for all the shorts that are supposedly closing when their is such a large amount short

[umitw] 27/2/2018 09:24

Do u think it will hit £10 today?

[smurfy2001] 27/2/2018 09:22

@sippguru - 900p target reached. You got your target l got mine :)

Good luck all never seen a rise like this for a rights issue but then the stock is massively shorted.

[umitw] 27/2/2018 09:18

And... some were short from £15..!

[leedskier] 27/2/2018 09:12

If it is a rights issue all shareholders participate ... in due course every shareholder will be credited with nil paids in the ratio set out in the RNS this morning ... the fact that it is underwritten simply means that the underwriting banks have agreed to buy any shares which are not taken-up by those entitled to do so.

It is normal when there is a rights issue for the lenders to recall shares loaned. Those who borrowed to sell short have to cover those sales to return the shares to the lender.

[umitw] 27/2/2018 09:11

Looks that way smurfy. £9 here we come .

[srpactive] 27/2/2018 09:11

Do not hold here but glad to see it rise, good luck
to all here and Mr. Woodford, now for the next of his bombed
out stocks to rise, dyor.

[umitw] 27/2/2018 09:10

It is auction now.

[smurfy2001] 27/2/2018 09:08

umitw, nothing to suggest PI's won't be able to participate in the RI?

Just watching from the sidelines to see if my 900p target is hit, i'll be surprised if so o.O

[umitw] 27/2/2018 09:04

What goes down can go up as well! Best morning ever! :-)

[dealy] 27/2/2018 09:04

Glad the shorts got shafted here

[umitw] 27/2/2018 09:03

Smurfy I think the share RI is fully underwritten. May be no offer to PI...what do you say?