Northern Rock Shares Collapse
#151
Still looking very dodgy.
BBC NEWS | MARKET DATA
BoE have had to inject £10 billion into the market today!
BBC NEWS | MARKET DATA
BoE have had to inject £10 billion into the market today!
#153
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Still looking very dodgy.
BBC NEWS | MARKET DATA
BoE have had to inject £10 billion into the market today!
BBC NEWS | MARKET DATA
BoE have had to inject £10 billion into the market today!
#156
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#157
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#158
#161
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It's a dead cat bounce...
...could have been worse though - he could have bought 100,000 at the 316 and lost a few shirts.
Based on current price he is up £4,000 minus account costs - so breaking even ;-)
...could have been worse though - he could have bought 100,000 at the 316 and lost a few shirts.
Based on current price he is up £4,000 minus account costs - so breaking even ;-)
#164
Eek .. down even further.
NORTHERN ROCK Share Price Chart | NRK.L | GB0001452795 | Yahoo! Finance UK
Steve
NORTHERN ROCK Share Price Chart | NRK.L | GB0001452795 | Yahoo! Finance UK
Steve
#166
#169
#170
What a load of poppycock. It was patently obvious to anyone who is familiar with you on here that you had neither the intention, the funds nor the gumption to buy any of these shares.
Then you have the audacity to come on here with this primary school excuse as to why you never bought the shares... after they have dropped again! Had they continued to rise we wouldn't have heard a peep out of you, would we?...
Or would you have treated us to a barely credible fish story about how you are lavishly spending your winnings?
Then you have the audacity to come on here with this primary school excuse as to why you never bought the shares... after they have dropped again! Had they continued to rise we wouldn't have heard a peep out of you, would we?...
Or would you have treated us to a barely credible fish story about how you are lavishly spending your winnings?
You sound like someone's demented mum
#171
What a load of poppycock. It was patently obvious to anyone who is familiar with you on here that you had neither the intention, the funds nor the gumption to buy any of these shares.
Then you have the audacity to come on here with this primary school excuse as to why you never bought the shares... after they have dropped again! Had they continued to rise we wouldn't have heard a peep out of you, would we?...
Or would you have treated us to a barely credible fish story about how you are lavishly spending your winnings?
Then you have the audacity to come on here with this primary school excuse as to why you never bought the shares... after they have dropped again! Had they continued to rise we wouldn't have heard a peep out of you, would we?...
Or would you have treated us to a barely credible fish story about how you are lavishly spending your winnings?
Suresh, this guy is a seriously inadequate loser. He is the one with no 'funds nor gumption' and is projecting his own failures onto you. Don't laugh though...pity the fool
#177
187p now. I don't understand really as it is a viable business, with a very short-term cash flow problem. That problem was underwritten by the Bank Of England, and in the end they didn't need it.
Amazing how it can all go horribly wrong based on rumour and misinformation.
Steve
Amazing how it can all go horribly wrong based on rumour and misinformation.
Steve
#178
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The reason it is dropping so quick is that any potential buyer for NR will only do so at a heavy discount - one of my early posts mentioned 180 to 200p a share - that is less than the asset value of the company - but whoever buys them will need to cover the £17bn shortfall too. Someone will get a bargain, but that is business! Screw up and the vultures will circle and rip you to shreds.
#179
The problems with Northern Rock are a lot deeper than the short term credit crunch.
1. The brand is now tarnished, and is probably worthless. Banking relies on trust and that confidence would take years to regain. The only way they can continue in the near term is to be much cheaper than everyone else but...
2. Their business model relies on LIBOR and the base rate being close to be competitive. The credit crunch has opened a gap between these, which means that in the near to medium term product offerings are likely to be uncompetitive. It is highly likely that mortgage holders will switch to other banks when their fixed terms expire.
3. Final nail in the coffin - whilst the BoE has offered to prop up Northern Rock, that guarantee has explicitly not been extended to any suitor. That means that any bank buying has to cover the shortfall themselves. This does not make Northern Rock an attractive takeover target.
All in all? These shares are in for a rocky ride, they are stuck between a rock and a hard place and other appalling puns. Unless something above changes materially these shares are going to be seriously unpopular.
HM Gov doesn't care about the shareholders - they are there to take it in the shorts when the business model goes wrong - they only intend to look after the customers (and, to some extent, the employees if need be).
1. The brand is now tarnished, and is probably worthless. Banking relies on trust and that confidence would take years to regain. The only way they can continue in the near term is to be much cheaper than everyone else but...
2. Their business model relies on LIBOR and the base rate being close to be competitive. The credit crunch has opened a gap between these, which means that in the near to medium term product offerings are likely to be uncompetitive. It is highly likely that mortgage holders will switch to other banks when their fixed terms expire.
3. Final nail in the coffin - whilst the BoE has offered to prop up Northern Rock, that guarantee has explicitly not been extended to any suitor. That means that any bank buying has to cover the shortfall themselves. This does not make Northern Rock an attractive takeover target.
All in all? These shares are in for a rocky ride, they are stuck between a rock and a hard place and other appalling puns. Unless something above changes materially these shares are going to be seriously unpopular.
HM Gov doesn't care about the shareholders - they are there to take it in the shorts when the business model goes wrong - they only intend to look after the customers (and, to some extent, the employees if need be).
#180
Thought this was interesting though...
http://investing.reuters.co.uk/news/...RTHERNROCK.xml