Amigo (#AMGO) – AGM update, expects to propose an approx. £40m capital raise and a debt raising
- 2022-09-28 07:48:16
Yesterday, Amigo (AMGO) announced that the High Court had approved its revised business scheme. Since the FCA had withdrawn its opposition, that was no surprise at all. Seeing the shares fly to 9p was also no great shock, given the utterly insane ramping by Bulletin Board Morons. But the shares are now back at 7.5p, and are a fabulous short.
Lucian Miers’ (the bear raider) top three UK short positions are:
The FCA has today indicated that it will not object to the proposed recapitalization and customer redress package proposed by loan shark Amigo (AMGO) but there are a few horrid caveats and a doubling of the share price to 6p is quite literally insane making this a slam dunk short. Here’s why.