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Amigo – the company where a 31% impairments ratio is just a cost of doing business

By Chris Bailey | Thursday 28 November 2019

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

I know it is Black Friday tomorrow but if you want some black humour then I point you towards an article in this morning's broadsheet press about the horribly expensive lending facilitation company Amigo (AMGO) which observed that 'Investors who bought at 275p in the flotation in July last year have lost 78 per cent of their money'. I can imagine the wealth of many people who have utilised the company’s services has been equivalently impacted...

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