Northern Crock

[RightLaugh]

down another 25% today. Looks like takeover price might be £1.

[bobhope]

made a few k going short, started going short early summer. Could have made much more, but didn't have the nerve.

[milanbenes]

you can rest assured lads, if I was to buy some they'd go down

Milan 'unlucky in shares' Benes.

[RightLaugh]

I bought a few weeks ago when they were in around 7.50.
I bought early pm (£7.40) and then sold early am (£7.22) the next day as I realised it was the wrong thing to do. Invested 2K only lost £100. Now that was the best move I have every done. I call this the best loss ever. I could of lost around £1.5K if I kept them.

[Bagpuss]

They rose from 160 to >£2 in the same day last week, it will probably happen again today

[BoredBloke]

I was going to buy some but was only planning on having them for 1 day. i.e. to benefit from the govt statement and make a quick buck. In the end I couldn't find a way to get them in time and so had to miss out.

[Bagpuss]

That link doesn't work Blaster


edit: that was fast!



"experts", these were the same people saying buy at £12 a few months ago.

[BlasterBates]

Yes a lot of

foolish private investors


bought stock last week and made a 20% loss in a few days.

As the article points out there are loads of "liquid" alternative shares much more likely to go up, so it looks like the "herding" instinct took over.

[Bagpuss]

They have lots of mortgage customers, the share price is lower than the asset value, it's been overdone as usual.

[realityhack]

Update - two U.S. hedge funds, JC Flowers and Cerberus, have been given permission to discuss a takeover, and LTSB is still in the game. Shareholders will get "diddly-nothing".

Sources:
Reuters
Bloomberg

[realityhack]

It'll be bought and asset-stripped/rebranded soon, there's no way they can recover, as they're borrowing from the market at a higher rate than their lending prices - they're bleeding money.

I wouldn't touch the shares with a bargepole. Alliance & Leicester was a better bet.

[milanbenes]

Anything new with Norther Crock ?

Their share price continues to tumble, right down to £1.50, was around £6.00 when they announced they would get cash from the BoE.

Did anyone have a punt, some here were making noise that they would buy early 2 weeks ago and be onto a winner.

Does NRK have any Customers left, have all of the Customers withdrawn their deposits ?

Milan.