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.
Shares in Metro Bank (MTRO) are up a tad this morning but I really do not know why. You know my long-held negative view of the company, which I last wrote here in May. For years now it has been rolling from one mistake to another and today it remains a desperately marginal business, with a thin balance sheet, dodgy loan book and multiple flaws. My personal view remains that the finally refreshed management team should conclude it is time to sell the book of assets to somebody with a bigger balance sheet. Sadly, I doubt whether there is any material equity value...
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