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Amigo shares surge 98% on FCA news but this is insanity on steroids

By Tom Winnifrith, the Sheriff of AIM | Monday 7 March 2022

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.

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.

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