Sitting at +115% right now, living the dream
āSanctions announced in the period between 9 March and 30 March did not have a material impact on the business of the Group.ā
So business as normal , near enough
Good for you mate. I bought in late but still 90% up.
My cynicism tells me itās because there is a potential financial impact somewhere along the line for FT. Cannot think what, but given they created a gamified trading app, then whatās the deal with people loosing with POLY.L? I donāt get it. We can buy big in with GRAB and watch it drop by 60% or so, yet GRAB is still available. All rubbish to me.
I actually bought in ātoo earlyā - although timing the exact bottom is never easy - to have seen massive gains just yet, but back in the green by 10%+. Still about 3.5x potential back to itās previous trading price before the crisis and sanctions.
If you bought right at the bottom you must be laughing now, massive upside although still a bit of a risk, but it was worth a punt. As the situation resolves (hopefully soon), the share price will bounce back, it has very strong fundamentals.
Yes this whole affair has made me realise that the brokers who suddenly stop their customers accessing shares arenāt real brokers. A broker who just turns off the tap when it suits them isnāt in my books a proper broker. You want to be able to trust your broker during varied market conditions. Itās one thing to give us warnings but another to take away our choice.
Long term I think this kind of decision making will turn away investors to other platforms. Iām on Freetrade because it seemed like a good bet for a small beginners portfolio but in time I could see myself moving to a more āmatureā environment.
Iāve been with Freetrade for about 4-5 weeks and I have to say - Iād rather pay Ā£12.50 per trade to Hargreaves Lansdown for the 100% return I could have made.
I switched to Freetrade for the free trading. I then complained I couldnāt purchase Polymetal at about Ā£1.40 - itās now Ā£3.
This app suddenly doesnāt seem so cheap anymore.
Or use Jarvis XO and pay Ā£6 per trade
Agreed! I decided I wanted to put Ā£500 in polymetal at 120p. I then went on the app and couldnāt trade it so I didnātā¦ missed out on a good quick profit because of Freetrades moral decision for me. Iām not happy and I am too thinking of looking elsewhere
I donāt believe that this was a moral decision. Has anybody actually asked Freetrade why you cannot submit a buy order?
elevated levels of volatility
Todays bid ask spread was around 5% which is pretty wide and speaks to a priced in risk. It would normally result in orders being rejected.
There are number of other shares where spread is more than 5% so does it mean that FT should block those ? Thank god I havent moved majoriry of my HL powerfolio to FT. For me FT is still in startup phase and just for fun rather than real investing.
Freetrade probably didnāt like that it was one of the top ten traded stocks that they have to publish on twitter. Given its Russian links its not a good lookā¦
Can we please stop speculating? Pop your tin foil hats back in the cupboard.
@tinku333 I was answering a question regarding the spread. Youāre a correct that there are plenty of stock with a wide spread on the platform but these are also stock with a high failure to execute rate. I have no idea, like us all, if this is the reason.
@trade Freetrade have 1.3m customers they frankly do not care if a business linked with Russia is on a twitter link they post once a week.
Iāve asked for an explanation and hopefully weāll see something from the staff. Until then we risk this thread getting locked so going off topic.
Price down 45% over the last week.
Time for a top up?
https://www.thearmchairtrader.com/polymetal-share-price-forecast-april-2022/
The war must end soon. Things will start improving
End soon? It wont.
Russia might be retreating from the north, thereāll be more pushing inwards from the east, and the southern coast towards Moldova. At best this will end up being a longterm hostile stalemate, which will result in longer term sanctionsā¦ Putting Russia back into the same playground with other countries will take longer.
If Poly is still pulling from the ground, then they might have over source given they cant sell to the same levels they wantā¦
Assuming, given the ongoing sanctions, Russia doesnt just nationalise the various areas (given they know theyre not going to be playing with the west for a long, long time), shares will just pretty much vanishā¦ - You can own shares of a head office with no production
Well thatās a bit of a defeatist attitude
It should all be over by the summer.
Look on the bright side.
Anyway
Deloitte LLP has resigned as auditors
https://www.polymetalinternational.com/en/investors-and-media/news/press-releases/08-04-2022/?month=&q=&year=2022¤t=1
Blackrock upped their shares in Polymetal. A few other well-known firms have bought in as well when itās share price tanked. Thatās not evidence that it will bounce back straight away, but a good sign that these firms, who have a ton of resources when it comes to analysis and research, think that it will bounce back, at some pointā¦
The difference is though, these institutional players can afford to wait several years. I think itās a matter of patience really but with all that said, I have been tempted to sell out recently given the stockās overall volatility and the ongoing conflict in Ukraine, although my investment is not that massive anyway (circa Ā£100) so I think I may just hold for a while longer.
When you step back from the noise and the daily fluctuations, all the signs are that this stock will bounce back as soon as the conflict resolves and all those who bought at decent discount will be rewarded.
It appears the reason for the 15-16% drop as of now is that they suspended the dividend vote/payment - https://finance.yahoo.com/m/adf0655e-e350-3074-976c-32690b502e9c/russian-gold-producer.html
I wouldnāt bank on anything yet