Nothern Rock - is it a Good Buy or GOODBYE?

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LondonTraderUK said:

Nothern Rock - is it a Good Buy or GOODBYE?

Seeing as it hit 60, the lowest ever since, does anyone see this turning back and standing on its feet? and perhaps go back to 500 margin during 2008...

or it is badly in debt of what, 10billion? and the company is history now?

Click to expand...

It might come good - but why take such a risk?

NRK is a wounded animal and it is pretty ridiculous that is allowed to remain open to speculation. Do not waste your hard earnt cash on this company as it is finished. It has no business and the brand is utterly worthless. Any rescue package will buy the company for peanuts and the shareholders will be left with zero. What do I know!!!

LondonTraderUK said:

Nothern Rock - is it a Good Buy or GOODBYE?

Seeing as it hit 60, the lowest ever since, does anyone see this turning back and standing on its feet? and perhaps go back to 500 margin during 2008...

or it is badly in debt of what, 10billion? and the company is history now?

Click to expand...

I bought round about there but covered in the low 90s before the break above 100. Lost my nerve basically. Small profit, but I'd stay the hell away from this company, and Virgin Money, or whatever they want to call it.

I feel very bad for King though - it could not have been an easy time being the only sane person in a room full of posturing idiots. He was quite right to threaten resignation. One of the few great men in this whole financial meltdown....

Just my tuppence worth.... in my opinion I would stay away from Nothern Rock unless you're a pro Risk Arb guy simply because there is too much event risk in this whole debacle.

No matter how good a trader you are, one government decision could swing the value of the shares violently either way.