Amigo (AMGO.L) Shares Are Soaring 4.49%: How Long Will It Take To Recover?

The last three years were dreadful for Amigo as its shares entered the stagnation period. On July 16, the price is standing at 8.15 GBP with a surplus of 4.49% and 0.35 GBP since the previous close at 7.8 GBP. The company’s last jump was back in June of 2019 when the prices peaked at 276 GBP. The value Has dropped by 34.5 times since that period. Amigo is most probably losing profits as the EPS rate is -33.6. In 2019, the firm issued a string of disappointing financial reports, all of which revealed a steadily growing amount of loan impairments. Customers were not paying their invoices on time and the guarantors had to cover all the shortcomings.

As a result, the Financial Conduct Authority (FCA) received a large number of complaints, prompting an ongoing investigation and bringing the firm to where it is now. Amigo’s stock price has plummeted over 95% since the upheaval began two years ago. With these dull results, the company is slowly gaining strength with small soars in shares. Nevertheless, it will take months or years to recover from the decline.

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