At the start of this month I looked into buying shares in one or more of the companies dealing with personal insolvency and IVAs - Debt Free Direct and the like.
I'm glad I dithered. Their shares have taken a hammering recently:
Accuma, ACG, up 21% in the last year, down 12% in the last 2 days.
Cleardebt, CLEA, down 10% in the last year, down 17% in the last 2 days.
Debt Free Direct, DFD, up 182% in the last year, down 13% in the last 2 days.
Debt Matters, DEBT, up 172% in the last year, down 12% in the last 2 days.
Debts.co.uk, DETS, down 4% in the last year, down 11% in the last 2 days.
No real accounting for it. An article in the Indie says there's a two track market developing where corporate debt management stocks are outperforming personal debt.
It goes on to point out that Debt Matters was forced into issuing a statement saying it didn't know of any reason for the share price falls.
Could it be the market thinks the Great British Consumer might not get so badly burnt by debt after all, or is this just an example of how a bubble that formed in the share prices of these companies is bursting?
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