Pity anyone who holds shares in Provident Financial, who announced a quadruple whammy yesterday;
a fresh profit warning, no dividend, an FCA investigation and the chief executive departure From here;
http://www.telegraph.co.uk/business/2017/08/22/provident-financial-shares-plunge-losses-deepen-boss-quits/In May of this year the shares were quoted at £32.
A week ago they were quoted at £19.
This morning they are £6.
It's pretty rare for a FTSE 100 Company to suffer such a one day fall as they did yesterday (which was on top of a big fall in June). The biggest one day fall is 67.8% by Ashtead Group, 14 long years ago. Provident fell 66.2% yesterday.
The Times summed it up rather cruelly this morning, saying it's a rum do when a Business that lends money at an APR of 535% can't turn a profit.