RBS Shares

Andrew64

RBS shares closed at 10.3p. They are so low that I am tempted to buy and then sell the same day as nationalizations always occur at night! The question is, how many would I have to buy to turn a profit if, say, the price went to 12p during the day?

turbobob

I'm sure you can do the maths. Remember you pay stamp duty on share purchases and commission (around £12.50 per trade with an online sharedealing service) both when you buy and sell the shares. Theres also spread betting as an alternative to actually buying the shares.

Andrew64

Thanks! I think spread betting will be simpler in this case. Bit of a punt really on these shares, but I'll try my luck!

royeee

Andrew64 wrote: »

It's a mystery to me why anyone still holds RBS shares!

You need to look at the bigger picture as if one bought shares in RBS's prime days when it reached 600p it'll be a big loss selling them at 10p such that it wouldn't make significant difference it it comes to 0p whereas in holding on there's a chance nationalisation won't happen at all and the share price rebounds to a point where you can sell at a more acceptable loss or retain for the long haul. Its an individual decision everyone has to make.

IT_nerd

I'll put £100 on RBS shares if they reach 5 pence.
You never know, they may post smaller losses than expected, not get nationalised and be back at 400p in 20-30 years.

sabretoothtigger

Unfortunately 400p wont buy a loaf of bread in 30 years so that wouldnt be much of a recovery

IT_nerd

But 5p doesn't buy a load of bread now. So yes it will

Stavros_3

Shares up 24% today

RickyRah

Stavros wrote: »

Shares up 24% today

I'd like to think these bottomed at 10p. I got in at 30p and again at 11p so I'm holding on for the long road to recovery!

I think today's result and associated press coverage can only help things.