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PRESS: Blog That Sent Blinkx Shares Plummeting Gets Amended - Telegraph

Fri, 14th Feb 2014 11:43

LONDON (Alliance News) - Ben Edelman, the Harvard professor who wrote a blog criticising AIM listed advertising data company Blinkx, has amended his blog, taking out one of his key assertions, The Daily Telegraph reported Friday.

On publication of the blog, which was paid for by anonymous US investors, Blinkx shares almost halved in value. The professor had claimed that a company called Local Weather had deceptive advertising practices, pretending to be independent while actually being part of Blinkx. However, this was found to be untrue, with the real independent owner of Local Weather defending Blinkx, the Telegraph says.

CMC Markets senior sales trader Toby Morris said: "The Blinkx roller-coaster of the last few weeks continues today with even more controversy that at times borders on the ridiculous". Friday's update is "a welcome endorsement given the circumstances", Morris added.

Blinks shares are up 4.8 pence, or 4.2%, at 119.3 pence Friday morning.

By Jon Darby;; @jondarby100

Copyright 2014 Alliance News Limited. All Rights Reserved.

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