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Hi TroubleT I am out of Telit at a small loss, looked good to me when things were going well, but registered in Channel Islands and the Boss indicted in the US, mean't it was time to bail out for me. I wish you the best and the Coy is probably massively undervalued right now cos of the overreaction. Small Coys always have issues, get the timing right it is great, else not so great. Microsoft was a small company once! BoL
Who benefits the most from scare stories and fears https://shorttracker.co.uk/company/GB00B06GM726/
I think you can probably trace the origins back further than that. Very curious why they had to change nomad just at results time. Looks to me like someone "leaned" on canaccord to pass them to fincap. Very conspiracy theory!
This was definitely not the first "punch". Lets hope its the last one. There's been a relentless series of apparently random stories from the likes of S Prophets, builtin board posters apparently compelled by their sense of altruism and now Sky News, which the company as shot down with a god RNS. All of which kicked-off after the Catz story broke - all suggesting "the company is dodgy". Each one has hit to the SP. Perhaps I'm finding it difficult to rein in my imagination but these stories seem to be timed to detract attention from the progress and good news issued by Telit. The recovery from this morning's deep could be interpreted as indicating broad support for Telit and it's future. Let's hope the recovery continues. GLA.
Does looks like more orchestrated action ... just saying. Questions is if this is the first punch .. what is the second?
I agree completely this story has been out for weeks and remedied by what is remaining of the Board. Someone does NOT like Telit
Someone's really trying to drive the share price down. The timing of these stories is very suspicious..... First Catz discovery, then the series of alleged irregularities broadcast by ************* and now fake news media throwing crap around. These stories seem intent on trying to weaken sentiment - I don't buy it! Mainly because in the background the company and its products are making great strides towards becoming a sector leader. Which is why it's attracting so much interest - mystery Chinese investor building a stake..... And the recent story published buy the FT (Telit attracts private equity interest).
They are just telling us something we already know
11:23, UK, Thursday 02 November 2017 https://tinyurl.com/ycnthcrf
There's an FCA investigation announced into Catz and director share dealing. I'm holding because I think the damage is already done. Hoping this is an over reaction to investigation into historic events and that it will climb back up. In some respects the investigation could be a good thing if it provides added assurance to the company's current financial integrity.
Sold my entire holding in TCM yesterday at 172p, nothing to do with TCM just wanted to switch cash into HNR as flow results likely to be out soon and saw an opportunity. Glad I did hopefully can buy back in at a lower price in the future but really weird.
Story by Mark Kleinman, on Sky News... (Excerpt below) The City regulator has launched an inquiry into the London-listed technology company Telit Communications, weeks after its chief executive departed amid doubts about his true identity. Sky News has learnt that the Financial Conduct Authority (FCA) has begun making inquiries into events at Telit, which makes products enabling access to the Internet of Things (IoT).
Probably stop losses hit - strong bounce likely?!
share price is crushing but no RNS! Leaking of bad news???
Personally as I have said before, I think the catalyst on this one now is what Oozi Cats does end of November and if he wants to sell his holding in Tellit, for the right price I am sure. With RLT holding 14% it could get interesting if Oozi does want to sell his 12.9% stake. All speculation of course, but I would rather be holding shares now than trying to buy when any announcement is made.
FTSE 250
interesting - where are they listed? You would think, now the Chinese leadership show is finished we'll probably start to see action if the Chinese are going to move. I believe they elevated Xi to "demi-god" and he now say he wants China to become the leader in the world. Presumably that means they will be grabbing technology everywhere? Especially if it looks cheap.
Well I don't know about Tellit's future direction hence sitting on sidelines at the moment before going back in But my other IOT play Laird is reporting great news today
Not much reaction to today's certification announcement? Surely this takes some of the uncertainty out of the forecasts? Probably not much difference in this year's results but just shifts it to q1 next year.
Yes it does appear to have volatility at the moment up and down, but have stopped buying just waiting to see were it goes after Oozi Cats agreement expires end November, so this is just a hold for me now waiting to see if a bid comes in within the next 12 months. But good luck if you are trading these within a range.
Looks like we are now on the upside of the range trade... �190-200 here we come!
This lot (shiteprofits) are calling a bear raid party! "Good News on Telit - the borrow is back. Sell with vigour I wrote that I would not comment again on the Internet of Things company Telit Communications (TCM) until borrow became available again. The recall of borrow, it will be remembered, along with buying by various parties such as Davide Serra (the self-regarding nincompoop who complained to both the SEC and the FCA about the truth being told about the Quindell fraud in which he was foolish enough to have a sizeable holding), caused the share price to almost double recently. The good news is that borrow is now possible and the shares are unsurprisingly on the slide. They should be sold with vigour."
The rise was caused by the ft article implying private equity were crawling over the company wanting to buy their automotive division. The fall is probably caused by them neglecting to say it was put up for sale a couple of months to keep the banks off their backs. So far no takers.
Still watching with interest. Why the slide? already done a 25p retrace since Monday. Is it going to test last week 142p???
As I understand he had to resign as CEO and has left the employment of the company, but yes I am sure he still has some influence as a major shareholder but if some third party offered him �40 - �50 million for his holding I am sure he would be tempted IMO.