The irony of it

Saturday, 24th April 2010 17:14 - by Boredmum

A few weeks backs back I bought into Invu (TIDM code: INVU). I only bought in as a short-term trade, looking for a couple of points on a rising sp so that I could get out with a small profit. Well, unfortunately this was a trade that went against me. When I tried to sell I couldn’t. I left it to the next day, but then there were a couple of sells and the sp ticked down. I was looking over their website where it was noted that there was information they had recently gained over a new contract/partnerships. In my view this was good. There was a concern that they would not have funds to continue operating, but surely if they were still tying up deals then that was very positive? Now this information, although on their website, was not released to market. I sent an e-mail to their Investor Relations department to query why this information wasn’t released in RNS form. Invu did not believe the contracts to be significant enough to release to market. So, then I waited for a reply. No reply; over 2 weeks and the sp followed the pattern of a sell or two and then a tick down in sp. Rather annoyed, both with the company for not taking the time to respond and with myself for letting it run down this far, I took the decision to sell. Unfortunately, I had no idea where the bottom would be so I had to accept a loss. Out I came with a loss of around £350. Two days later the company got another partnership and...wait for it.....released the news to market. The sp performance on this news would have been sufficient for me to come out at break-even. So, the irony has to be: Did they only release this important information after it was questioned that they were not updating the market or would they have done so anyway? I had to laugh at the irony of it all. What else was there to do?