RE: Most Interesting3 Jul 2021 04:10
Anything for you smoke
"Henderson Opportunities hangs up on LoopUp
Henderson Opportunities (HOT) has sold its position in LoopUp (LOOP) as the conferencing software company faces stiff competition.
In the six months to end of April, LoopUp had been the largest detractor from performance in the £108m trust, according to manager James Henderson.
‘This had been a strong contributor in the previous financial year, however, shortly after the company’s financial year end, it reported that it had seen increased customer churn as some customers were moving to competitor products – such as Microsoft Teams,’ said Henderson, in the trust’s half year results.
‘In our view, this heightened competition from particularly powerful competitors was unlikely to recede and therefore the position was sold.’
Shares in LoopUp closed down 1.5%, or 1p, at 66.5p on Thursday, having more than halved in value over the past year."