The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
It's notable that Simon Thompson hasn't written an article following the trading update. I wonder if he plans to include it in his 2024 Bargain Shares, normally published in early February. BBSN certainly hits his criteria of strong balance sheet and lowly valuation
The results from this division of SUS were encouraging this morning so I doubled my VCAP position. There was a trading update 13th December last year so we might get an RNS in the morning followed by a Simon Thompson buy tip :)
Shareholder equity is down over £6m since year end and retained earnings are now below £1m. Dividend is looking precarious and cashflows are awful. I used to really like this business. No position but I'd sooner be short than long now.
I agree with your comments MP, tone definitely deteriorated since last update as is shown by the revenue decline in H2 to date. I sold up this morning for 14% loss. Not that cheap and quite risky given debt IMO
I suspect part of the reason is that they are bearish on the sector and HL affords both the best liquidity and the required borrowability to go short, rather than it being for entirely company specific reasons. I've added today