The Problem20 Dec 2021 13:17
With This stock is that The Market knows there is about to be another placing, so very few buyers appearing until it’s out of the way. It does seem cheap though.
I’m well down & should have known better, Andrew Male said in the presentation that this was a ‘Growth Stock’ and not suitable for ‘certain investors’ but I was more than disappointed that they’ve spent £6 Million on their ad campaign and have less than £1 Million in cash now. That seems ridiculous to say the least, run a smaller Campaign to start with to guage reaction, not all the cash in one go, Vanity springs to mind!!
So, the fundraising will come as they continue to try and expand, more dilution in an already diluted stock, so I’ve reduced my holding here and added more into BIDS, there’s a better story unfolding there IMO.