The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Lost his shirt on this one.I wish we can have more shares like sfe so that I can see Neil crying.
Why are you crying like a baby now then Neil, "I am done with aim bla bla".You took a gamble and hoped it would do "ITS" it did "its" and got suspended
Notorious "p&d" merchants have got caught in it, serves them right.
We had NMS healthcare not so long ago, a ftse darling which was nothing but a fraud and only got exposed when a famous shorter opened a short and released "research paper" on it.Turned out it was used as a piggy bank by BR Shetty and partners.It was multi billion fraud and noone got punished for it.
Quite a few traders have got caught in it.We have sellers around it and market wants to see cash.
Day traders are being trapped here.Fun till mug punters are willing to pump more money but volume would drop at some point.
Not a bad prive but chances are 99% of people who see "potential" here would move on to next share when they fail to trade it.I would say that there is a seller in the background.
Are trying to trade it while comoeting against big boys.I suspect we have an institutional seller and it does not end there as investors were misled. Market wants to see cash before puting any value on it.
I do think there is more to it then equity value but market has lost trust in this.investora who took part in IPO would be preparing a lawsuit as we speak as they were misled.
Who took part in IPO sitting down quietly, a massive lawsuit is on the cards .It is really hard to put value in it as it has lost its credibility and market wants to see cash!
Ut has become legal as we have all sort of scams going on on Aim.You have directors selling just before a bad update, a bad update followed by upbeat forecast, an assuring update followed by placing and not to mention countless "Pump and dumps".I said good luck as I am all for investors standing up to dodgy managements
Not so long ago investors lost blillions in Finablr and Dubai based healthcare company and we are talking about billions of pounds and noone was touched or charged. It is really hard to prove financial fraud in these sort of circumstances and even harder to convict someone.Halt of Aim managements would be in jail
In background, look at all of these massive sells regularly appearing.
Market is worried about something. I went through update and company expects to breakeven. It can be loss-making but I there does not seem to be any debt. We will find out soon but there is non-stop selling and nothing seems to be stopping it.
How do you this company has not dug a "hole" this company has spent nearly double than initial estimate and cost can spiral out of control. Magical word is "at least 35% of total capex". Lenders are into charity business to bail out mug punters they would want to maximise returns.
Let mug punters lose money, there are a few of them trying to Sue iog management for making misleading claims. Companies do release updates but if mug punters don't listen it is their fault. A few of them would give up when they realise they can't move the price, a few of them would "average down" and a few of them would stay in till very last. Wait and see
But have not seen this level of incompetence. Many miners encounter problems after production has started but you rarely see costs skyrocketing before production has even started. How can you justify this at least 35% increase when they raised 61 millions before and has set aside 25 millions?
Fresh wave of "traders/gamblers" has been trapped and it will go on for a long time now. It reminds me of iog, where quite a few people took heavy positions and shares kept on going lower and lower. Equity wipe out is almost a certainty here and it will leave many people bruised. You know things are bad when usual suspects on twitter have given up. It is not one of those shares where you can pile in to pump and dump.
And capex has gone up by at least 35% and even more. Who will pay this extra 35% or more and are they not in breach of banking covenants? Secondly how can anyone trust their production target after last update and why would banks provide further funding? There are far too many unknowns and management does not have a clue. Some extra money was put aside in case they overrun costs but noone thought it would get to this stage. Follow the money institutional investors are not dumb and they would not have exited if they saw a value.