Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Today's From Athens with Love report from ShareProphets sent shares in Greece based AIM listed InternetQ (INTQ) tumbling by more than 50% at one point. Finally we get a weedy but all to predictable response and on the back of it I have cut my target price (for the whole company) from 1 drachma to half a drachma.
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Comments
Mammy Yoko
Spare a thought for the following dupes (or rather their investors). Note to self – don’t place any reliance on inst investor due diligence
Legal & General Group PLC 5,144,631 12.82
Schroder Investment Management 4,912,546 12.24
Toscafund Asset Management LLP 2,792,500 6.96
Drunken Sailor
You had better get to Athens quick. If Globo timescales apply then the CEO will have resigned and the shares will be suspended by next week.
Shares are down further since the announcement.
alcira16247
Tom
This revelation is causing a tsunami amongst the investing world, akin to the damning Gotham report on Quindell.
The feeble predicable response from the company has done nothing to calm investors nerves. Judging by the continuing slide in share price, seems overall market opinion are agreeing with the ShareProphets analysis.
No wonder Sam Antar could barely conceal his contempt for the ‘professional institutional investors’ industry……. what on earth were those MUPPETS at Tosca thinking when they bought into this ‘company’ a month ago?
Daniel Victor
That sounds like just a holding statement which was the best that they could manage immediately.The acid test will be what they are able to follow it up with in the next few days.