UK 16:49 Friday, 23 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Following on from my earlier piece on my bear pick for the year, Nektan (NKTN), today’s trading update indicates that it is unravelling faster than even I imagined.
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Comments
bob brush
How on earth can a business of this size and type spend quite so much money in 6 months? any theories on where the money is going?
tomr58
a huge thanks for pointing out this dog which i bought last year as a long term hold , i got out on verifying what you said and have saved a useful some as this stock spirals out of control.
Cynical Bear
@Tom – my pleasure
@ Bob – guessing to a certain extent but looking at last year’s final results, one could envisage the marketing and affiliate costs eating up all the gross profit.
One then has a cost base of about £3m for the half as per their numbers today.
Capex and investments/loans to JV for the full year totalled £4m so there could be another £2m there. Fees for the fundraises could be £500k and so not much more left to find to get to £6m
In short, they should have focussed on costs a long time ago!