A couple of months ago, I was very downbeat (again) about the prospects for the shares of DFS Furniture (DFS) even with it describing itself as “the market leading retailer of living room and upholstered furniture in the United Kingdom”. Whilst the shares have nearly halved over the last year, as a bunch of people have realised they either cannot afford a new sofa and/or have better things to be doing with their money, the stock has pushed up over the last couple of months. What is going on?

Previously writing on alcoholic drinks company Distil (DIS), in October as the falling shares saw the market cap down to below £6 million I cautioned still due to stated “opportunity for new growth” and “a new, highly effective distributor” having to be proven and amidst an admitted backdrop of macro uncertainty and cost pressures. The last closing market cap was just above £6 million… but then today a “trading update”.

Previously writing on online wine retailer Virgin Wines UK (VINO), in October with the shares at 50p I noted ‘full-year results argue “resilience”… but it’s financial downgrades AGAIN’ and concluded it is particularly the cash flow and balance sheet to monitor here and the trading trajectory sees me continue to avoid. The shares last closed at above 70p but are currently back towards 50p on the back of a “trading update”, so how’s that trading trajectory?

Just like Nightcap (NGHT) yesterday, Procook (PROC) has served up a trading statement which plays fast and loose with reality. Its intent is not to inform but to mislead.

Previously writing on software for customer marketing company Pelatro (PTRO), last month with the shares falling from close to 20p I noted ‘warns on trading, and what about the balance sheet?’, concluding that I certainly continued to avoid. The shares are currently further down below 10p today following yesterday an intra-day (uh oh!) “trading update”.

Previously writing on manufacturer of carbon fibre reinforced ceramic automotive brake discs Surface Transforms (SCE), in September with the shares at 40p I concluded that, with the financials uplift the valuation looked to demand, I still just continued to monitor from the sidelines. So what of today a “Trading and operations update” from the company… and the shares currently further down to 36p?

There is today, finally, as I demanded, a trading statement from Nightcap (NGHT) the financially challenged bars chain of Sarah Willingham of Dragon’s Den “fame”. But it is hugely misleading, on an industrial scale, and the underlying position is grim, sales are falling and a cash crisis is looming. This is the pump before a bailout placing dump. Let me explain why an update described by the ghastly Willingham is not as she claims “positive”. Not at all.