As we marched on Saturday, the Rogue Bloggers discussed this and that. As he sobered up, even Lucian Miers joined in the conversation, and asked whether he should short Avacta (AVCT). The answer is yes, and here is why.
Small stake-building by a French Covid tester in Novacyt (NCYT) saw its shares surge yesterday and that prompted jumps across the sector. Over in Bulletin Board Moron land the talk was of merger mania sweeping the sector. I hate to disillusion you guys …
Oh dear. How sad. Never Mind. The Covid testing bubble is bursting and an admission this morning from Avacta (AVCT) is even more of a disaster than a 27% share price slump suggests. This collapse is only just beginning and will spread across the sector, so completely vindicating we cynics of stocks such as Abingdon (ABDX), Omega Diagnostics (ODX) and others. As a bear, preparing to crack out a celebratory ouzo, Let me explain.
Hello, Share Groovers. It’s taken a fair time but Avacta Group (AVCT) has been awarded a coveted CE mark for its Covid antigen lateral flow test. That means that its self-test kits can be sold in the EU and Blighty. The news sent the shares up by 25% at one point. There could be more to come.
Hello, Share Scrumpers. As Uncle Tom kindly reminds you from time to time, I’m of a great age. This leaves me prone to a few minor health issues that require small-time surgery. But I have to endure discomfort until the covid-ravaged waiting lists at my local hospital push me to the top. But what has this to do with buying and selling shares?
So a Ukranian-born oil and media bloke tops the Times rich list with £23 billion. It makes that £200 quid you made on Avacta (AVCT) look a bit anaemic doesn't it? Second was and third were property brothers David and Simon Reuben .Their assets grew byt £5.46bn to £21.46 billion .
