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STM Group – ‘believes profit expectations will be met’, so why the further share price fall?

Financial services group STM (STM) has issued a “Board Changes and Trading Update” including “we will be making a number of appointments in the coming months to refresh the board around the future strategy of the group” and, with “the pipeline remains encouraging”, that it believes full-year profit expectations will be met. So what of a current more than 8% lower share price to 22p, a circa £13 million market cap?

EPIC STM
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STM Group – ‘trading update’, “Covid-19… more difficult backdrop”. Uh oh...

Previously writing last year on group which “specialises in the administration of client assets in relation to retirement, estate and succession planning and wealth structuring”, STM (STM) I commenced that I’d previously written in late 2017, concluding, with the shares having been recovering back above 40p, that with uncertainty together with the tardiness of its announcements, if I owned I’d currently sell and await further developments and concluded, with the shares then around 32p, that I wasn’t confident in the outlook and retained previous caution. Today a “Trading Update” – and the shares currently below 30p, more than 15% lower on the back of it...

EPIC STM
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STM Group – having in September stated looking to “round-off a solid performance for the year”, a “Trading Update”...

I previously wrote on STM Group (STM) in late 2017, concluding, with the shares having been recovering back above 40p, that with uncertainty together with the tardiness of its announcements, if I owned I’d currently sell and await further developments. Latest results in September included it looking to “round-off a solid performance for the year” – and “the cross border financial services provider, today provides the following update on trading” (not ‘pleased to provide’ then?)...

EPIC STM
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This AIM Outfit that Doesn't Knock the Rock Might Be Worth a Peek

Hello, Share Pluggers. Listening to the radio today, I learned Gibraltar is gearing up nicely for Brexit. An incredibly reasonable spokesman for the big rock said it was hoping to forge friendlier links with Spain after the break-up. Recently, I’ve also picked up media reports that financial institutions, particularly insurance, are moving operations to Gibraltar, anticipating a financial boom.

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