Minding the London Stock Exchange’s Business
Independent and Fearless Financial Journalism Funded by Readers
Even a few of our detractors have now come around
A week ago, Dave Richards - CEO of Wandisco (WAND) - was tweeting pictures of himself suited and booted, as well as his Mrs dressed up to the nines, as they headed to the residence of comrade Elizabeth Windsor. Today, he proudly waffles on about 2021 results from Wandisco. Only when you read the notes buried at the bottom, are you reminded of the dire realities. It could go bust, and will inevitably do a bailout placing - but is that enough? This is a train crash, and, rather than serving up nauseatingly misleading statements, Richards should admit to the facts.
A “Trading and business update” from ‘LiveData’ technology company WANdisco (WAND) emphasises that it “expects to report preliminary revenue for FY20 of at least $10.5m” and that an “expanding new business pipeline supports board expectations for FY21”... but what are those expectations and with revenue, of course, vanity, what does the bottom-line look like?...
From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2019 and thus far in 2020 (by net short position %, those in bold not on the list at the start of 2020) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...
In October we wrote on WANdisco (WAND) that it was our October 2018 tip of the month at a 377p offer price, with profit banked at more than 500p in January. The shares are now back at a 400p offer price but, with interims last month having emphasised a “strong platform for growth and evolving pipeline of late stage deals in the early months of H2 leaves us in a strong position, underpinning the board’s confidence in H2 and beyond”, ahead of expected significant news flow, we ride again… targeting a return to 500p+ to sell. After a latest rise today, the shares are now 570p to sell…
