Keyword results: Oh dear How sad Never Mind

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Avacta: a double disaster, shares slump but, even so, now in my top 5 Covid testing sells

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.

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Dev Clever – shares suspended: Oh Dear, How Sad, Never Mind

It looks like its turkey twizzlers only for the morons owning this stock on this Christmas Eve.  As I have noted many times, Dev Clever (DEV) has been monstrously overvalued on fundamentals, promoted by ramping and worse. At 30p the company is valued at £180 million which for a loss-making entity, run from a lock up on an industrial estate and with half year sales of just £2.4 million is bonkers. But at least you could trade out of you wanted. You can’t now. The company says that it has asked the FCA for the suspension of trading in its shares. Just like you used to ask the headmaster to beat you for sinning at school. Whatever…

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