At 2.54 PM today Blinkx (BLNX) finally put out a statement in response to its share price collapse. I am not sure that I find it terribly convincing. The company says there is no reason for its shares to slump (as we described earlier), but says:
Shares in Blinkx (BLNX) were off by 50% at one point today. As things stand the shares are down by 35%, 62p at 113.5p. The reason appears to be a fairly venemous bear piece which has appeared: The darker Side of Blinkx.
Blinkx (BLNX) has been and remains one of the finer examples of an AIM stock where the fundamentals and technicals and the overall feelgood factor in terms of getting on the back of a company which is hot, all intermingle.
Edison is commissioned by companies to produce reports so when it admits that a valuation is high that is some admission. But it has done just that in a report out today on Blinkx (BLNX).
Ever since the Autonomy link scare buy opportunity for Blinkx in the autumn, it would appear that everyone and their mother has been backing this stock as one of the best AIM stock buys around, both on a fundamental and a technical basis.
I concluded a piece last month on AIM-listed internet media company blinkx plc (BLNX) that, with the shares then up to 93p, ‘there may still exist a bit of upside scope here, but the valuation now looks to leave little room for the years ahead not turning out as bullishly as currently envisaged’.
While it is always tempting to go over the top after a minnow has had a good day as video search engine group Blinkx has had today, it has had stunning technical for a number of months and therefore what we are seeing is no flash in the pan.
Shares in blinkx plc (BLNXM), the AIM-listed internet media company boasting “the world’s most advanced video engine”, trade 20% higher today, at 93p, on the back of an announcement that it “expects to report full year revenue and profits ahead of expectations”.
The latest sharp gap higher for Blinkx shares suggests the long awaited move to 100p plus could be about to become a reality.
AIM-listed blinkx plc (BLNX), which describes itself as “the world’s largest and most advanced video search engine” , has today announced a further partnership deal – this with KoldCast TV, an international television network of original entertainment programming.
