Previously writing on mporium Group (MPM), last month I noted an intra-day (3:03pm) RNS and suggested the fat lady warming up. Yesterday an ultra attempted no-one-watching o’clock (6:17pm) RNS; “Statement re Creditors' Voluntary Liquidation”. Uh oh…
News last week that digital marketing company, Mporium Group (MPM), had gone into administration shouldn’t have come as a complete surprise as it has been on a steep downwards trajectory for a number of years, but things did come to an end far more suddenly than anyone could have predicted.
Having previously warned on mporium Group (MPM), I note an intra-day (3:03pm) RNS (hmmm!)… “Resignation of NOMAD”. Uh oh…
Mporium (MPM), “the technology firm delivering event-driven marketing, is pleased to announce that it has conditionally raised approximately £2.3 million… at an issue price of 5 pence per subscription share”. This is with CEO Nelius De Groot emphasising “the group continues to make strong progress”, and the price comparing to a prior close of 4.3p. So great news then?...
At Mporium, even though the charting history is a relatively brief one going back to just June, it can be seen how this stock already appears to be very much on the front foot technically.
If nothing else the daily chart of shares of Mporium Group (MPM) provides us with a lesson that you do not have to have years of historical data to make sense of a charting situation. This can make identifying a share price target tricky.
