UK 09:21 Saturday, 24 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
I have been a perma bear of Novacyt (NCYT) for an eternity and its shares have crashed from 805p five years ago today to just 35p. Was that excellent analysis and exposes of covid skullduggery involving the struck off dentist Ajan Rejinald which saved readers vast amounts of money? Or was this dirty muckspreading (somehow also roping in to the "conspiracy" Private Eye which also covered Rejinald’s covid scams), bent market makers and evil shorters which has brought down another Great British Company on AIM as crazy Meg from Bloomberg thinks? The market cap is now £25 million so are the shares finally cheap? Er…
It is clearly good news that Novacyt (NCYT) has won a £12.2million VAT refund. It was always likely but the shares zooming by 24p to 114p ( a market cap gain of £17million) suggests some folks cannot do basic maths.
We are not allowed to call it MonkeyPox any more as the virus comes from Africa so that would be racist. I kid you not, that is why it is called MPOX and it is the latest scare story from the folks who insisted that we all lock ourselves inside for months to stop a disease where, unless you have a co-morbidity issue the survival rate was 99.99%. Anyhow unless you have lots of casual gay sex you, will as a European, probably will not catch MPOX either and if you do you are exceedingly unlikely to die.
We will fight them on the beaches. We will fight them on the Landing Fields. We will fight them on the Streets. We will fight them in the Courts. We will never be defeated. So said Novacyt (NCYT) after the Government sued it for £134 million for supplying dodgy covid tests. Today, after racking up millions of quid in legal fees, Novacyt agreed to stop fighting and to hand over £5 million before the Court case started later this week.
On May Day Novacyt (NCYT) won a court case against the Government. Mr. Market, aka Bulletin Board Morons who are the marginal drivers of the share price here have misunderstood what this means so pushing the shares to 68p, a £48 million market cap. That is your cue to short.
As I explained on Sunday in bearcast, the donkey Novacyt (NCYT) will either get a one way trip to the glue factory in June if it loses a £134 million legal case with HMG or, in a best case scenario, take the same trip early next year when it runs out of cash. Today it has dissembled about bad news from Taiwan but it is hiding the really bad news, a bust up with Thermo Fisher.
I suggested that Novacyt (NCYT), of which I have been a perma bear, was doing a bad deal buying Yourgene (YGEN) for £16.7 million in cash. Today’s calendar 2023 trading statement suggests that it had to do some sort of deal as its own business is going nowhere fast. Two drunks can prop each other up for a while but in the end both will collapse into a vomit covered heap anyway.
My man is close to the action and his reports suggest to me that Novacyt (NCYT) now in the skilled hands of Lynn Rees, the man who crashed Yourgene (YGEN) could well also crash and burn in 2024. At 66p the market cap is £47 million and the company had £81.7 million cash and no debt at June 30 BUT….
Novacyt (NCYT) headlines a trading update with “Full year revenue and EBITDA in line with guidance. Remain focused on post-COVID-19 growth strategy to become a leading global clinical diagnostics company in infectious diseases”. But with the shares currently down more than 6% in response to 75p, what’s the detail?
