By Tom Winnifrith, The Sheriff of AIM | Tuesday 11 February 2020
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
I have, for several years, warned that the valuation of Bulletin Board darling Versarien (VRS) was crackers. At one point it reached £200 million. As I write, ahead of the market open, it is still – with the shares at 49p – valued at c£70 million. Given that its core graphene business generated sales of just £27,000 last year and that the cash guzzling PLC is fast running out of cash, I am sure you’d agree the valuation is bonkers.
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