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Velocity Composites – there really some “excellent progress” & “a robust level of liquidity”?...

By Steve Moore | Tuesday 17 November 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.


Velocity Composites (VEL) has updated including that it “has made excellent progress in its new business development, particularly with its long-term customers” and that “as a result of the cost restructuring exercise undertaken the board anticipates that going forward the company would be EBITDA break-even at FY2020 levels of revenues. The company is now highly operationally geared, such that any significant recovery in activity, even if only to below pre-pandemic levels, will have a strong positive impact on future profitability”. The shares have currently responded to 13p… approaching 20% lower!…

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