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Tern at 30p? If that is not a sign of total market madness then I’m a Banana

By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 15 May 2021

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.

With apologies to Ian Hislop, seeing shares in AIM-listed jam-tomorrow (but never delivers) IoT Investment Company Tern plc (TERN) riding high suggests that either the market is now fully set for a big tumble or I am a banana. Tom Winnifrith was struck in yesterday’s Bearcast with the stock at 25p. But by market close they were sitting at an amazing 30.25p (mid) – an incredible 44% rise in one day for a company with last stated net assets (cash plus a portfolio of illiquid unlisted cash-hungry investments) of just 7.3p!

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