Devolver Digital – “trading update”, does it remain an AIM IPO Roll-Call of Shame?
By Steve Moore | Monday 9 January 2023
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.
Describing itself as “an award-winning digital publisher and developer of indie video games”, Devolver Digital (DEVO) commences a “trading update” with to “expect FY2022 revenue to be within the range of guidance set in June 2022, with strong year-on-year revenue growth from continuing operations of greater than 30%” and also states that its “pipeline for 2023 is healthy and diverse in terms of titles, developers, platforms and geography”. Sounds good…so why currently a more than 12% share price fall in response, to 55.5p?
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