Tap Global IPO – You is 'avin' a Turkish: this is a truly mad valuation even by the standards of shitcoin
By Tom Winnifrith | Tuesday 10 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.
I today asked the advisers to Tap Global (TAP) which joined the Aquis lobster pot today via a reversal into Quetzal Capital to justify why Tap was worth £20.5 million and 4.5p and the enlarged group worth £32.2 million. There has been no answer. Why? Because even by the standards of shitcoin and crypto-shite this valuation is bonkers. It’s a car crash in the making and shames all involved.
Premium content is for paid subscribers only
ShareProphets is reader-supported journalism
Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.