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Tom Winnifrith Bearcast: Upland admits the 14p, £166m, bid was a complete scam - vindication for the Master of penny share fraud busting

By Tom Winnifrith | Saturday 28 October 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 was on a road trip yesterday so only noticed the after hours 'fess up late in the evening. Upland's shares will be destroyed, it is a complete vindication of my coverage and some folks should be going to jail if the FCA, regulator of the Standard List, launches a criminal enquiry as it must do. Upland Resources (UPL) management are - at best - guilty of criminal naivete and negligence, To show that they are not part of a criminal conspiracy, perhaps involving the tweet below, they should be demanding an FCA enquiry - I hope you followed my short advice as these shares will, as I predicted, collapse like a failed souffle on Monday.
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