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Sondrel – “pleased to confirm that it has received £1.5 million of payments”. But how long is that to last?…

By Steve Moore | Monday 5 February 2024

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 “a leading provider of ultra-complex chips for leading global technology brands”, Sondrel (SND) “is pleased to confirm that it has received £1.5 million of payments in relation to the material turnkey ASIC (Application Specific Integrated Circuit) engagement with its automotive Tier 1 supplier in January 2024” and that “significant new ASIC business opportunities are in final negotiation for project start in early 2024 and indications remain encouraging that European and US market demand for Sondrel's turnkey ASIC services is strong”. So what of a share price currently up to 5.5p in response, though still down from 16p as recently as November and above 60p in August!?
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