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GOTCHA: Blue Star Capital: not just the P&L but the balance sheet was, as predicted, fiction, shares collapse again

By Tom Winnifrith | Wednesday 13 March 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.

Much hyped sub-scale investment company Blue Star Capital (BLU) was a company I warned about in the most explicit terms about two years ago when the shares were 0.403p, a market cap of £20.2 million. After shocking, or not so shocking, news today this Jonathan Bixby/Mike Edwards created spoof sees its shares at 0.0375p a market cap of just under £2 million. So that is a 90% drop in two years. Ouch. Of course, the gerbils knew better than old TW@! They always do.
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