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IQE: CEO fired, when is the lack of profits warning? Told y'all!

By Tom Winnifrith, the Sheriff of AIM | Tuesday 29 October 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.


Back in September, IQE CEO Americo Lemos gushed about rising sales and adjusted EBITDA as he presented interim results. I called out his bullshit. The reality was that sales are vanity, adjusted EBITDA is a metric only the desperate use and that IQE was burning cash and had very limited earnings visibility. Today Americo was fired.
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