UK 09:09 Saturday, 24 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
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.
Today's main podcast covers Tungsten, Plus500 (sorry Paul you are wrong), Coms, Mosman Oil & Gas,Gate Ventures and Blur Group. Apparently it is also a work anniversary - 3 years away from Rivington. A pause for a moment's thought.
Already a member? Sign in
• All premium articles
• Tom Winnifrith’s Bearcast
• Access to all the entire nearly 13 year archive
• ShareProphets Daily Newsletter
Cancel any time
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments
Daniel Victor
To be fair to Paul Scott,he listened to the bears’ argument on Tungsten and soon stopped being bullish.
Paul Scott
Hi Tom,
I’ve been talking to bears on PLUS, and whilst I think they make some interesting points, I don’t believe any of those points are a smoking gun.
To be clear, I’ve always disliked PLUS, and wouldn’t have it in my portfolio as an investment. However, I got it into my head that the fall was overdone, and that it was a good trading position. Clearly that was a mistake, as I’m heavily offside at the moment (have averaged down several times, and my average buy price is now 375p, but it was much higher).
In my view, today’s statement was reassuring, as it seems the main issue (regulatory problems in the UK which have arisen from them not having the correct client documentation) is fixable, indeed is being fixed, with a team of 40 staff drafted in to sort it out.
PLUS has quite high churn, as with Spread Bet companies, so I am hoping that in a few months’ time the regulatory issue will be done & dusted. If so, then I should not only recoup my losses, but make a profit on this.
I don’t see why a company with $88m in cash would go bust. Unless you think the cash is not there. But they’ve just paid a massive special dividend, so clearly they do have cash.
Anyway, we’ll see. Fascinating situation. Horrible company, and I’m kicking myself for going near it, breaking my own rule of never investing in overseas companies listed on AIM. However, I might yet have the last laugh here, as in my view the bear case is exaggerated, and relying mainly on unsubstantiated allegations.
If the bears can find the smoking gun, then I’ll ditch my long, and go short. But so far, I’ve not heard anything which convinces me to be bearish from where we are now. Remember the shares have lost over two thirds of their value, basically over a mix-up over client ID documents. It could gradually recover, as it did this time last year from a similar scare.
All good fun anyway!
Regards, Paul.
SHYTOT
Err..what happened to that piece by Steve Moore, that I was just about to reply to?
OK it looked like it was cobbled together in less than 5 minutes. But I still wanted to reply to it.
It seemed to miss out on a couple of fundamentals err. several billion dollars under management, $88M in the bank, and a $65M dividend payout this week for starters.
Fundamentals anyone? Now if anyone can prove Plus are not sat on $88M I will listen.
Or is it just my web browser playing tricks on me?
TW It is up