By Lucian Miers | Tuesday 23 August 2016
Disclosure: The author has a short position in one or more of the shares mentioned. 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.
Such is the current febrile state of the markets that even China scams are being bid up with gusto. Take Mayair (MAYA), which purports to sell clean air filters in China and floated on AIM in May last year at 130p. Its shares, having gone down in a straight line to 40p (as insider selling outweighed the constant barrage of good news that these companies always come out with) have doubled to 84p in the last month as summer madness takes hold. The company itself was forced yesterday to say there is no reason for the rise. Indeed.
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