By Steve Moore | Friday 19 September 2014
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.
Having earlier this week remained bearish on mobile money technology platforms and services company Monitise (MONI), the shares have further crashed on the back of an announcement from current 5.5% shareholder and strategic partner Visa Inc. that it is “considering its options with regard to its Monitise stake… and has engaged J.P. Morgan Securities Plc to assist” and “intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources”. With Monitise having responded to Visa’s announcement am I changing tune? Er...
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