Vindication! Vindication! 6 years of warnings from ShareProphets: Now PureCircle “discovers” even more fraud!
I first wrote here on self-styled “Western fashion experts for online Indian consumers”, Koovs (KOOV) in 2016 – concluding there is much still to be delivered to justify the valuation here – even at 25p per share… Not for me at such a stage and most recently last year; it’s cash rather than social media reach which is currently critically important!. The shares have since sunk further – and are currently further lower, at sub 3p, on the back of a “Second Quarter Trading Update”…
Indian fashion retailer Koovs (KOOV) has just released its interim results and they don’t look pretty, but to be fair to the company that was largely expected.
I came in for a fair bit of criticism when I covered Indian fashion retailer Koovs (KOOV) negatively and suggested it was a sell or avoid back at the start of July. Since then the share price has pretty much halved from the 20p level that it was trading at, so I feel that my criticism of the company was justified, and my view has been vindicated – hopefully some of you who have read my articles and were holding at the time also saved yourselves from seeing the value of your investment halve. A number of people have been asking me what my view is of the company now that the share price has dropped back to around 10.6p to buy, so I felt that it was time to take another look.
Indian online fashion retailer Koovs (KOOV) is a company that I have kept an eye on as some were tipping it to be the next Asos, but I have always been far more bearish on the chances of that actually happening!
Seller of “affordable western fashion in India online”, Koovs (KOOV) has followed an announcement last week of “partners with Bollywood icon Taapsee Pannu” with “GQ Best Dressed Kunal Rawal Joins Rush For Koovs”. Hmmm, ramptastic?...
Seller of “affordable western fashion in India online”, Koovs (KOOV) “is pleased to announce… the company will acquire four £6m tranches of media from HT Media at six monthly intervals over a twenty-four-month period”. Hang on a minute, isn’t it cash crunch ahoy here though?...
A “Share Price Movement and Interim Funding” announcement from India online fashion retailer Koovs (KOOV). Hmmm, “interim funding” hey…
Writing on online fashion retailer focused on India, Koovs (KOOV) in December I questioned “pleased with the progress we have made in our business fundamentals” - noting for the half year revenue lower to INR328.7 million (£3.94 million), a loss of more than £7.7 million and current assets over total liabilities of £8.3 million (£7.6 million of current assets being receivables and cash £9.4 million gross and just £2.2 million net). There’s now an announcement entitled Strategic Acceleration Plan, commencing “following the success that Koovs has achieved to date”!…
Online fashion retailer focused on India, Koovs (KOOV) has announced results for its half-year ended 30th September 2017 – including CEO Mary Turner “pleased with the progress we have made in our business fundamentals”. Sounds encouraging…
Online fashion retailer Koovs PLC (KOOV) is one of those companies where the market valuation continues to baffle me, and I can’t see any reason currently why the share price should be anywhere near as high as it is.
India-focused online fashion retailer Koovs (KOOV) has announced a conditional, including on General Meeting approval, capital raising at 25p per share. This stated to be “part of our planned growth, and will allow us to continue to build our brand, develop our customer offer, and deliver our strategy”. Hmmm…
I’ve been seeing a few mentions of shares in Koovs PLC (KOOV) being a good recovery play, but I’m not so sure, Indeed I can see further share price downside to come.
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