When not working out how to bankrupt me with a cunning Greek plan, the morons insisted that there was no placing coming from Avacta (AVCT). Well here we go, time to apologise morons. Today Avacta has raised £7 million at 95p and hopes that an open offer will bring in another £2 million and says “The Company consulted with a number of its major shareholders prior to the Placing and is pleased by the support it has received from both existing and new shareholders.”. I can reveal that is a big fat lie. Two folks who were made insiders havie confirmed that Avacta wanted to raise £15 million but could not. So to say it is “pleased” is just a lie. It gets worse.
There is more to Avacta (AVCT) than meets the eye, it’s a retail favourite with a rather steep valuation and an army of twitter and BB rampers working to push up the share price. This sort of cocktail attracts the shorts like myself. Where to start with this one? Let’s put aside the £275 million valuation, lack of ongoing revenue and impending cash raise.
Avacta (AVCT) shares are off only 0.5p at 109.5p today despite some fairly piss poor half calendar year numbers as bulls were given two straws to clutch at: a sharp increase in sales and the lack of a bailout placing. Fear not if you are short: the denouement is only delayed and here is why.
In 2019 Avacta (AVCT) delayed its interim results until October to get a bailout placing away. In 2020 and 2021 it had results in late September but gave several weeks’ notice of the results date in a warning RNS. This year is different.
Some folks really do need therapy. Bidstack (BIDS) deceives its shareholders a fact I prove, its shares slump and who is to blame. Yes it is evil TW, the Jews and a gang of minions. I kid you not., Here are a few posts from the Bidstack and Avacta (AVCT) boards over at ADVFN for you to consider. I omit the one repeating the canard that I am a convicted tax evader ( never even been questioned) but the selection below demonstrates the paranoia and stupidity of some folks. But can you do better? If so add your examples of stupidity from the LSE and ADVFN Bulletin Boards or twitter in the comments section below. The deadline for entries is midnight Saturday.
As we marched on Saturday, the Rogue Bloggers discussed this and that. As he sobered up, even Lucian Miers joined in the conversation, and asked whether he should short Avacta (AVCT). The answer is yes, and here is why.
Small stake-building by a French Covid tester in Novacyt (NCYT) saw its shares surge yesterday and that prompted jumps across the sector. Over in Bulletin Board Moron land the talk was of merger mania sweeping the sector. I hate to disillusion you guys …