Cupid (#CUP) sells dating business for just £3m - to become an investing company
- 2014-12-08 01:28:32
Interim results from Cupid (CUP) were predictably disastrous and show why it had to see its dodgy Ukrainian dating businesses. In part that was because, despite the KPMG whitewash they were clearly engaged in unethical practises. But Cupid also needed the cash.
With February being the ‘love month’ what share could be best placed to feature in this month’s Stock-Ping? Yes, you’ve guessed it Internet dating company, Cupid (CUP), ‘a global leader in online dating’ with some 45 million members across 106 countries.
I have a bad feeling that it will be me rather than my young apprentice sending a £50 donation to Woodlarks as a result of losing our Christmas spread betting challenge. The force is not with me on this one.
If you believe some bloggers, Cupid is not a stock to have great faith in on the long side, but what we have seen on the daily chart here since March is actually quite a good example of consolidation/stabilisation.
I had never done a spread bet in my life until eight days ago. But I have just completed my fifth trade – selling Cupid (CUP) at £4 a penny at 54p. My stop is set at 64p.
I last reported on Cupid (CUP) shortly after it reported the disposal of its casual dating business to the company’s founder Mr Polyakov back in July I had assumed that the whole of Cupid was a “casual dating business” but no, Cupid is now a “mainstream” and “niche” dating business.
So AIM Cesspit listed Cupid (CUP), the BBC last night accused you of defrauding your customers and showed why the KPMG enquiry was a whitewash – are you going to sue it for defamation?