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MGC Pharmaceuticals: another red flag vicar? More ouzo on cornflakes for a vindicated sheriff!

Following the publication of my red flag dossier earlier this year, anyone owning shares in MGC Pharmaceuticals (MXC) was fully warned of the need to lube up. I hope they did. The shares were 2.25p back on 11 January when I warned you that this was a £70 million dog from the scholars and gentleman at Turner Pope.  They are now just 0.825p but after another red flag admission today they are still a monstrous sell.

EPIC MXC
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MGC Pharmaceuticals – the share price is telling: this is an attempted ramp before a Mitchell Brothers discounted placing

MGC Pharmaceuticals (MXC) is drowning in red flags, as I exposed HERE. Moreover, it is almost out of cash, as I noted HERE. Hence, it has today announced the seventh ramptastic RNS since May 27. Seven in six weeks is pretty good going, but the recent share slump - 2.25p six months ago, to 1.1p on May 27, to just 0.975p today - is even more telling.

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