By Tom Winnifrith, The Sheriff of AIM | Wednesday 8 March 2017
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.
Shares in Advanced Oncotherapy (AVO) are sliding again today. Last time I looked they were 32p bid and they are heading rapidly towards the 25p mark at which point Bracknor will not be able to forward sell/convert loan notes as explained HERE without GM sanction. Thus the loan shark death spiral provider - which is pro tem exposed to the tune of well over £1 million will be flogging shares as fast as it can. Meanwhile Advanced just won't answer my 16 questions HERE. But there is something else going on which you can see if you check out the Bulletin Boards and it is quite remarkable and shows this company is toast.
Last summer when I started pointing out what an over-ramped hound this company was - with the shares at 200p -the Bulletin Board consensus was that I did not know my arse from my elbow. There were almost no posts in support and the three responses were:
1. He or his pals are short he is spreading lies to make money
2. He'as is a fuckwit pizza shop owner/failed fund manger/ always gets it wrong we know better
3. He just does not understand the technology, we do, yadda, yadda, yadda.
You will note that these are standard responses whenever I launch a campaign and in the end I am nearly always right.
But I had a look at ADVFN today and for what seems like weeks there is almost no post criticising me and actually I am barely mentioned. What is fascinating is that there is now an acceptance that the board has misled folks and anger, folks want retribution.
It was October 2016 when I exposed NED Lord David Evans for dumping all his shares in a closed period and possibly when sitting on inside information. Even when the Blair crony "was resigned" on November 1, half of those on the boards dismissed this as a distraction from the main (bull) story. But now they are all howling for blood. For with the shares at 32p they are pissed off that the good Lord got to bail at 120p last September.
You see how the mood music has changed. I have discussed before the idea of the seven stages of grief and how it applies to shares. Last summer and early Autumn Advanced shareholders were in phase 1 as the stock continued to slide in the face of bullish RNS statements but my articles exposing the awful truth, they were displaying shock and denial.
Where are they now? I would argue they are in the second part of phase three - anger. In the first part they shoot the messenger (me), in the second part the anger turns to those who are responsible. that is to say the board, paid rampers and the PR man Paul "Queenie" McManus at Walbrook PR who assured punters with soothing emails that I was an arse who would be dealt with. Ooops sorry, that is what Queenie said to shareholders in that other fraud he bats for Eden Research.
But the Bulletin Boards also show that some folks are now in phase 4 - depression, reflection loneliness. That is to say BB posters of old have disappeared. And some are now into phase 5, the upward turn. That is to say they know they have done their conkers here but accept that this is just a share. There are other shares to play with and there is more to life than money.
There are almost no posters who are still in denial. That means there are few who are daft enough to average down and since there are sellers both from stale bulls now giving up and from Bracknor that can only mean that the share price collapse will continue.
Advanced shares are heading down and all the way to zero. But I shall miss it when it goes bust because the behaviour of its shareholders has been, and remains, a fascinating lesson in how the human mind works.
Never miss a story.
This area of the ShareProphets.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ShareProphets.com. ShareProphets.com does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ShareProphets.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ShareProphets.com and is not intended to be relied upon by users in making (or refraining from making) any investment decisions.
Comments are turned off for this article.
Search ShareProphets |
Stock market news |
Recent Comments |