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.
At its AGM in the tax haven and cultural desert that is the Isle of Man, Veltyco (VLTY) was in bullish mood. The brief statement reads:
"The Board of Veltyco is pleased to confirm that trading in the first six months of 2017 has been strong in all business verticals. The revenue and EBITDA for the period January to June 2017 are significantly ahead of market expectations. The Board has confidence in the continued success of the Group and of the business exceeding market expectations for 2017".
The shares are - consequently 65-68p giving a market cap of £49 million. Which is about five times annualised Q1 sales. Not EBITDA let alone real profits. These shares seem to have momentum and that may take them higher but we are nervous about the market as a whole, the shares have exceeded our 60p target, and the valuation prices in a lot of good news.
Tipped on January 17 at a 35p offer we suggest banking an 86% offer to bid gain made in less than seven months on this share tip.Take Profits.
This article first appeared on the Nifty Fifty website which Tom Winnifrith runs with Steve Moore & Lucian Miers. To access the website ahead of the next share tip from Tom & Steve shortly and a new shorting piece from Lucian later this week click HERE
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