By Nigel Somerville, the Deputy Sheriff of AIM | Friday 3 August 2018
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 AIM-listed Tern plc (TERN) are down sharply this morning by 20% (last seen) on a clarification from the company regarding its principle investee Device Authority. In short, forecasts were, shall we say, a tad optimistic. That, in the wake of a placing at 26p. Perhaps some kind person can explain why that might not amount to securities fraud, for as a humble non-lawyer all I can say is it stinks.
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