By Steve Moore | Monday 3 September 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.
Footasylum (FOOT) IPO’d on AIM in November at 164p, with CEO Clare Nesbitt stating we “look forward to delivering the significant potential that we see for Footasylum as a quoted business” and “are delighted that our product-led, multi-channel expansion strategy has resonated so strongly with investors”. I though questioned on competition and disposable income challenges, and concluded that the valuation looked too rich. There then followed deviation from the IPO expectations and now a “Trading Statement” update…
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