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First Derivatives – another curious deal: 1010 Data

By Tom Winnifrith, The Sheriff of AIM | Tuesday 9 October 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.


In a weekend bearcast I flagged up that the real issue with First Derivatives (FDP) is that its core business is a rotten generator of cash. And that – as well as the fraudulent IPO and dodgy related party deals is why the shares ( off again this morning to £28.35) remain massively overvalued.  So what do you do if you are set to report dire free cashflows? Natch turn to the Sam Antar playbook – meet 1010 Data   

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