By Nigel Somerville | Saturday 8 February 2020
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.
I have a question for Finablr (FIN). Last month we learnt that BRS Investment Holdings 1 Limited, which is controlled by Finablr’s Co-Chairman Dr Shetty and holds 56% of the stock, had pledged its entire holding to cover bank loans on 10 January 2020. Of course, this suggested that all is not well with regard to BRS’ coffers and it left me wondering if the whole show was a house of cards at 95p. Indeed, the announcement saw the stock plummet by 27%. With the stock down again, to 70p, it sure is windy out there.
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