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Doggie Corner – Tern

By Nigel Somerville, the Deputy Sheriff of AIM | Saturday 25 July 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 just can’t help but notice that shares in AIM-listed jam-tomorrow serial non-deliverer Tern plc (TERN) seem to be sinking fast. The latest move yesterday, with the shares closing down again at 7.9p, has taken out the issue price of the subscription shares announced last Monday of 8.5p – which was already a 21% discount. It is always a very bad sign if the share price drops below the placing or subscription price. Oh dear…….and it gets worse, for it is under the curse of the Sith Lord Zak Mir who gave it the kiss of death at 10p, predicting a rise to 18p. Oops – 21% down so far on that one!

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