By Tom Winnifrith | Saturday 30 January 2021
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 the outright con Supply@ME Capital (SYME) remain suspended on the London’s Stock Exchange despite its very belated posting of two missing sets of accounts. In my latest letter to the regulators at the FCA I explained why the shares should stay suspended until Supply’s lies in those two accounts are addressed. But here’s another reason, plotters on Reddit are aiming to attempt a mass buying of the shares on Monday, if they are unsuspended, to destroy, what they believe is a massive shorting conspiracy. They think Supply will be the UK’s GameStop, taking down evil hedgies and shorters.
Despite the fantasies of a number of folks frothing about TW on the board, for it was me who got the FCA to suspend the shares, I am not short and indeed the total short position here is negligible. This is not a David vs Goliath battle of Joe Ordinary vs evil Hedge funds as some folks like, erroneously, to paint the GameStop saga as being. But if the FCA unsuspends the shares then this will be the cover story for an attempt at the greatest ramp, the greatest exercise in market manipulation, in UK stockmarket history.
This is a ramp instigated by the sort of folks who on other chatrooms have discussed hiring a hitman to kill me for getting the shares suspended!
Folks on Reddit, HERE, are talking of a 25p target price. The shares were suspended at 0.51p. At 25p the company would be valued at £6 billion. That is one and half times as much as supermarket giant Morrison’s. Yet Supply@ME has not one contracted client, will have no revenues, once the auditors have dealt with its revenue recognition, was listed via a fraudulent prospectus, has zero cash, its directors have issued statements that are just not true and sold vast numbers of their own shares into the spikes that followed.
What is being planned here is insane. The FCA has now been alerted and if it does not stop this, by keeping the shares suspended, it will make itself look like a complete laughing stock.
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