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Woof! Woof! Mirriad Advertising – 2020 results, “more work to be done” an understatement!

By Steve Moore | Wednesday 12 May 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.

Mirriad Advertising (MIRI) Chairman John Pearson is, “despite the disrupting influence of the COVID-19 pandemic… delighted with the progress that has been made”. Why then on the back of the results statement are the shares currently, at 50.5p, more than 11% lower? Because the valuation for this cash guzzling dog is bonkers. That is why!

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