By Nigel Somerville, the Deputy Sheriff of AIM | Friday 25 June 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.
I continue to believe – despite the company’s protestations otherwise – that there is a placing on the way at AIM-listed jam-tomorrow investment company Tern plc (TERN). The only question for me is how badly burned shareholders will be. Today the shares are up 19% to 26.25p (last seen), having recently been as high as over 30p last month and down at 16p since. The “big” news is that its shares are apparently set to trade on the US OTCQB (bully for it, but hardly the Nasdaq!) and investee Wyld Networks is set to join the Nasdaq “First North Growth Market”. Tern may make a few quid on that IPO, but it is peanuts compared to Tern’s current market capitalisation of £83 million.
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