Greetings - we have a bunch of exciting updates today, making the World Cup Group F games at 3pm pale into insignificance!

Stocks of interest today are:

Stories are presented below in order of the headline to this article!

Fastjet (LON:FJET)

  • Share price: 4.95p (-68%)
  • No. of shares: 522.4 million
  • Market cap: £26 million

Funding Update

Mentioning this first as it is the simplest story today. A bad business in a bad sector, listed in London but based in Africa, is running out of money again.

This had many hallmarks of a stock to avoid. The most obvious and important one being that it repeatedly ran out of money.

And it was remarkable that a few City fund managers kept putting fresh funds into it. I only wish I could have been a fly on the wall to hear their conversations and rationale in advance of each placing.

Perhaps they are about to throw in the towel at last:

The Company is currently in active discussions with its major shareholders regarding a potential equity fundraising, in the absence of which the Group is at risk of not being able to continue trading as a going concern.

Fastjet would never have existed if stock market investors had not been found to throw money at it. I continue to believe that it is worth close to zero.

The algorithms appropriately identify it as a Sucker Stock.

Crawshaw (LON:CRAW)

  • Share price: 5.25p (-25%)
  • No. of shares: 113 million
  • Market cap: £6 million

Trading and Strategic Update

Today's trading update from this chain of butchers strikes familiar themes: high street shops doing poorly, factory shops doing well. The macro environment is blamed (lower footfall on the High Street)…

Unlock this Article with a 14 day free trial

or Unlock with your email

Already have an account?
Login here