Oh, that company. I actually wrote about that almost a decade go, and didn't like it much then. On 8 March they suspended trading due to reported potential fraud in purchase orders.
On 11 Jan 2023, they had previously reported https://www.investegate.co.uk/...:
Trading in Q4 2022 finished strongly following significant contract momentum with both new and existing customers. As a result, the Company's preliminary unaudited revenues are expected to be no less than $24m, growth of 229% year on year
In retrospect, "perhaps not".
I noted on 12 December 2013 https://mcturra2000.wordpress....:
trading at a massive 84 times its revenues
Clearly I was implying that it was massively overvalued. I did seem to favour Tasty (LON:TAST), a share I got massively wrong. So I am clearly not above making mistakes.
On 16 July 2013, I wrote https://mcturra2000.wordpress....:
WAND (WANdisco) announces today that it launches “Git Multisite” ... WANdisco is unlikely to offer much that programmers can’t do for themselves ... there are numerous competitors in this field. ... So potential investors should be aware that competition is likely to be fierce, will have economies of scale advantages, and have solid financial backing. And sometimes they’ll have to compete with free.
I was obviously not impressed.
On 22 October 2014 I wrote https://mcturra2000.wordpress....:
I have been bearish on WAND ever since I heard of it. I’ve always held that this is a commodity. ... Investec reiterated a buy rating, with a target price of 1275p. I’ve no idea where they got that price from. It seems laughable to me.
And laugh I may. Some time later David Richards, CEO, saw a disparaging post I made on Twitter, and attempted to educate me how it had patents and stuff. Suitably schooled, I remained unimpressed.
I wrote about them last in 2 October 2015, I mostly poured more scorn on them, as you might expect, I did offer an important general takeaway, though https://mcturra2000.wordpress....:
It has a Stockopedia Stock Rank of 5; rather a strong warning. Its RS6m (6-month relative stength) is -46%. Shares that perform that badly require special caution.
So there we go. Avoid blue sky companies. (Having said that, if Raspberry Pi do a float I'd be tempted to have a daft wee laddie punt).
Enough cynicism, Let's try something more positive. Quite an interesting article I came across recently was Lewis Robinson…
