Thursday’s news that Visa was dumping Monitise (MONI) was quite clearly a disaster. It must have come as a total shock to Monitise otherwise the director who dumped 1.5 million shares at 44p on Monday (good call mate, BTW) would be heading for prison. And it is a body blow as I explain HERE.
The reaction of Monitise shareholders on the Bulletin Boards has been predictable. None of these who heaped out abuse to me for calling it right as a sell at 70p and at 50p (the latter just a few weeks ago) bother to apologise. That never happens.
Some accept that it is a disaster and have sold. Some accept that it is a disaster but say that they will not sell until the shares recover to what they paid for them. This is a common reaction among shareholders but if you think about t is insanity. The folks overpaid. The fundamentals have got worse.
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