Bear raider Evil Knievil and I chatted tonight and he is in celebratory mood following the post results meltdown in the share price of AIM Cesspit listed Quindell Portfolio (QPP). The numbers raised red flags but it is the shocking revelations of how shareholders cash was used to punt on Quindell’s share price that has caused the stock to slump.
I revealed here a while back that Quindell was Evil’s biggest short. Bear raider Lucian Miers also wrote up his concerns about Quindell here on Shareprophets two weeks ago as you can read here.
Is it illegal for a company to use CFDs to bet on its share price going up? Evil tells me that it is not since a CFD is a derivative. However
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