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Iofina Shares Collapse – victory over the Bulletin Board Morons & cretinous analysts at Numis Securities

Tom Winnifrith Wednesday 23 April 2014

 

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Oh dear, oh dear… I have warned you numerous times to sell shares in AIM Cesspit listed Iofina (IOF) because it was burning cash and set to run out this spring and today the company has finally fessed up and admitted that I was right all along. The shares have collapsed by 56% to just 24.5p. So Numis (who reckoned a month ago that the shares were worth 156p) how much do you pay the analyst who served up that crap? Give my cat his job instead!

I have been warning about Iofina for more than a year and each time the Bulletin Board Morons responded with:

a) general abuse directed at me
b) claims that I did not understand the Iodine industry
c) references to Numis buy notes with 156p targets. 

It is clear that those buy notes were not fit for use as loo paper.  It might now dawn on the Bulletin Board moron

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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Tom Winnifrith Bearcast: Shame on PWC & Numis, Hat tip Jim Mellon and ouzo for a vindicated Lucian Miers

Jim Mellon says he loves listrening to my podcasts and has sent over a very interesting article following the pulled We Work IPO which I discuss at length. The into PureCircle (PURE) which Lucian has called brilliantly, notably here. Yesterday’s shock warning tells us so much about the disgraceful apathy of folks like Numis and PWC when evidence of aggressive accounting was there for all to see over many years. I discuss another company shown to be swmming with no trunks. It will not be the last.

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