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Now on a PE of only 0.45, why does Daniel Stewart not rate Naibu as a buy? Because it’s a fraud!

Tom Winnifrith Sunday 21 September 2014

 

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Shares in China based AIM listed fraud Naibu have slumped to just 23p today – they were 50p on Thursday before the disastrous interims were published. House broker and Nomad Daniel Stewart (the firm that signed off on the Quenron IPO) stated on Friday that earnings will be 46p this year and that fair value is 50p. So why is it not rating the stock as a buy?

Surely a PE of just 0.45 and share price upside of 140% makes this a screaming buy. The only problem, as Daniel Stewart knows full well, is that this is a fraud 

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About Tom Winnifrith
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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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