Bonkers Bargain soars | Not so magic WAND
News of fraudulent activities at one of AIM’s larger companies leads to the suspension of trading in its shares. We communicated our concerns previously about this over-hyped business and sadly it’s not looking good for shareholders. Thankfully, it’s better news elsewhere, especially for one of our Bonkers Bargain opportunities, which continues to look ridiculously good value. Read on here for the latest.
WANdisco – this fraud is not entirely unexpected Our sympathies to those unlucky enough to hold shares in WANdisco (AIM:WAND), the data activation platform, which has announced news of “significant, sophisticated and potentially fraudulent irregularities” WAND’s shares have soared over recent months on the back of regular news of significant contract wins. The latest update now suggests that these were largely works of fiction, with the Company’s survival now in doubt. The irregularities will significantly impact the Company's cash position and lead to a material uncertainty regarding its overall financial position and significant going concern issues. The WAND Board now…