Evil Knievil: Patience will be rewarded
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We got a cracking results statement from Manx Financial (LON:MFX). However, the price was unaltered and now stands at 9.25p offer. The reason for this indifference was that there is still no dividend announced. The PE is clearly of the order of 4 and asset cover is twice the share price.
Arron Banks sold 1m last week and I picked them up. He still has c. 30m shares to sell. I would take them now since I suspect his sales are prompted by the need to raise cash rather than a reassessment of the trading outlook.
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Six Hundred Group (LON:SIXH) issued a trading statement and things are clearly going well. Now 18.5p offer. This is a solid buy. The target price is 30p.
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One of the problems is the general ennui surrounding AIM stocks. Hence Shore Capital (LON:SGR) yesterday declared their intention to leave altogether – SGR will be quoted on the Bermuda Stock Exchange. But patient investors can just be patient. Their patience will be rewarded.
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