I have dipped in and out shorting WPCT for a while, and I am having another dip in for a short position.
WPCT is still stuck trying to sell illiquid holdings from a position of financial distress, the board has just released the NAV at 58.10p (6th November 2019) a month ago it was 64.67p (4th October), 11% drop.
When you look at the monthly NAV drops over the last year, its as though investors are being let down gently.
Share price has dropped 25% in the last month.
How low could it go, market cap is £298M (855M shares) - personally I think a market cap of £150M would be a fair target.
WPCT is still stuck trying to sell illiquid holdings from a position of financial distress, the board has just released the NAV at 58.10p (6th November 2019) a month ago it was 64.67p (4th October), 11% drop.
When you look at the monthly NAV drops over the last year, its as though investors are being let down gently.
Share price has dropped 25% in the last month.
How low could it go, market cap is £298M (855M shares) - personally I think a market cap of £150M would be a fair target.
Comment:
Rode this short down to 24p - but time to say goodbye to it as it has been taken over by new management, the new name is Schroder Uk Public Private Trust