There’s a distinct whiff of burnt fingers in the City of London on Thursday morning.
The share price of punter’s favourite Pursuit Dynamics has crashed and burned after the fluid technology specialist announced a big revenue shortfall, a £10m rights issue and the resignation of its colourful chief executive Roel Pieper. Read more
Many FT Alphaville readers won’t have heard of Pursuit Dynamics, a London-listed company that claims to have developed a sophisticated fluid processing technology.
But the firm is at the centre of an extraordinary battle between short sellers, City dealers and day traders that’s being played out on internet chat forums and is becoming increasingly more poisonous by the day. Read more