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Would I rather be long or short of blinkx? Dunno!

Tom Winnifrith
Tuesday 8 April 2014

Steve Moore and I have been bearish on blinkx  (BLNX) from well into the BE (Before Edelman) era. Our concern was simply that the rating was too high. We were right to be bearish although it won us no fans on the Bulletin Boards. But now that the shares have slumped to 91p would I rather be long or short? To be honest I just don’t know. I do not have a Scooby. Here’s why.

Ben Edelman made serious allegations on Saturday at The Uk Investor Show. If he is correct then one part of the blinkx business is generating revenues from adware in a way that the FTC prohibits. It is doing so, according to Edelman, via a unit which under its previous owner was shut down and fined heavily by the FTC for doing the same thing. I would have loved blinkx to have accepted my offer to respond to that claim. It, so far, has not.

What I am trying to get a handle on is what percentage of blinkx revenues and profits come from this area. I chatted to short selling analyst  Paddington Bear last night and he put it thus:

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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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