Quindell – A Question, an Answer and a Cut in Target Price to 1p

Today’s shock news about the RAC has sent Quindell (QPP) shares diving – they are now at 180p. The whole thing stinks. You can read my initial take HERE. But I now move on.

Quindell had stated that as of July it would be installing 50,000 black boxes with the RAC a month. By the time of its 14 July trading statement it must have known that the number installed was then NIL and would be NIL in July. Yet it did not inform investors. That is a clear breach of AIM rules.

The number is still NIL because

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