Ruspetro (RPO) has already served up a profits warning in 2013 and for its timing as much as its substance it is already in line to win an award for the biggest shock of the year. The share price at the close on Friday was 83.5p, valuing the firm at £278.4 million but given that the release went live at 6.30 PM the stock will be hit hard on Monday. At what point should you buy if at all?
6.30 PM? Yes that is not a typo. To release a profits alert on a 3 day Christmas week is band enough. After hours is poor form. But to sneak it out at 6.30 PM on a Friday when the few people who were at work last week were already onto their third after work pint is quite shocking behaviour. A management team that serves up such an announcement will need to prove itself consistently for a good period to regain the trust of investors.
What makes it worse is what the statement actually said.
on TradingResearchPoint | Comments