4142 days ago
AIM Cesspit listed Cupid (CUP) has announced that it has sold its casual dating (i.e. casual sex) sites for £43.1 million. Paid for researchers Edison have published a note giving this the full spin. But watch out. All is not as it seems.
The sites being dumped were the ones where it was alleged that Cupid was doing dodgy things in the Ukraine. Of course the KPMG whitewash (I mean independent report) cleared Cupid of all wrong doing but since KPMG did not even speak to the reporter who uncovered all the alleged wrong doings and who has not been sued for libel, that report was a joke. But now Cupid can distance itself from that sort of thing by flogging the sites to their founder, Max Polyakov.
For £43.1 million? Er no.
4357 days ago
I have been enjoying a three week break from this website and to celebrate my return I offer a free share tip in the form of AIM listed online dating group Cupid (CUP) which holds an EGM tomorrow to authorise share buybacks. Oddly the stock has dipped ahead of that EGM which will be a formality and that presents a buying opportunity.
Whatever your views on social networking, the fact is that the shifting of social interactions is moving further and further online across the globe. Cupid is successfully tapping into this and whilst, on a superficial basis, the current price-earnings multiple may not look overly attractive, further investigation reveals that within a couple of years the current share price seems likely to be looked back on as a great opportunity. Having risen from a 60p listing price to highs of 250p just over a year ago, the share price is now 166p valuing the firm at £140 million.
