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KIT Digital - Possible punt for a quick double.

  • 05-12-2012 8:15pm
    #1
    BrokenArrows
    Registered Users, Registered Users 2 Posts: 7,501 ✭✭✭


    KIT Digital KITD

    52 Week Range $0.59 - $12.65

    Current SP $0.75

    Price crashed from $2.07 to $0.59 after the company reported that due to errors and irregularities, it will need to restate its financial statements for 2009, 2010, 2011 and part of 2012.

    Offers have been made to take the company private for $1.35 -$1.70 (reduced from previous offer of £3.75) but the market seems resistant to this offer.

    I think the market may believe that this offer is an attempt to pump the share price as it is being led by a former chairman who is still invested in the company.
    http://finance.yahoo.com/news/group-led-former-chairman-ceo-152700684.html

    Possible punt for a double.

    I am invested in this company from $0.64


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