Thomson Financial News reported yesterday…
Sellers were also about in I-Design Group, 5-1/2 pence down at 41 pence, as the provider of ATM advertising solution, turned in widening half-year losses. The company is positive about its long-term prospects, but the impact of rescheduling the deployment of its ATM advertising solution for one customer will affect results short term.
In reaction, Arbuthnot shifted its stance on the stock to ‘buy’ from ‘strong buy’ and slashed its target to 52 pence from 80. The broker recogonises good progress in increasing the number of financial institutions deploying ATM:ad on their ATMs, but thinks the rescheduling will have an impact on I-Design’s revenues for both this year and next.
i-design Group (IDG) are of course the parent of ATM:Ad
IDG is a stock on the UK Alternative Investment Market that listed back in July 2007 at 73 pence, despite Arbuthnot’s ‘strong buy’ the shares on the day fell a further -12.90%
Who would be an AIM Listed company these days?