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Showing posts with label Blink. Show all posts
Showing posts with label Blink. Show all posts

Tuesday 20 November 2012

BLNX.L shares takes a dump

I've covered Blinkx (BLNX.L) before, and you can say that I'm not a fan of the company, the way it does business or its ethical stance.

So it's quite amusing to see Blinx shares take a dump and drop 10% today. Why? Because of their associate with Michael Richard Lynch, a director of Blinkx and also former CEO of Autonomy Corporation, who finds himself in the centre of a massive row with new owners HP. HP have written off 87% of the value of their acquisition over alleged false accounting practices.

Presumably BLNX.L shareholders are worried that some of the toxic effects of this meltdown will also impact them. If these as-yet unproven allegations prove true, then who knows..