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Blinkx (BLNX) Share Price London Stock Exchange October 30

Blinkx (BLNX) Share Price London Stock Exchange October 30

It’s been a tough year for Blinkx (BLNX) and on Wednesday there weren’t many signs that things are about to get better. After opening at 28.25p the shares lost money throughout the day and closed down 4.35% at 27.50p.

The company released a depressing profit warning earlier this month and revenues are continuing to slow. However, for those willing to take the long term view, brokers Numis are recommending buying while Jefferies international are recommending holding. This is largely because the company has large cash reserves (over £70 million) that it can use to invest in its future and turn things around, but it will take time.

Nonetheless, investors aren’t convinced, on Wednesday 52.08% of Blinks’s shares that were traded were bought and 47.92% were sold. The indecision is largely due to the fact that it is fairly safe to assume there will be further short-term losses.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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