Blinkx (BLNX) Share Price London Stock Exchange October 30
Thursday brought some relief to Blinkx (BLNX) following a disappointing week. The shares opened at 27.50p and immediately started rising and at one point during the morning they hit 29.50p. However, the afternoon saw the price drop to 27.63p before recovering to close up 3.64% at 28.50p.
Brokers are remaining largely confident about Blinkx with Jefferies International recommending holding the shares while Numis recommends buying. However, investors clearly feel differently as on Thursday just 33.49% of Blinkx’s shares that were traded were bought and 66.51% were sold.
Blinkx’s problems come from a profit warning that said that the company is set to record a loss for the first half of this year. Blinkx has the cash to continue operating with an estimated £70 million in reserves, but investors will be disappointed about the lack of profits.