Memory shares dip further
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Shares in Memory Corp, the AIM-listed microchip repairer, continued their slide yesterday, on investor fears of a sharp decline in profits, writes Mathew Horsman.
From a high of 555p last September, the shares plunged to 135p at one point yesterday, recovering modestly to close at 142p, down 13p on the day. The drop follows a single-week rout of 215p last week, as the shares appeared to be in free-fall.
The drop has infuriated investors who subscribed to a placement of 1.2 million shares at 420p last autumn, just before a computer-chip price war was launched by US giant Intel. Prices for chips have dropped by 60 per cent since then.
Memory Corp was relentless promoted as a one of AIM's clear success stories: a high-tech stock with a clear market niche. Floated in 1994 at 45p, it joined AIM in September last year.
The Scottish-based company buys defective chips, repairs them and creates refurbished boards for computer manufacturers. It had initially estimated the value of the market by 2000 to be pounds 20bn, but that is sure to drop.
Memory also suffered production delays that affected results in 1995. That year, the company posted a loss of pounds 1.95m.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments