Quindell PLC (LON:QPP) (OTCMKTS:QUPPF) released its third quarter financial results today, and despite the statement’s upbeat tone Quindell’s stock price fell 8% before it started to rebound and it is still down more than 4% in intraday trading (currently at 147.00p).
Adjusted cash increases, but cash holdings is still down from 1H14
Short sellers like Gotham City Research are still claiming that the stock is a zero, but today’s drop probably has more to do with some troubling fundamentals than short seller accusations of fraud. First off, Quindell PLC (LON:QPP) (OTCMKTS:QUPPF) lowered its guidance for 2014FY revenue from a £800 million to £900 million range at the end of 1H14 to £750 million to £800 million in the statement released...
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