Monitise update

Since looking at Monitise a while back as one of those potential growth, but not for widows and orphans type stock, the share price has steadily gone down.  The trend on the longer term chart was down when they announced impressive results, mentioned in this post.  It carried on going down.  Today however, Goldman Sachs announced that the company had been put on their "conviction buy" list with a price target of 60p, which is more than double the current price.  The shares are up around 10% as of writing on the back of this.

Should be remembered that this company doesn't make a profit yet, but it has all the right ingredients to be a growth stock that could take off.  It's one of those DYOR and buy with money you don't mind losing if it backfires type stock. On the other hand, it could pay off handsomely if all things go to plan over the long term for the company.



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The daily chart actually does look a little ugly, the trend mostly down.  This may have something to do with its business being closely connected to the banking sector, or it may be to do with the fact that AIM has been a terrible market, down around 13% over the last 6 months.  Monitise is down around 21% over 6 months.  As I say, not for widows and orphans.