On Thursday, I shared my bemusement upon rediscovering Hot Tuna (HTT:LN). Great memories, but an appalling valuation and share price history, and even more appalling management. I wondered ‘…is this the worst AIM stock ever?!?’
After a last gasp sales surge since then – yes, I believe they sold almost 50 t-shirts over the weekend – they woke up Monday morning with a God-awful hangover and empty pockets. Jeez, time to sell the rest of the t-shirts, the van, the drunk surfer girl in the corner who won’t wake up, even the damn Hot Tuna brand itself..!
The message boards were predictably set ablaze, and offer some hilarious reading. But in general, unimpressed shareholders continued to play pass the hot potato, marking the share price almost another 30% to GBP 0.05p. Seems like shareholders are at one extreme or another: Dying to repeat the whole sordid exercise, or swearing to never buy any shares ever again. So no lessons learned all ‘round it appears. Shame on management!
So goodbye Hot Tuna, maybe you’ll turn up in Walmart someday…