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Verditek Share Price Plunges 8.3% on Reports It Lied to Investors

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Updated: 19 August 2020

Shares of Verditek Plc (LON: VDTK) today fell 8.3% after an expose by Tom Winnifrith revealed that the clean energy and solar power company lied to investors in 2019.

However, this is not a new expose as it was first published on August 12th when the company was trading at an all-time high of 19.0p.

The stock hasn’t lost much since then given that it is currently trading at 15p despite today’s 5% decline.

The company has been signing new contracts having recently opened a new office in Australia and secured its first order in the marine sector.

Verditek also recently signed a new deal with the Regional Government of Sindh in Pakistan that will see it deploy one of its containerised solar units within the region.

The good news has kept a lid on the decline in Verditek’s share price, and it is likely to continue rallying in the near future.

Verditek share price

Tradingview chart of Verditek share price 19082020

Verditek shares today fell 8.28% from an opening high of 15.7p to a low of 14.5p but was slightly higher at the time of publishing.