You don’t usually see an art and antiques dealer sized up by stock touts but London’s Mallet is traded on the exchange and its rival Partridge fell into bankruptcy administration which has investors pricing Mallet for the same fate. At least one speculator, however, sees good news in Mallet’s misery:
A year ago the world’s most expensive chair sold for £19.6 million at auction. Yet at its current share price of 61p, investors value Mallett at less than half that price. That takes into account everything it owns: Meta, an arty furniture maker it launched two years ago; James Harvey British Art, a gallery; and Mallett’s 60% stake in Hatfields Restoration. Continue Reading