Over the years Wandisco has represented a real test of nerves for British investors. The Aim-listed British software company has been in recovery mode for the last two years, after it plunged from a £1 billion market valuation in 2013 to £50 million three years later. Its founder and chief executive David Richards, was forced out in 2016 amid a boardroom row, only to return to power a week later.
This has meant a roller coaster ride for shareholders as the company over-promised on its prospects and potential and burnt through cash. Today, with a market capitalisation of £248 million, it appears firmly in the ascendant, although it has still to make a profit.
It owes much of its turnaround to a decision taken early