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Home Business News Woodford shares nosedive after slashing value of Brad Pitt-backed firm

Woodford shares nosedive after slashing value of Brad Pitt-backed firm

by LLB Editor

Disgraced stockpicker Neil Woodford’s fim, Woodford Patient Capital Trust (WPCT), saw its shares plummet today after the firm slashed the value of its holdings in a company backed by Brad Pitt

Link Fund Solutions lowered its stake in Industrial Heat, an energy firm trying to harness the power of cold fusion that is backed by Pitt along with philanthropist Laurene Powell Jobs’s Emerson Collective.

Shares in WPCT fell more than six per cent following the news.

A Woodford spokesperson said: “Woodford is not responsible for unquoted valuations across any of its funds. Link is ultimately responsible for the pricing and valuation of unquoted stocks and it employs an independent valuation company in the process.”

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