How so? Ideally, yes, the company would have held to their targets. They didn't. There's been a sell off of some measure that has reacted to this.
However, an expectation that a speculative start up that's in development phase will hit 100% of its targets? That's naive. There's no BAU pattern that's been established for the company, making the future very uncertain for them.
I also don't have an expectation that the company should be laying all their cards on the table, particularly if the cards are poor. To release announcements stating they are falling behind, not meeting plan, etc...if the market reacts poorly to no announcement, imagine how it would react to negative announcements? As I said, I believe the announcements have been made in good faith; the company genuinely believed at the time of the announcement that what they were saying was achievable.
What I would expect with keeping investors informed is to announce if they were abandoning or significantly changing strategy with their products. This is a material announcement to make. But so far, they haven't announced anything as such, and so it's fair to say are proceeding with their original strategy, but are just off on the timings. If you invested in NOR based on the products they are producing, then timings shouldn't be too much of a concern; it becomes a matter of "when" not "if".
Even if they announced that they got it wrong, they'd be tentative to announce another date in red font and bold in case they get that wrong too. It's rare to come across a company that lays it all out, warts and all.
Expand
