Same sorry to holders who lost money. Even though I pointed out that SGS is all that they own and has no history of profitability (while @DrWho lied about it) it sucks to be proven right. This announcement has flagged another impairment in that business.
That slices another chunk out of shareholders equity in a woefully undercapitalised business. Will be interesting to see what the directors think the business is worth this time.
People who lost money weren't alone, it's not a lack of intelligence for me it's the method that most market analysts apply which is flawed.
That's why I go on about it, I think the discussion should turn to how to avoid situations like this. The class actions will carry on better just go criusing or whatever and not think about it.
GLTA.
SGH Price at posting:
21.0¢ Sentiment: Sell Disclosure: Not Held