This should go without saying, but the reason non-holders should refrain from posting is simply that they have a massive conflict of interests, which renders everything they say meaningless.
That is, non-holders who are interested in the company are always looking for the cheapest possible re-entry. Therefore, it is always in the interest of non-holders to downramp.
And, this is not just a self-evident truth in theory alone. If you look at the postings of non-holders, they are 100% negative...not 70%, not 80%....100%!!! I challenge you to find one optimistic post from a non-holder in the last 6 months.
This is not the case with holders, whose views range from wildly optimistic to furiously critical of management (e.g. the forum in the last few weeks has been overwhelmingly negative, even though most contributors are holders). This disparity demonstrates as clear as day that holders can be impartial in ways that non-holders cannot, which makes their posts worthy of reading.
The posts of non-holders are like the the claims made by a self-confessed liar...meaningless ("I always lie, but this time I'm telling the truth"). But in this case the claims are not compromised by pathological mendacity, but are hopelessly compromised by self-interest.
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