The real problem is the chairman. How does a chairman end up with 18m shares for performance!?!? - way more than the CEO doing the work. Smells of enriching oneself at the expense of shareholders.
How does a chairman sack a CEO without even having a permanant replacement or any permanant plan to announce?
A chairman spending 10min ranting on about share manipulation in an earnings call smells of zero strategy.
Really fear this is another medical developments in the works. A company with a great product with a low rate board holding back what should be a highly successful Aussie company. The loss of a COO from CSL (less than 1 yr tenure) then a CEO - both without replacements rings alarm bells everywhere. Zero succession planning.
With the headstart PNV has had in this space its surprising a late comer like Aroa can generate similar sales growth. Again Zero strategy
Its all going to come down to the next earnings call - if PNV falls back into loss because of "rising input costs"/higher "logistic costs" and covid re-lockdowns instead of higher profit due to rising sales..... the shorters wont be manipulators they will be prophets
PNV Price at posting:
$1.45 Sentiment: None Disclosure: Held
(20min delay)