Let this be a life lesson to never buy something just because the big dogs are invested.
Fact is they're not there to share the profit, nor are they charities or want to lose money which could be theirs, if they thought it was amazing at the IPO price, they could have made a bid to get it private. It was just an ANZ ploy to milk cash to develop a business they wanted to buy, and then they scooped it up cheap.
Smells just like Youfoodz before it, and Synlait taking losses to service it's core stakeholder A2M, Aussie Mom and Dad investors, paying for major corporations R&D and Business Development.
Won't be the last time the big companies con the "sophs" and retails.
CRW Price at posting:
$1.14 Sentiment: Sell Disclosure: Not Held
