I have to admit I was a massive bull on ASC a while back... a few things made me skeptical before the profit warning.
1) Massive volume on the sell side 2) Rivkin said no to Days interview
Since the downgrade its completely obvious what was going on but at the time its very hard to separate insider selling to investors selling because of the general investment markets.
These guys should be punished for not revealing their intention to sell earlier... If Ive ever seen a pump and dump this is it.
Where to from here? Well the announcements are getting worse and worse. There still is a business there but the risk profile has dramatically increased.
ASC Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
