Whilst I don’t disagree with Veecat’s characterisation of some brokers as “uneducated and irresponsible” (I might even add opportunistic, thieving, lazy and corrupt actually while on the other hand I know some who are entirely ethical and highly aware of the space in which they operate) I do think that the mechanics of a CR need to be put into perspective with the corresponding SP movement at the time.
This is, as far as I am concerned a non-issue, was obvious at the time that the SP got away at the worst possible time from a perception perspective and has been explained clearly and adequately by the company on more than one occasion including Wednesday past.
Anyone who seriously believes that the CR could be done overnight based on a ‘live’ share price, with respect, should educate themselves a little more. Line up interested investors, the legals, the deals to be done all while the SP was much lower than 15c FFS.
People who bought shares at the ‘current’ top just lucked out…for now. If you bought at that time looking for a quick trade then quite simply you miss-timed it and are suffering – we can tell who you are. But if you bought for long term appreciation due to belief in the product then I imagine you would be pretty pleased with the recently alluded to developments which far exceed my expectations (world wi-fi, Corona cloud). Still all hinges on whether it works and if it does – great. If not then the price you paid will be irrelevant.
I won’t go so far as to say that you shouldn’t invest in the share market, particularly the immature ASX and specifically start-up companies but please spare us the sob story when you do and it goes wrong unless there is unequivocal evidence of mismanagement. The only option NOR may have had (and I am not even sure it was an option) was to abort the CR. I can't begin to imagine the
I can't begin to imagine the fall out of an action like that - brokers still get paid, pissed off investors - probably sue NOR for losses (claiming a SP of 15c vs their promised lot at 8), credibility shattered - would never be able to partake in a CR again under same management.
Seriously people analyse this for what it is and give it up - now here are the results just in.
NOR Price at posting:
5.3¢ Sentiment: Buy Disclosure: Held
