You may be right overall, but the specifics of BLY warrant some attention.
Personally I couldn’t commit to the effort a deeper forensic dive here would need. As a one-time small-time punter here around ten years ago I’m glad to say I got in and out and largely dodged the train wreck.
But I’d love to read how the stock market machinations of BLY over the period would have evolved for long term holders. My gut, and the peripheral reading I’ve given it over the period, would suggest this company ranks with the all time worst destroyers of wealth on the ASX, no? What would 10k invested ten years ago here be worth? And let’s say 10k, ten years ago, and then chipping in with raises as they came along… Ouch. This company would have saved investors heaps if it had simply died years ago, without all of the refinancing attempts, no?
And I now read the current shares are 98.5% owned by the top 5 investors and bought out by a U.S. company? Just wow. There has to be at least a graduate thesis here for a researcher somewhere amongst this cautionary tale… What have they been up to???
BLY Price at posting:
$2.75 Sentiment: None Disclosure: Not Held
