Maybe. I have also been critical of management and as per recent posts, voted my reasonable holding against the issue of the performance rights to Richard (and implored others to do the same...with little support) at the last AGM and have been quite vocal about getting real commercial experience onto the Board and into senior management - which on the face of it, they seem to have done. At the end of the day, a company that is in its growth stages needs the on-going support of its shareholders, through thick and thin, to have the best shot of being successful. That doesn't of course mean that shareholders should hold (or buy) irrespective of material bad news, but the termination of the Sonic agreement and change in sales strategy happened 5 months ago and as (rightly) happened, there was a sell off by those who saw it as a negative at the time and over subsequent months. The share price now should have this news baked into it and the fact the shorts are reducing (as opposed to increasing) means to me that the market is not expecting any further bad news in the near future. We are now 5 months on with a number of positive announcements having been made so I struggle to see what is driving (some) shareholders to sell now when we are quite close to seeing whether the new strategy will work or not. As previously stated, it seems to me general impatience is getting the better of some and that of itself, is never a good strategy to make money or help the company achieve its goals.
PIQ Price at posting:
67.5¢ Sentiment: Hold Disclosure: Held
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