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Potentially you are right. But big news leaks fast so a...

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Tigerchamp05

72 Posts.

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16/07/21

11:44

Post #: 54548903
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Originally posted by townesvanleven: ↑

Simple question, but why would CRO have asked for a trading halt pending the release of an announcement in the first place if they didn't in fact have a compliant announcement ready for release? Looks a lot like an unforced error here from management.

Its like they've told the ASX that that they have an announcement, and then spent the next several days scrambling to actually prepare the announcement. Reminds me of when I was in high school and would do my homework at the last minute and the teacher would make me do it again after class because it was such a mess. For a company wanting to be a "portfolio stock" its simply not good enough.

I'm trying not to be too harsh here but no matter which way you want to spin it, this extension is not ideal. It significantly increases expectations meaning that if there is any fluff to the news it is going to be very harshly judged and with expectations this high, the news will need to be really great in order to justify the delay. The old rule of thumb of under-promising and over-delivering doesn't seem to ring true here and we've been put in a situation here where we might end up doing the opposite.

Now to put things in perspective, I do not think this delay is a problem on the grand scheme of things for the CRO story moving forward. I am still bullish on CRO & the management team but I can't be the only investor here who is getting a little bit concerned with how this announcement has been managed. Floate wants to be a "portfolio stock" but these sorts of unforced errors show me that we're still a penny stock with a few more years of lessons and fine-tuning before we can get to where we're headed.

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Potentially you are right. But big news leaks fast so a suspension stops those in the know from insider trading.

CRO Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
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Potentially you are right. But big news leaks fast so a...

Monadelphous inks $200M contract with Woodside to help build Pluto LNG – but will it make Scarborough cheaper?

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Potentially you are right. But big news leaks fast so a...

Top Stories

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Nova locks in NASDAQ US market listing at a value of only US$3.3M as ASX gets quieter and quieter

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ASX Market Open: ASX200 to rise for Friday session | July 26

Featured News

Buyers (Bids)

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