The major shareholder, and the individual that was instrumental in building this company into what it was (and likely also into now what it has become), has sold out.
There was (quite obviously) fund performance issues - along with many other facets to this saga - that led to this outcome.
Contrary to popular HC myth, shorts can't directly cause the SP to decrease. Shorts are on the other side of the bet: their investment thesis leads them to believe that the SP is overvalued and that the company may face headwinds in the future.
How much lower will the SP go? No idea. I would want to see 2-3 months of stabilised FUM before even considering investing, and based on recent SP performance I don't think I'm alone.
MFG Price at posting:
$8.68 Sentiment: None Disclosure: Not Held
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