Great post lmac. PW staring straight down the barrel of the camera and I'm struggling to find appropriate words to describe how his strong words have [not] been matched by actions. How to describe saying one thing and doing another? I seriously can't think of any company that has announced a share buyback, coupled it with extremely strong words about striking on shareholder behalf, has enormous cash resources to do that buyback yet does basically nothing? Do they not care for their credibility or legacy? There is probably about $210 Million cash now - In the video they reference $175 Million as being ample for their needs yet here we are today in an unimaginable position post their announcements to the ASX and videos etc. The company is so much stronger today. ASIC data shows shorting activity is constant, growing and controlling the CUV share price. From the video:
"we believe that the market valuation lies far below the median seen in biopharmaceuticals"
Jefferies with their $39.20 and Bell Potter with their PT about 100% higher than here certainly agree. Why do things have to be so hard with Clinuvel? Just do the buyback like any normal company would, improve sentiment, strike on shareholder behalf and stop giving short sellers the total control.
All IMO DYOR
CUV Price at posting:
$10.40 Sentiment: Buy Disclosure: Held
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