And yet this report has panicked the company into requesting a trading halt and now furiously knocking up a rebuttal (one would hope).
Who ever has written up the report would have already taken out a short position in the company and are banking on a fall in the companies share price in order to profit from it. Pretty standard short seller ammo, take a look at the likes of Muddy Waters(took down some massive chinese frauds listed on the US exchanges), Glaucus (took down BLA on the asx recently), Viceroy(in the process of taking down MiMedx) etc. One thing I have learned by watching these short sellers in action is they always hold back some of their ammo in anticipation of the companies response. So its going to be interesting to see the companies response and if checkmate is holding back further information which they will use to as a rebuttal.
Another red flag that checkmate raised was the sale by the CFO of all his shares lasts year, I also note the COO holds no shares.
CCP Price at posting:
$18.84 Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)