Anyone else is prepared to put their name on their buy or sell recommendations. The top 20 or so existing holders would have raised questions quietly over a period of time if they had real concerns. One competitor hiring someone to put out a defamatory “report” - if I was that competitor, I will be so angry at the report because it will backfire on me??? (It is poorly written.)
This is not a black swan event. It is just defamatory. CCP was singled out amongst its peers. If CCP is that bad, so are the others. PNC is suffering today due to this “report”. We may as well say this type of lending sector is wrong. Then ppl can borrow from the mafia instead. Desperate people through no fault of their own (sometimes) will need money. Loan sharks have always existed. One listed on ASX is much better than someone on the street corner.
Trouble is: stock markets is about perception before reality. This report is aimed at the perception of CCP. If this type of attack becomes the norm, then competitors in every industry will issue crappy reports like these.
CCP Price at posting:
$18.84 Sentiment: Buy Disclosure: Held
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