If he is reputable his name and probably copyright claim would be attached to it. Really anyone can have a blog today and many more will suffer unless the law is beefed up to stop these anonymous scribes. Lets say he wanted to avoid being caught then he will have used a free wifi hotspot and linked to some obscure VPN which probably states he is in Russia or another faraway place, meanwhile they are in Sydney and probably banking their short profits after finding this way to get out of a short position which may have been out of the money when they hatched the plan.
The fact that the ASX was about to put the company into a trading halt really is the real issue here - surely they need to know who the person is that is claiming this before it can be credible. They never seem to act appropriately in my opinion and list companies like BIG then want to be seen as innocent when it goes wrong. I think that the roles between ASIC and the ASX need a better definition and that we need real oversight. I think I am going to be looking at other markets to invest in as I don't see this happened on the LSE to the same extent. However to be totally fair the likes of Glaucus and now an unknown and seemingly unidentifiable expert cannot be stopped unless we have far better legislation. There have been companies that have carried on after an attack but really the time is now that legislation has to change to allow companies to claim libel or defamation - as I understand it only people can claim that but those hurt are people but they are indirect.
If this turns out to be fake news how many sold at huge cost...
CCP Price at posting:
$17.46 Sentiment: None Disclosure: Held
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