I'd hold back on calls for new management for now.
So far I think they've been doing a great job of building the company.
However the complete manipulation of the share price has become a complete disaster for all shareholders and the "ignore it and hope it goes away" plan has proved to be a dismal failure.
Now the management must address this issue as well as build the company. They have to acknowledge the disaster that has affected the SP and come up with a plan to fix it.
I don't know if the company buying shares would work or if it's the best use of important funds but it's an idea that should be worth investigating. The manipulation has been successful because the shorters have been so aggressive and prepared to toss 20 million shares out to make sure they keep control of the SP even when strong buying happens as they did on May 3. They've scared off buyers completely and no-one has been able to match them for volume. BoA/ML have been playing with 42-48 million shares. If the company was to buy 20 mill shares and cause the price to rise significantly, the market would notice and join in adding to the difficulty for market manipulators.
From where the SP is now it will take a 1000% improvement just to recover to where the SP was two years ago - and the company has grown significantly over that time.
- Forums
- ASX - By Stock
- dte shorts on 15th nov
I'd hold back on calls for new management for now.So far I think...
-
- There are more pages in this discussion • 13 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)