"Disturbingly a placement happened in this window. But it has to be said, anyone following the company understands how they work so it's hard to feel too much sympathy, they would know the tiger doesn't change its stripes."
^ This.
If an Insto or Soph put up $100k each based on the Ann and in particular the guidance statement: "may exceed $50-100k per week" without basic Due Diligence then they deserve any losses.
They had 2+ weeks from the time of the guidance to the raise to:
1. Check out Google Play
2. Look at trends and comparative data in App Annie for Google and Apple
3. Ring Spark directly.
Unless they were swayed by bullish posts on HC about direct downloads from Spark (defunct web page) or $million upfront payment incentives for PO (from an obsolete agreement). Probably not because they would have read the show stopping news from Manila.
All imo
NOR Price at posting:
2.8¢ Sentiment: Sell Disclosure: Held
(20min delay)