performance rights are arbitrarily set by management to award themselves more share in the company. Simple. They could set it at 1 cent expiring next week and award themselves another $1million in shares. Yes an exaggerated example but it illustrates my point. This arbitrary setting of free share giveaways is something thats outta control. Management see the bright future thanks to the EV revolution and are frantically grabbing as much company equity as possible at the expense of the honest investor. It's crystal clear. Charles is a major shareholder and can almost certainly keep giving himself and his closest free shares.
Damn I wish I could give myself millions in the company I work for just for doing my job.
lets not forget this is not a new company. They've been around for years and years. The only reason Charles is still in the position is because of the investors. The history of VMT is not a particularly good one. It wasn't long ago that the company was on its last breaths. The rising tide by the EV revolution rose the VMT boat. The proliferation of EV manufactures is the proof. VMT have not capitalised on their perceived manufacturing advantage and have depended on 3rd parties like Super Soco to provide a finished, marketable, mass market product for them sell. When Stash bikes are selling 20,000 units a month then I'll shut up, but we all know at this rate we'll all be dead by then.
yes I'm frustrated and I will hold my shares for now. But absolutely they are taking the pi$$. Any suggestion otherwise is either denialism or plan ignorance. Just Mho.
VMT Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
(20min delay)