It's turning into a train wreck of sorts, and the directors will not respond to me, and never have.
They said they'd fund the acquisition of Cohort without a capital raising, but the recent price declines has all the hallmarks of a smack down in preparation for a 20 cent capital raising. Get ready.
Whoever at PPL agreed to the cost and terms of the Cohort acquisition should be sacked - clear and simple.
PPL directors and management made themselves look incompetent and weak.
The Cohort guys were smart, they grabbed the money, duped PPL at the price, and did-a-runner out the door, never looking back. Meanwhile PPL shareholders will be suffering as a result of it for years to come.
And Cohort shares don't come out of escrow until May 2018, when there will likely be another smack down.
Somebody sold well over a million in 3 days this week, which is unheard of for such an illiquid stock like PPL. Somebody wanted out in a big way. I want to know the reason, and if we will see a 3B. The directors are silent.
Disappointing. If I wasn't down, I would sell. But I'm gonna hold and hope, at least for a while.
Gw
PPL Price at posting:
24.0¢ Sentiment: Sell Disclosure: Held
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