My apologies. I meant to say the 20th of January.
It was an initial listing date which was postponed due to a lack of - well quite frankly, due diligence.
But rather than spin the delay in a positive albeit dishonest way as I exampled in my previous post.
They played the blame game, it was an amateur move, a knee jerk reaction that they failed to correct in a timely manner.
Is this a good company? Yes, it has a great deal of potential.
Have they screwed up the IPO and their initial public image? Yes without doubt.
It leaves investors with a sense their IPO was an attempt to cash in on the 2020 CRN Fast50 recognition and that they rushed through the process. In truth it resembles the "it's profile photo day"... If your not sure what I'm talking about.
https://www.nexionnetworks.com/who-we-are/Frankly It's lazy.
Can they recover? Absolutely. But....
Crisis management and public relations is an area that desperately needs attention.
For myself personally. I invested with a long term position. But... It's the minor details that matter. They need to take a deep breath, rally and get it right and they only have days a week at most.
Otherwise, we'll see a lot of 35 - 45c a share in the first 1-3 days then a sharp drop back to and possibly below 20c on day 4 or so.
Had they not screwed this up, the share price would have come out of the gate on day one at... +/- 60c and leveling at 30 - 35c 3-5 days later.
Anyway... That's probably enough out of me.
Dal
(20min delay)