I was in contact with fulida side last year and been told the mess in the old management, and they were about ally with other shareholders to turn the company on the right track, and so we have seen some changes in the management since July last year.
However company did not perform as good as expected since then, they say operation still have “resistance from management”.
So My feeling was 1. Must be diversified if invest in cigar butt/ cycle stock 2. Rather buy good company(and management) with fair price than buy crappy with cheap price... the worry of holding a problem company was not worthwhile.
I sold 60% of WLD and invested in MYX last year and it turned out to be right.
Recently I been told they agreed to fire Fred and will fire other management who doesn’t meet requirement, and likely to cut overall wages. I don’t have alot information and not going ask very frequent as they not intended to tell me much. I don’t have confidence in the management and don’t feel like much positive is happening yet.
I hope it will turn, but my faith for this company is next to zero.
WLD Price at posting:
10.5¢ Sentiment: None Disclosure: Held
