I just said a lot of holders sold some or all of their holdings after downloading and attempting to use the app which is true - many have stated so on hotcopper, plus individuals in my private investing network, plus probably many who used to post positively on Thred and now either post negatively or not at all, plus probably many who never posted on hotcopper, plus most significantly Assenna Wealth and Hunter Capital who presumably sold after trying to use the app, hence zero positive Twitter posting on app release day or since.
They promoted Thred and played a major part in moving the price up and generating mass interest pre-release, and if they loved the app they probably would have continued to hold and continued to promote on Twitter.
Conspicuously silent whilst selling on app release day, WHICH WAS THE ETHICAL THING TO DO.
As in if they were promoting and saying how amazing the app was whilst selling at the same time, that could be seen as unethical.
Not to mention they would have been losing their clients' money if they didn't sell on app release day.
Btw fund managers aren't allowed to sell their personal holdings until AFTER they have finished selling their clients holdings. If they do the ASIC would go knocking on their door.
I've got no issue at all with the big placement takers promoting the potential of Thred pre-release, then dumping silently once they realised it was a dud (at this stage anyway, it could still be a billion dollar company in 5 years, which is why I've held on to 250k shares)
I can't provide advice but I'm allowed to say that I personally won't be re-loading until it hits 1.2c.
How many millions of dollars is a useless app worth?
Let's be generous and say $1.5m. That gives THD a "fair" share price of $0.006.
THD Price at posting:
2.1¢ Sentiment: None Disclosure: Held
