This 17 year and IMO stale CEO, with one eye on the exit door needs to send a belated and desperately needed update to the market on Monday morning. With the share price touching 14 year lows today, shareholders deserve honest answers, and nothing less.
For full disclosure, I broke one of Warren Buffett’s golden rules late this afternoon.
Buffet said: “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price”
Despite all my misgivings, I put a toe into the water buying 121,000. And on reflection, Starpharma is less than a fair company. In my opinion it’s an under-performing laggard with serious questions to answer. I’m probably crazy and may regret this decision, but I’ll add more if we go lower, let’s see what happens.
The main impetus to buy was the low enterprise value. There’s still many dangers, traps and hazards ahead, and I still maintain Viraleze and DEP-Docetaxel are commercial duds. There is also a legit risk of a capital raising before EOFY as well IMO.I’m holding out hope for an opportunistic take-over offer or some other positive announcement out of left field.
I’ll continue holding if there is a bonafide positive announcement of substance, whereas I’ll have no hesitation in dumping into a sugar hit price rise based on a fluff announcement.
Anyway, have a good weekend fellow shareholders.
P.S. Personally I would like the Chair and CEO to both resign prior to the AGM and give this company a fresh set of eyes, ears, principles and leadership.
P.S.S. Even though I’m now a shareholder and want my investment to prosper, I will continue to loudly call out any missteps, failures and questionable developments going forward.
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