Yep, agree! some serious damage to the shareholders' sentiment here.
Numerous people complained, and nothing meaningful came out of it. Just because they have cash on hand doesn't mean they give a rat's to shareholders concerns.
There were promises of a webinar to keep the market better informed. When I pushed for the timing, I've been told that Monsoon is the expert on when to do these webinars to maximise impact on the market...clearly seems they are still busy counting the fees earned.
I have a funny feeling that Wilsons is selling since last Fri...today there are 6 * 2mil parcels, 4.5 parcels executed so far and 1.5 parcels worth 3.5mil shares still on offer at 1.3c. If this hunch is correct, then they have a lot more to sell from their ~5% holdings. Possibly, broader market sentiment sent a memo to multiple instos to manage risk and take some money off the table.
Sorry, rant over! Having said all that, I'm still buying more here and sinking further with the ship. No changes in FA, but TA is suggesting either something bad is coming up or someone with large holding is bailing out. I'm betting on the latter, hence staying course.
All IMO, please DYOR!
SCU Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
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