BIG 0.00% $2.22 big un limited

I thought I'd left this behind a long time ago but let me say,...

  1. 150 Posts.
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    I thought I'd left this behind a long time ago but let me say, all IMO of course and as a non holder you really have no clue.

    a.) So you don't think people were scammed? Just look at the fallout. Yes some people were greedy, others naive however they invested and held due to reports provided by the company. If those reports are based off questionable accounting methods then the phrase "scammed" isn't too much of a stretch. As one member wrote here some time ago, if you board a plane in Sydney and the pilot says we have enough fuel and everything is good to fly to London and then a half hour into the flight he says we are out of fuel and about to crash would you feel scammed?
    b.) So was it the accountant??? Or the actual company CFO Andy Corner? Pretty sure it was the CFO but happy to be proven wrong. I know I won't be. But please clarify. The stock crashed by half due to the USA market crashing??....wow.....I didn't realise BIG was so aligned with the powerful USA markets, it really was a behemoth wasn't it (insert sarcasm). Oh and the ASX jumped in to save it going to zero. Exchanges don't do this, how do you know it was going to zero? Why couldn't the stock have maybe found a level anywhere but zero which would still be a traded price? A market is there to allow prices to find their level no matter what that is. There was a halt put on the stock due to other reasons. I can't believe what I'm reading.
    c.) RE absolutely knew and was all over the accounting method (how do I know? I just do)
    d.) Past form does play a big factor. (do some research beyond the toilet stuff).
    e.) You say you "heard" of a company shorting BIG, can you please provide the name of the company or entities or is this just rumour? Was the stock even able to be shorted?
    f.) The accounting method didn't put the final nail in the coffin, it put the first nail in the coffin. The last nail was the method getting discovered. I'd say if people knew upfront how "sales" and "cash" were reported there would not have been one investor. You can't jack a share price though without plenty of investors and an eager buying pool can you? Hmmmmmm.
    g.) You say, "Unfortunately we were all caught out by some very clever conniving immoral people and I believe the directors of BIG were too"
    Ha!! Amazing how closely related those parties are sometimes in situations like this.

    With all my goodwill and purely by judging your analysis and comments here, for your own sake, please stick clear of the stock market in the future. It's not the place for you.
    Last edited by momentum71: 08/11/19
 
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