Trading games until announcement, page-491

Walkingeagle - Shorters, HC posters and the media (and anyone else you blamed in your post) are not the cause of the 95% drop (approx) in the share price of SGH.

The share price is where it is currently because:
- in the six months to December they reported a loss of about $950M - nearly one-third of their pre-result total assets on the balance sheet
- shareholders funds as at 31 Dec are reduced to about $375M, which is less than the value of the remaining intangible assets at the same date
- operating cash flow for the six months was negative $83M. For current or prospective investors, this is the most important metric for the reason that if this level of cash outflow is maintained, all bank facility headroom will be gone by around August.
- there are existential threats to the company being a going concern which equity markets are not in a position to assess - initially items such as the possibility of ongoing losses causing facility covenants to be breached, and in the future the likelihood of successful class actions against the company if the 2016 EBITDAW figure is not a figure north of about $170M (which seems very likely at this stage.)

None of these items were caused by shorters or the media.

They were caused by management action (such as the payment of far too much for the SGS businesses) or lack of action - such as not moving to remedy the operating cash flow issue as soon as it became evident, or possibly not having adequate management accounting processes in place to know what is happening in the group.

And if you go over all the SGH threads on HC, there was a lot more up-ramping of SGH than down-ramping, with a lot of assertions being made by people claiming to have finance backgrounds etc that they were certain that the financial performance of the group in the December half was going to be something that would make the share price skyrocket on 29 Feb.

Are you intending to report these people to SGH board / ASIC / wherever also ?

The ongoing viability of SGH may be better than it's currently perceived by the share market, but there is nothing on the public record currently for the market to work off other than what has been reported to date.