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JoeGambler

7,166 Posts.

2021

22/03/24

11:43

Post #: 73011090
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Originally posted by BJReplay: ↑

This is so on-topic for the Treasure Trove - another reverse takeover listed tech company that has problems with the ASX.

I've posted the link (and I assume that HC's clever tech will replace it with copyright-link), but so you can find it, it's on that rag that Joe Aston used to write for, and the title of the article is ASX hater Weebit Nano must be a wee bit joking

Here's a choice quote: '“I’ve talked to many tech companies that trade in Australia and everyone is pulling their hair out because the ASX has these insane requirements and this insane way of thinking,” Hanoch said, declaring the market operator “50 years behind the world”.'

And 'Over the past 12 months, Weebit Nano has picked up more than one letter from the ASX, probed about the information provided to the market. In June, the company was put into a trading halt when director Fred Bart resigned, leaving Weebit Nano without enough Australian residents on its board. Plus, there’s now a party of short-sellers in the stock – about 6 to 7 per cent of Weebit Nano is sold short.'

Just one more for colour: 'It’s produced a string of duds, but boy have local traders and Hot Copper warriors piled into this zero-revenue semiconductor company'

It's funny how the ASX is great place when you're going well and your stock lifts you into the ASX 300, but not so great when the same ASX starts asking you questions. Maybe they should sue the market regulator.

Well worth a read with your favourite paywall bypass.

https://www.copyright link/rear-window/asx-hater-weebit-nano-must-be-a-wee-bit-joking-20240321-p5fe6u

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Read that article, definitely a stock that smells like a future zero. Reverse takeover companies are a red flag in itself. Article also mentions the ASX is interested in the customers of the company, is the ASX learning?

SP1 Price at posting: $1.07 Sentiment: None Disclosure: Not Held
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