emotions prevail and become the main drive in decision makinits so obviously clear that the majority of posters on this board are just rookies in stock trading and as such react very emotionally to something that indeed is a trivial manipulation. such manipulations happen all the time in trading and comes with the territory. there is no point in ruining one’s nervous system by reacting so hysterically to something that should be treated as entry opportunity instead. Clear writings on wall for me are:
1. the report is point blank manipulative hence the veracity is very doubtful;
2. such a report is nothing new in its kind, cron is a good example;
3. companies like PWC take their signature under verification and transactions coverage extremely seriously as they had been slapped in the past with billions in fines for insufficient DD. So there is simply no way there was an embezzlement of the magnitude described in the report going on and PCW overlooking it or furthermore indorsing it. Anyone who has come to deal with PCW in the corporate world will vouch for that.
4. 258 million bought deal was closed as recently as July this year led by a syndicate of investors. a syndicate typically does through away quarter of billion worth of investments without conducting a thorough risk and credibility assessment.
5. today the management bought 300 + plus worth of shares (including Vic). Would they be wasting millions of their dollars if they knew the allegations were accurate? Please don’t come back with an argument that it was done as a smoke screen now that they stole hundreds of millions. If the allegations in the report are even remotely accurate, now that the Pandora box is open, no one will be able to swipe it under the carpet and Vic is anything but an idiot not to realise that and waist a million just for nothing knowing well the sp will continue to tank.
I bought APH this spring at 10. sold at 18.65 and re-entered today at 8 with 50 K shares