My PerspectiveTelesta is in its death throws? Yes, probably. No, maybe.
I am no expert on dying companies, but it appears to me the company is trying to proceed correctly. Cut costs, shelve your product, sell assets, then dissolve. Sounds okay.
On the other hand, they are telling any interested parties the same thing, and some may react positively. Big buck people are very good at vipering a failing endeavour for 1 cent on the dollar.
Management have stated there is no interest in MCNA so they are shelving it immediately. This is a good ploy, if it is in fact a good ploy. I hope it is, however, it clearly may not be.
Today, 19M shares were bought and sold. Many shareholders sold, and many bought. SP nearly halved on the news. But why are there so many buyers? It's easy to understand the sellers' philosophy, but do the buyers know/see something most don't? Or are they basically risk taking types?
i personally, was thinking of buying a few weeks ago to enhance my holding, and to double down to reduce my overall losses. I didn't but I now may. Lol, anyone who has made money on this stock has done well, because 99.99% haven't. Don't lie to yourself, we don't care!
Bottom line is, let us hope this is a ploy. If a big company is truly interested and see a possible dissolution of TST, they may act.
The glaring facts, however, is we all invested in a failed company, but we and Telesta Management gave it our best shot.
Best Regards,
lorneg