RE: RE: RE: Wish broker agree to sell POOSF ... I totally agree! The mere fact that they allowed trading gave false hope and sucked people in to the vortex who should not have been there. It was obvious that they should have issued a halt while either seeking additional information or coming to the decision they announced after the close. Having made the initial mistake there really was no reason to wait the full trading day, as a cease trade does not give anyone unfair advantage.
I don't know what they use as triggers but there were many points, all the way to the initial drop back in November, that could have used additional information that would have been pried out by a cease trade order.
Therre are many examples of cease trade being used to ensure that all relevent information is available to all shareholders, a recent one was Surge energy that ceased trading after to 25% drop in share price, the company simply used it as an opportunity to state that they knew of nothing to explain the drop but also updated on production.
Being called to explain, the company would have been hard pressed to avoid highlighting the receivable issues and may have had an opportunity to pre-announce the dividend suspension rather than waiting as they did.
All hypothesis but I hope that the exchanges are examining their decision points with a view to improving their timing.
Terr