RE:RE:Up 25% after lattice was removed from board
Craigbad wrote: Now if you could just get them to ban Bnn from talking about the stock. McCreath said he wouldn't touch the stock with a ten foot pole today an Hodgins said this yesterday.
It is a call option on whether the debt holders will start declaring bankruptcy. The strategy had a lot of merit. They made a mistake by taking more debt for their UK acquisition when the financing was not fully lined up for it. Brexit caused the company to decline, but the debt was in US$. It is crushing the company.
fundtrader wrote:
huge short covering rally today..will continue next week ...MT stepping down is excellent news..a new ceo would help push the shares up big time...
How many times did McCreath use the word "debacle" ??? And did he say "he was wrong?"
McCreath almost looked like he was tearing up when he was admitting to his mistake.
https://www.bnn.ca/video/concordia-ceo-steps-down-it-was-inevitable-says-andrew-mccreath~977777
This was an engineered move up on a buyout rumour in the morning, and has becgan the drop back in the afteroon when the news came out that the CEO was stepping down (likely fired and more on that story).