The spike in share price won’t holdThe casual investor rushes to buy Torstar when the quarterly results aren’t a disaster and this spikes volumes and the share price. It doesn’t hold for long as the “Bozo Factor” overrides any short term positive sentiments.
The list of management scrrewups could fill a volume of Harvard Business Reviews. Taking $200 million from the sale of Harlequin and doubling down on the advertising dependent VerticalScope is just the most recent example. Between management and the incompetence of the Voting Trust it is impossible to sustain any positive momentum with the share value.
That’s okay in the final analysis. It is only when the Voting Trust hoists the white flag will shareholders be rescued from the grip of incompetence. It can’t happen too soon for all concerned.