So... What Happened To All The Praising Of The CEO??
Could it be that those who were attesting to the guy's integrity like they've known him all their lives are now questioning whether some shenanigans are afoot?
Lets review...
-A publicly traded company that was trading under 200k shares per day saw a spike in volume and price based on some organized promotion around pending assays.
-People were told the results were repeatedly due any day.. as per the promoter attached to the company who posts over on #Ceo.ca/adz under "HRA-Coffin".
-The Promoter attested to hearing this delivery date promise directly from the Ceo's lips over and over again.
-Millions of shares, many from the same brokerage house, sold into the volume .. in spite of bullish news being due and then overdue. The same pattern accompanied the selling on at least two seperate occasions where millions of shares were dumped each day.
-The chatter from the resident pumpers, promoters, and integrity attesters over on theother board has dried up faster than the share price.
So what do people think is going on???
Lets all agree that the lab didn't repeatedly lie through their teeth to the Ceo (That narrative is just ridiculous).
What concerns me is there wasn't exchange intervention.. this reeks.. and it smells exactly like a classic case of insiders or insider associates dumping while one of the paid posters/promoters connected to the company works the retaiers with golden promises...
.. regardless of the reasons and who benefitted... it traded 15x-20x average daily volume (The echange should have forced an explanation.. often in the form of the news people were awaiting.. from the company).. and then it was sold down aggressively (In other words a large shareholder or three dumped their positions).
Posts on the other board mentioning how it would be great if they held news back for weeks until the new year etc are a sign of some really really naieve retailers.. I hope they are part of the promotion .. as otherwise they are dreadfully in over their heads.
What happens next is they usually all begin to focus on a new shiny object (A different drill hole etc..)..
A good lesson for lurkers.. especially ones on the other board who bought into this nonsense and defended the "character" of a Ceo who is well known for this nonsense.
So what do you do now?
Well.. you could call the company.. explain how their credibility is tanking.. and they should maybe think about detailing the dates they received EVERY PIECE OF INFO from the lab (To try and stop the bleeding) ... err... well... they may not care.. afterall.. this is how they've likely made their money since.. well.. their whole adult lives just about.
Here's what you do:
Contact the lab.. tell them a Ceo is allegedly claiming they are utterly incompetent by promising the results for weeks etc.. they may not give you any exact details.. but they might defend their own reputation with a summary of sorts. (Don't be surprised if they say he's received ALL the results.. just syain)
Contact the exchange.. tell them you are concered that the stock wasn't halted.. that a promoter was working retailers while the company awaited news.. and the exchange didn't see any red flags at 15x-20x volume... and now that volume is still driving the price into the toilet... and the company is still not publicly releasing news ... now you are concered that this pattern that has gone unpunished will become the norm (Always imply they dropped the ball somehow)
Contact the BCSC.. and tell them InDaMoney says they are utterly useless.. and the head of the BCSC fingering vacant orifices during work hours would be in line with what he thinks of their ability to protect anyone.
People should be expecting this "news release" to turn into another financing.. why wouldn't they sell into the anticipation and use the actual news to tie down some more money???.. If you shareholders are stupid enough to sit on your hands while this nonsense plays out.. and allow them to pull millions from your stupidity.. why wouldn't they do it again? It's how certain people may make their money.. right Eric?
Any time a stock chat forum is a love fest for the Ceo/Insiders etc.. it's always bad news for shareholders at some point.. I remember the lead analyst for a fund that was holding a ton of BlackBerry (RIM) responding to my comments on these forums about how it was about to tank.. the management team was beyond obtuse, and utterly arrogant and even indifferent to the pending crash.. but it was the analyst's job to see the facts.. instead he attacked me and anyone else who sent out warnings.
....He actually went on TV and called it a BUY.. and then the fund sold like crazy in the coming quarter.
That's what happens when people don't challenge you.. if no one is keeping you honest in an industry that literally allows you to print money.. how long before you challenge your own moral compass?
What a culture weak minded media pundits had created there (At RIM).. reporters and analysts were more interested in being "friends" with the company and its people than they were about challenging claims and fundamentals.
My point is simple.. its your money.. and you are the only one who actually cares about it.. everyone else has their own game/agenda.. the likelyhood of a competent moral analyst or activist shareholder giving you the heads up is slim.. and it's even more slim that you'd listen.
Trust Absolutely No-one! If it doesn't make sense to you on some level.. that's your intuition warning you. Challenge.. stop going along to get along... and when you feel you've been conned in soem fashion.. start digging.. I'm serious.. I've caused Ceos to be removed among other things.. Management should fear shareholders.. just as governments shoould fear the masses..
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"When governments fear the people, there is liberty. When the people fear thegovernment, there is tyranny. -> Thomas Jefferson
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You can indeed keep them honest people.. at the very least make playing shennigans with news a thing of the past...
Make it not worth the while! Although financially this time it appears to have paid off handsomely if we're correct about the shenanigans.. a regulator's fine would offset that... and a hit to the reputations of those involed etc.
See the point here? Don't lay back and be a victim.. if these characters were out of line.. let the company know that's how you feel.. then the echange.. then the regulators.. lol
The tone of discussion about these investments should always have a skeptics slant.. you should always have one foot out the door so to speak.. what I mean by that is you should not have any sort of relationship that might prevent you from seeing the risks clearly... as witnessed here.. Coffin's alleged game depended on all you retailers holding your paper in anticipation of that incredible news on those never seen before core samples.. or do you think those remarks about the lab delays and promises galore were thrown out there for something to do?
Known when you're being played people .. invest accordingly. Think for yourselves.. and learn how to use these boards.. I'm bringing forward a couple of platforms I think will benefit retail investors... in fact I know they will.. I'll post a link where you can at least get on a mailing list to find out the launch in the near future. They don't really compete with current stock chat forums.. they do however fill a couple viods that benefits retails investors effectively.
Cheers!
InDaMoney;-)