RE:I’m quite pissed myselfI agree 100 %. This was an unforced error by Peter and his response is to say he did not think this news release would affect the stock price and if it did to blame anyone who sold for being uninformed.
Lets look at the history here.
On Sept 11 the BNN analyst kneecapped shareholders by doing a complete 180 - going from saying on May 29th possible 1.5B (with a "B") contracts to just 1 client with 9 more possible (this echoed statements from PYR) .... to Sept 11th saying he guesses a couple torches in 3+ months for testing then maybe 10 by Mar 2021.
The stock price collapsed something like 30 to 40% until being rescued by a PYR news release saying the analysis is uninformed and to look for well under 3 months for news.
Fast forward to yesterday, Nov 12th and what is the news now 2 months after McWhirter interview ?
Client "B" - quote for 4 torches. Not a contract - a quote.
No news on Client "A" ( even though the major points of a draft contract was agreed to months ago ).
Client "C" - months ago they did not want a modelling phase and wanted to go direct to contract talks --- now - future plans are to START a modelling phase.
And to top it all off we now have introduction of a completely new business model - one centered on leasing and not selling torches. Leasing, to my knowledge, has never been mentioned as a option prior to yesterday. Why - because leasing involves a 3rd party who will want compensation. I am not saying leasing will not work but it is a material change and clearly the 2nd option if selling torches at 3M a pop is not acceptable to clients.
My point is that ALL of this in a news release that was dumped on the market 45 mins from close. The result was a panick sell off as people saw that the Client "B" quote was for 4 torches. This was very much in line with the McWhirter assessment that caused a 30+% drop on Sept 11th.. What happened yesterday - at its low a 25 to 30 % drop.
My question to Peter is --- why not wait an hour and relase news after hours. You took the time to explain things on Agoracom but that doesn't help those - like me - who had a stop loss triggered or sold some shares due to the news dump. The panick selling was predictable.
I am long PYR but these unforced errors are pissing me off .... trust is eroding ....