RE:RE:Anyone know if Western Ivey 'I always thought that when an investment dealer did research and tells the public what they think the company is worth then that's actually what they think it's worth. " AP
Ethically you would think so....
But I am not sure they ever really told the investing public (in any significant way) what they thought the company was worth. Maybe that's the loophole?
I know that a few Spectral shareholders (that knew enough to ask for analyst reports and the updates) were able to get ahold of the report. IR couldn't very well withhold it from shareholders who were asking for it.
However, I see no evidence that the Reports were widely disseminated to the public, in a big way, on either side of the border. But I stand to be corrected in case anyone knows differently. I know someone here had an issue with their ability to access it via TDW.
I like to think that a company that has a favourable independent analyst report, would seek to have it made as public as possible, so as to support the share price...which in turn might make future financings easier and less dilutive (ie. palatable to ALL shareholders). I would also like to think that any analyst would demonstrate their conviction by: (1) buying shares in an undervalued company that they covered, and (2) recommending it to their clients. Pehaps even advising the company against a financing that would be done at a little over 10% of the analyst target (which might dilute future earnings for thier clients that were interested in buying it). I would also hope that there would be no temptation to rasie money for that company at a price far below the analysts target, simply to earn commission, options, warrants etc. And I would hope that there would be no appearance of impropriaty or loss of independence by virtue of the individuals involved and their current or past relationships.
But maybe that is just me?
MM