Hi Turtleboy, firstly I think your handle is on point. When in trouble a turtle withdraws to the safety of it’s shell. Much like a shareholder exhibiting a strong position based bias.
To ignore information potentially detrimental to your investment is your choosing, the couple of posts I’ve made are not for those like yourself but rather for those who genuinely want to understand the company they are invested in.
Now a couple of nobodies on social media have in a very short timeframe exposed sufficient evidence to pretty much rule out ICT and associated companies from being a genuine, ethical company.
Management and the board at EM1 obviously did not expose this information or worse made the choice to proceed anyway. Then on the day of the announced deal you’ve got mass distribution of issued stock. My suspicion is that you’ll see a few used the liquidity to exit large positions.
Here’s a few questions anyone choosing to hold should pose,
1. Would I be comfortable holding this through an ASX imposed suspension where management are forced to prove that they are acting in shareholder interest? This quite likely happens today ?
2. Do I trust management ?
3. Who are the large shareholders who stood to benefit from the liquidity ?
I wish you all well and hope I’m wrong here. I’m not typically one to downramp but if the information helps one person to save their shirt then it’s worthwhile taking the incoming criticism on my posts.
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