Originally Posted by
BlackPeter
I suppose the $1 will probably provide a bit of support, but lets just get used already to call it a penny-dreadful ...
Just remind me - what did they sell the share for at IPO - Was it $5.75?
I guess what Ian McCrae really did was selling the shares much too dear and that way keeping a much higher share of his company than what he deserved. Funnily this is exactly what brings the company now down. A stronger and independent board might have been able to avoid this disaster ...
Anyway - terrible trend. I definitely wish employees and holders a good outcome, but don't think that now would be a good time to buy in. They definitely need first a board with some (more) commercial competencies to turn the ship around.
DYOR