Management fooled everyone into believing they were competent. I wish I had talked to some folks at Adidas about Ken before I threw a few bucks at this. Given what I know now about Ken, I would have avoided this disaster. At least this should end his career in the entrepreneur business.
Well, I can't really comment on whether this stock was being "pumped" or not so I guess that is up to the SEC to determine. I first read about the company in the Wall Street Journal when cotton was so high that it seemed like Crailar had a great thing going. I bought in and added along the way. Before I knew it, I had a substantial holding. I believed that the timeline was 1-2 years but that progress would be made and my investment would be justified. I became emotional rather than objective about the stock and just couldn't believe some of the negative posters on this board. I now realize that they were more insightful than myself and analyzed the potential accurately and saw the light. I believe the company's product has great potential but not the company itself. Management is not forthcoming and has never shown that it believed in itself by buying their own stock. I should have known better. It cost me a fortune to get out today and am kicking myself for not doing so earlier. And to think, several months ago I was actually slightly above break even. I think Barker and the rest took us for a ride by never giving us more timely updates and accurate information. I learned a hard expensive $100K lesson here. With over 1 million shares sold today, I can't help but wonder if management dumped theirs as well.