They paint the tape here on a consistent basis. Typically it isn't as large a percentage as today though. Tomorrow will tell if auction fears are meaningful. Remember it has been known for months that not participating in the auction could be a negative.
That is great that he got back to you. Hopefully you will have the call tomorrow.
If the call does happen, I would greatly appreciate information about the VIE. Do they have to use it do to restrictions? If not, have they considered changing it? IMO if the VIE structure were removed, PME would be go up many multiples higher than the current price.
Next question is regarding the external audit. Why are they doing one? Is it to get ahead of the MOF proposal (see Paul Gillis China Accounting Blog)? Maybe can read between the lines on any answers you get to this one. Trade alluded to there being other possibilities.
I believe that they want to increase shareholder value but as long as the VIE structure is there it will be very difficult and short attacks will continue to happen.
Thanks again Country. Your update will be very much appreciated. I too sent a couple of emails to IR but haven't received a response.
I agree too. I am now fully committed with maybe 0.01% in cash. Earnings should be coming soon. Who knows what the timeline will be on the audit.
Talk about manipulation. Even with the announcement they are still using the same tricks to as you indicated: take out stop losses. I have a lot of shares and haven't sold any yet. We may have to wait for earnings but I'm not planning on sell for less than $3.
It would be pretty awesome if this took off before GURE, OINK, and PME earnings. Could send some profits their way.
I have about 12,000 seats on this train. Lets hope it starts chugging up the mountain...I think i can.... I think I can.... Too many kids books ;)
Just took a little profit but still holding some shares. Not as many as I have had in the past as I am extremely overloaded on OIBR and PME. But as we all know NLST moves fast and when it does there might not be much opportunity to chase it.
I also recently read a comment from Carson Block. He believes that investors in small and micro-carp China stocks are more likely to sell at any hint of fraud (true or not) to protect their gains than they are to hold and hope for more gains. It seems that many posters on SA believe the same and it appears to be holding water. But the tides will turn again and they have given us lower buying points.
Just finished reading the CXDC article. Immediately reported it to Seeking Alpha. And I agree it is even worse than the hit piece against PME. I like that management responded though. It shows that they care.
...“We believe transactions with large shareholders without proper disclosure to minorities are negative to corporate governance,” wrote JPMorgan Securities analyst Andre Baggio, quoted by Reuters.
Baggio added, however, that if Oi pushes for a lower valuation of Portugal Telecom’s assets, the improved merger terms should boost the Brazilian operator’s share price.