The resignation of these two directors is actually bullish because for the past few years, they have been doing nothing but leeching off the company's cash via remunerations. Major shift in shareholding and board of directors.
Just like Tafi which l bought at avg price 2.65 and then it drop until the lowest of 1.77 . I sold at 1.85 and from then onwards it stage a continuous strong rebound. Bang balls. Watch out Mgrc will stage a strong imminent rebound like Tafi. Can buy some for short term gains
Any reasons why the two directors resigned? Since they were accounting professionals, was it due to disputes in the accounts? The market's response believes so. Until this matter is cleared, I believe the shares will continue to fall.
wallstreetrookie Ex-Bank Negara banker and Fintech professional. 09/11/2021 7:25 AM
One other indication, the directors who resigned were in their thirties i.e. in their prime, whereas for the replacements, one was in his fifties and the other in his seventies! Seems like more of a cover-up to me.
yeah you sold so you will find a lot of reasons to support your argument.
Anyways doesn't matter. I have 20+ other companies to cover. If the company fails, I wouldn't have any emotion at all. Very diversified portfolio so if a stock tanks, I would just buy the dip
How to turn things around, if the existing Management Team does not cooperate with the new Board members @wallstreetrookie? Please remember, this counter is in GN3 and have a regularization plan to be submitted to the exchange before the deadline 31/12/2021 time is running out. You can change the entire Board members but the Management Team remain the same, and how things can be cook up. Best of luck!!!
I write with the best of intentions. I'll continue to watch this counter closely for future entry. When a major shareholder wishes to exit, it will be foolish to support the price. The game changer is still the cell lab. If the Management is unable to get the licence by year end, existing investors will lose confidence and dispose their shares in earnest. Just think, the Management had appointed senior ex-MOH staff to be directors for the singular purpose of getting the cell lab approved. It will be a fiasco if they still can't and the effect will be felt on the share price.
Look at CircleDNA, this is a Hong Kong company and they have been doing a good job in promoting their product and branding in the social network and where is MGRC. To be honest, even they have appointed ex-MOH senior staff as Director is only getting the cell lab approval, most importantly is the company needed to get more new businesses and improve the profitability. Just like Chinese poet says “Changing the Soup but not the Medicine”.
When the share that has been moving up most of the time, suddenly drops like a stone, we would want to know why. Is it due to profit taking or some serious underlying problems in the company? If it the latter, if we had purchased at the peak, our indecision would have cost us plenty. For the fortunate early birds like me, we still have to decide on whether to stay put or cut our profits. It is through sharing information that we have a better chance of making the `right decision'. Hope you understand.
wallstreetrookie ohh when the stock price is down, a lot of comments come out
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