Discussion in 'Stocks' started by stock777, Jun 2, 2011.
How come they halt a stock in Toronto and it continues to trade here on the pinks?
to give muddy waters readers a chance to short it on the pinks
shorts must have been mighty tough to come by after the first blast.
"Analysts demand answers from Sino Forest"
John Stephenson, Senior Vice President and Portfolio Manager, First Asset Investment Management tells BNN that many investors tend to steer clear of companies facing such severe allegations.
âAs an investor on the long sideâ¦we just get out. Iâm always of the view of where there is smoke, there is fire,â he says. âClearly, the market is betting there is some truth to this report.â
From the Analysts:
Stephen Atkinson, BMO Capital Markets: âAt the analystsâ presentation after the annual general meeting on May 31, 2011, proof of ownership (Forest Certificates) was requested but the Chairman and CEO, Allan Chan, did not want to release this information for competitive reasonsâ¦ Given the information vacuum regarding the issues raised and the halt in stock trading on the TSX, we have lowered our rating to Market Perform (Speculative).â
Paul C. Quinn, RBC Capital Markets: âClear disclosure of the company's plantation purchases, sales, and the long-term master agreements, preferably by a third-party source, is warranted....We believe that the allegations are very serious and significantly increase the uncertainty associated with the company.â
Benoit Laprade, Scotia Capital: âWe have never encountered any suggestion of fraud when visiting the company's operations in China, or when meeting with company management or China Forestry Bureau representatives...However, given the severity of the allegations contained in the reportâ¦we will need incremental information from management to address/clarify the key issues at stake, which, ultimately, are the ownership of its timber assets and legality of its organizational structure.â
I'm a newbie and have a question - still learning the ins and outs
What is the worst possible outcome for Sino Forest?
What is the best possible outcome?
Thanks so much any information is appreciated!!
how did billion dollar funds come in after block outed these chinese crooks (redundancy noted) and buy up huge amounts of this?
morons or did they short the stock in offshore accounts and rob their customers.
no one is that stupid, except maybe most of et's members.
Chandler's paper loss is well over $100,000,000, and his position was established after the Muddy Waters report. It is difficult to understand.
Separate names with a comma.