Take lessons from this embarrassment31 May 2024 07:58
I have no dog in this fight. I am an ex-employee of Petrofac so keep a watchful eye on the share price.
Firstly, anyone who buys shares based on someone’s ramping on a share chat board needs to give their head a wobble. Some of the constant ramping on here is embarrassing but rarely gets called out. Anyone who gives a reality check about the poor performance of a share gets jumped upon as a shorter and doom monger. Yet how often do these people actually call it right?
When the share price crashes the negative posters (or perhaps realists) are told to remember people have lost money with the falling share price.
It’s amazing to see people profess to be experts on valuing a share price based purely on turnover. What is evident in this RNS is that turnover means nothing if you can’t turn a profit on that turnover.
Never has the often trotted out comment of “DYOR” been more appropriate. If you’ve invested based on Mickey Mouse comments on this board then you quite frankly deserve all the losses you get.
Live and learn from this cluster….