RE: QCM's Latest Action18 Jun 2023 11:01
ShortWhacker - That was my interpretation of the statement on 1st Feb, with the focus to be on the current situation, rather than the past, something that most investors are probably more concerned about.
With the share price now well above the price on the days before QCM's report it seems the more recent buyers are largely sanguine about the outcome of EY's report.
There is a feeling that some have, including me, that a number of the current management team are protégés, including all the highly negative connotations, of the person that started, financed and controlled the company from it's inception and for much of its existence.
While QCM do seem to have correctly identified serious problems in a number of other companies, if they are essentially wrong here, I'm expecting many here and elsewhere to be making formal complaints against them.
However, I can still envisage a number of scenarios where QCM are largely correct, while EY's report gives a largely clear bill of health, primarily because QCM are backward looking and EY current and forward looking.
Investors are of course going to mainly concerned with the forward looking prospects.