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To be honest B2HS2L, I feel really stupid. Everyone here knows so much more about Nova. I just looked at the accounts and the products. Never thought to check out our PR team or who else the PR team might represent. To be honest, the way the information was coming out, I didn't think that we HAD a PR team. I was thinking that we really need one! Little did I know that it's much worse than that. But, I have only myself to blame and have learned a valuable lesson here. I didn't know about this site, otherwise I would have checked it out before buying.
I must say, despite the odd coaxer, it's the most intelligent share chat site that I've seen. So, I may have lost some money, but I've found a great team of people who, by and large, are extremely well-mannered as well as highly intelligent and sophisticated.
I'm not saying this is recent. But, if Nova was with these people before Avacta, they should have installed a clause to say that they wouldn't represent any of our competitors. It's standard procedure.
If they didn't have the weight to do it, they should have gone elsewhere as soon as Avacta signed them up. Again, standard procedure to have a clause that frees you up without penalty if such an event takes place. Easier clause to include when you're not a big conglomerate.
Am I the only one that doesn't see how stupid it is to have the same PR firm as a competitor and the steps which could have been taken to prevent it?
Of course they are. There is a very close relationship between companies and their PR team. All they need to do is ask "ok, so what is the company up to now? Tell us what are you working on so that we can plug it. When are the results of the test coming through? What are your fears about how this test might turn out?" Knowing GM, he'll say more than he should and over-talk his fears (as he has in the past). Not to mention the fact that as the PR firm, they'll be in charge of the strategic communication. Why else would Avacta's possible product get so much news coverage when Nova started testing its actual product ages ago and not a para in the Huffpost or similar publication.
Someone here wrote a couple of days ago that the Independent loves bashing Nova. Why is that? Why haven't the PR firm got on top of this and talked about our achievements? What are they bashing us with? We have 20 times the revenue of the previous year with an incredible profit of 101 Euros out of the 311.6 turnover. We have a great balance sheet and lots of cash as well. Do you know how rare that is for a bio-tech start-up?And yet, no-one has heard of us. Every time I mention Nova to people (which is often) they say who?
And yet, Avacta, which has turned a £1.8 million revenue for the same period, into a LOSS of a £7 million gets a whole article in the Huffpost about a product which hasn't even gone into testing, erroneously saying it's something that it's not, and get an 8.2% rise in sp in one day and 37.59% rise in 3 months.
These are not coincidences. People don't take PR seriously at times but PR can make or break a company. Why else would companies spend billions in advertising. every year?
Thanks Dartron for the explanation. But, I now have a whole different problem. Just read that GM has hired a PR company which also represents Avacta. Is there no end to this man's foolishness? Apart from the conflict of interest, does he not realise that all kinds of trade/strategic secrets could be given away to our competitor? No wonder Avacta are doing so well. Make sure you read the stream labelled PR and see what you think of the (non) responses to shareholders as well. I'm truly blue now... Short of getting rid of this incompetent CEO, I feel we have no hope. And, I can't see how we can remove a fat-cat CEO. So much easier to remove the savings of a scardiecat...
Revenue or even profits don't mean anything if not communicated properly as we saw with the 2020 announcement. Dividends, if any, will not make a dent in the 21.27% which I've lost already. I still had hope but to hear that GM has hired the same PR people as our competitor made me lose all hope , seeing as communication is one of the major problems of this company, if not THE major problem.
This is crazy AgentB - surely there's a conflict of interest here.
I was thinking FTI must be the worst PR company ever until I read your post.
I just don't get where this CEO gets advice from. First he puts everyone off even though the company did so well in 2020. Then he hires the same PR team as a competitor. How can he even be sure that trade secrets aren't making their way to the competitors. What on earth is he thinking???!!!
I've really lost hope now - the man's a car-crash. He's not just bad at communicating - he's running the company to the ground....
Am I missing something? Why is the price going up after a sale and down after purchases?
I know there's difference between the buying and selling price but how can there be 18.77 margin after a big sell?
Thanks for your comment tkr. After the share price performance of today (and recent weeks), I really needed a belly laugh :-)
What???!!!
Where did you get these numbers?
Totally agree with you. Unfortunately, psychopaths get quite a lot of joy out of upsetting people. But, you're right that he/she may be shorting Nova. Well said.
What's the opposite of schadenfreude?
Porky9 - I totally agree with you. Nasdaq is the natural home for this company. An innovative and fast-moving product needs a buoyant market. I think the CEO's bearish mannerism doesn't do it any favours either. Right after announcing incredible results for 2020, he "cautioned that it was "difficult" to provide a clear forecast on the financial performance for the full year" - per Sharecast News.
The sp actually dropped 6.54% after the announcement!