RE: Stock19 Sep 2020 13:12
@Apunter is always saying read the RNS several times. Then read it again.. and then again.
Lawyers screen every word, these are like crafted pieces of art. They can contain clues and hints either positive or negative.
The RNS in subject is one from ICON a few days ago, They have been in the worst form of death spiral finance going. Shares are handed out for directors wages and to pay down debts. Every time it happens, you the share holder are diluted.
They released an RNS stating about a new contract that will earn them profit and the "intention" to end the death spiral finance. I spotted that and didn't go in so big as intention is an open word. I also sold at the peak as the market cap got a bit hot for the contract size.
On day one, some piled in. Myself included and I was in the day before just by luck. One day after the first RNS. The TR1's came with the death spiral crew out. Everyone piled in. The share went from 0.008 before the first RNS to 0.033 at its peak. Then they dropped the bomb and released an RNS saying they are doing more death spiral, a few hours later, billions more shares issued at the price of 0.007 to the loan sharks. Look what happened to those buying at 0.03 and above hoping for ZAK's 0.05 target.
Go read the ICON board for the last week for a harsh lesson. I just got lucky with a bit of help from the wisdom of the likes of @Apunter telling us to read every word in detail. Thing is with ICON, The RNS heading, had the word intention in it.
Like i said yesterday, I have the intention to clean my shed, but it doesn't mean i will today.
Also a valuable lesson is having targets. To me, I was never going to hold a £3m market cap with just one £150k contract. Thats not profit, thats just the revenue. The 2nd RNS also reduced it to £100k. At 0.008 its worth a punt, but the thing is with death spiral, That 0.03 it hit, is way more market cap than the last time they hit that price. Because of the terrible finance deal and more shares in issue.
Really cold treatment of shareholders and the first ever pump and dump I've seen through RNS's and the company actually doing it. Again and again. I'm still awaiting a reply to my email from ICON. I had hoped it may become an investment, but its only ever been a trade due to the performance of the BOD and the treatment of shareholders.
Some great posts @Apunter. Trolls did the job of sowing doubt. Fear is a hard one for some.
False Expectations Appearing Real.
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