I agree with you on this @embtux . Its a double edged sword for them.
- Dont come out with a clarification: Corporate governance is weak, no response from promoters on allegations, must be involved in the pump and dump scheme, don’t care for the retail investors etc.
- Come out with the clarification: Something is fishy, promoter is too focused on the stock price, something must be wrong.
Personally feel the clarification provided was okay. Did not go into a defensive mode about the entire ordeal and clearly stated that the have no decision-making influence on the actual business, which is a very important thing. Small/Micro caps will always come with risks and chances of being manipulated due to lower liquidity and market cap, but it’s the promoters guiding the company that wins out in the long run.
Disc.: Invested
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