I can't figure this one out. I know that things haven't been going well at RNK, but they're still doing business, still have cash, big assets, still making money. They repurchased 500,000 shares last year at 3.75, and now they're trading at 1.32??!!
The web site isn't much help when you're looking for analysis or independent commentary. Four research reports are linked, but you can't actually read three of them and the fourth house doesn't even show the report which RNK claims is there. I asked the IR guy some months ago why he didn't just display the reports, and he said he could not because of copyright restrictions...I didn't get it then and I still don't now. Many companies display research reports openly on their web sites, or link to them, and reports are published daily in newspapers and magazines. Good reports attract business for brokerages, why hide them?
Can anyone on the west coast explain what's going on? I'd sure like a proper explanation of what led to the CEO resignations and why there isn't legal action in relation to that. Also whether the IR guy is competent...why haven't we seen anything about what transpired at the AGM on June 25th, the appointment of Vivash, what progress we're making on the sale of PMP, details like that?
Steve G>) |
