Actually, I wonder if the expenditure on scrambls caused the latest leg in the decline of the stock price. Another example of dilutive expenditure: the CEO simply doesn't seem to understand that a lot of people appear unimpressed by his relaxed attitude to shareholder value.
The general relief at the mothballing of WXP was about coincident with the beginning of the price rise. The opening of scrambls saw the acceleration of its fall.
Wave's management was on probation. And they have violated the discipline which was intrinsic to the recovery of shareholder trust.
Back to gaol.
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