Monday, February 18, 2019

BestWorld Plunge : Business Times' scathing indictment appeared 3 days after we sold

Just 3 days ago, we discussed about Best World  , suggesting that it was starting to show signs of the final blowout of the distribution process and the advice was to sell into this strength.

True to form, today, BestWorld shares plunged from $3.25 yesterday to $2.71 today before it was halted . What happened ? See below Biz times article

This fall was apparently was attributed to an article in Business Times today giving a damning indictment of BestWorld sales revenue in China where BT did some channel checks and found BestWorld has a very insignificant presence in China  despite BestWorld management claims to the contrary.

I strongly advise  not to touch this stock with a ten foot pole even as the price plunges some more to hit some attractive demand zone as i believe it would ,  as I believe further down the line, more channel checks by other interested due diligence parties may unearth a bigger can of worms.

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