12-07-2013, 02:58 PM
Maybe SA thought Toro's report did not add to the conversation so no part 3? J/K. Not even SA would be that biased... or would they...
Lets put things into context. MW has not released a "report" since 11/12/2013. That report by MW was not even worthy of a response as it was a personal attack on management, not on the company itself. Since that report, all the subsequent short reports have been by armchair analysts who have regurgitated the same argument over and over again. At the end of the day, all these short articles are really just noise. Toro may have sold their stake, who knows. They may be trading in and out of NQ for all we know. Shoot, they may even be accumulating a major short position and waiting to release a damaging report. All of these are possibilities and part of the inherent risk in investing in a stock like NQ. While a positive report by Toro would be ideal, the most important thing today is the company continuing to operate as usual. There have been no unanswered inquiries, no management or board resignations, no auditor resignations, earnings came out on time, the analyst day was well attended, and the annual general meeting is going forward as usual. Those are the only important variables from 10/24/13 to the results of the audit. Even the most diehard short supporters will agree that none of the back and forth banter matters until the audit is out.
If and when Toro is ready to release their report, they will. Until then, you can either choose to rely on your own DD, write your own article and hope the SA editors like it, hedge your investment or sell and move onto a different investment. In fact, I would encourage everyone who has an opinion to write an article. The journalistic specifications as to what SA accepts as newsworthy seems to be fairly wide-ranging. Based on what I've seen most recently, just slap a "Capital or Fund" after your name and I'm sure whatever you write will get fast tracked to getting published.
Lets put things into context. MW has not released a "report" since 11/12/2013. That report by MW was not even worthy of a response as it was a personal attack on management, not on the company itself. Since that report, all the subsequent short reports have been by armchair analysts who have regurgitated the same argument over and over again. At the end of the day, all these short articles are really just noise. Toro may have sold their stake, who knows. They may be trading in and out of NQ for all we know. Shoot, they may even be accumulating a major short position and waiting to release a damaging report. All of these are possibilities and part of the inherent risk in investing in a stock like NQ. While a positive report by Toro would be ideal, the most important thing today is the company continuing to operate as usual. There have been no unanswered inquiries, no management or board resignations, no auditor resignations, earnings came out on time, the analyst day was well attended, and the annual general meeting is going forward as usual. Those are the only important variables from 10/24/13 to the results of the audit. Even the most diehard short supporters will agree that none of the back and forth banter matters until the audit is out.
If and when Toro is ready to release their report, they will. Until then, you can either choose to rely on your own DD, write your own article and hope the SA editors like it, hedge your investment or sell and move onto a different investment. In fact, I would encourage everyone who has an opinion to write an article. The journalistic specifications as to what SA accepts as newsworthy seems to be fairly wide-ranging. Based on what I've seen most recently, just slap a "Capital or Fund" after your name and I'm sure whatever you write will get fast tracked to getting published.