Following the recent GetSwift, BigUn and BlueSky debacles, there seems to be a huge focus by the ASX on disclosure. Anyone that holds AVZ will be incredibly frustrated at the recent suspensions but at the same time, can appreciate that the ASX is making a very valid point regarding market disclosure. I am of the opinion that following the recent controversies, the ASX has a fresh initiative and focus on cracking down on stocks making announcements to the public by any method. In the long term, I think this will benefit all and ensure that all investors are well informed. But at the same time, does anyone think that the market is going to just be completely flooded with announcements that have essentially no effect on the share price due to companies having to report every tiny thing that happens? Further, at what stage does puffery become completely inappropriate and cause for suspension? EDIT: This is not a post for disputing AVZ, which was used only as a recent example.
Lainey Day: Its not a penny stock! AVZ paid the fin review to run a story that blatantly lied! Absolutely rubbish stock and ridiculously over priced. â€œOhhh but its sitting on the biggest deposit of lithium on the planetâ€ this fact doesnt stop it from being a disgrace.
June Benson: You will get kicked out for talking about avz like that in here ðŸ˜‚
Ariyah Nichols: Lainey Day: If you want to have a rant about AVZ then go to HotCopper. The post clearly isnt solely about AVZ and was just providing a recent example. What Nigel of AVZ said could also be regarded as puffery, which I also addressed in my question. However, as the question stated, at which stage does puffery cause an uninformed market and is misleading?
Lainey Day: Define Puffery:his puffery actually was not far from the truth. Are you allowed to release information to the market that is not that far from the truth?You are right, the word AVZ triggered me. Its mentioned here nearly daily and for some reason any discussion on a stock that isnt a penny stock gets removed but AVZ just keeps on being mentioned.
Annalise Meyer: I think what would be more important is the ASX make sure companies arent provided false or misleading information. To ensure that announcements are based on facts and truth might be a good start….
Lainey Day: Annalise Meyer: haha that would certainly help. How do they control a paid advert when they â€œpufferiesâ€ (lie) to their audience?
Ariyah Nichols: I think it is a fine balance and it is good to see the ASX getting on top of it all
Ariyah Nichols: Martin to provide something to think about, without naming companies, there have a couple of companies claiming they have world or australia firsts or are australias largest producer of X (not mining companies) and we are expected to accept it a…See more
Lainey Day: companies can claim whatever they want providing its accurate. It is up to the asx to double check it and it is up to the investor to check as well. Surely no one buys a stock because in a report they claimed to be the best?
Ariyah Nichols: Not saying the following announcement is untrue in any way and I have ever reason to believe it is true. But take the following Ann A WORLD FIRST FOR MCL IN AUTOIMMUNE DISEASE RESEARCH…See more
Lainey Day: Im assuming medical research is different because they all read each others study notes and are a closer community. A junior explorer claiming to be the biggest deposit in the world couldnt be verified though. Investors should research everything or they are just jumping in on a whim
Ariyah Nichols: Good point.
Lainey Day: When companies use to release information to the asx it was generally the only place you could get information other than newspapers and libraries. Now with the internet companies and people associated with the companies can release market sensitive in…See more
Lucas Evans: Well avz went a drilled a hole for water for the camps dunny and pooed out more lithium…..
Ariyah Nichols: This is not an AVZ post, it was an example.
Ivanna Mccarthy: Sorry we hit peg when drilling for water and didnt â€œofficiallyâ€ increase our target we are sorry to inform we officially have a modest target â€œfor the Manono Project between 1Bt to 1.2Bt of 1.25% to 1.5% Li2O, including between 300Mt and 400Mt of 1.25% to 1.5% Li2O for the Roche Dure pegmatite alone.â€Hahah
Ariyah Nichols: Haha Matt, as I stated to Grgo and other comments, I am trying to keep the focus away from AVZ and more on the disclosure issues. NB: I hold AVZ and need them to well, but the post concerns ancillary issues.
Ivanna Mccarthy: Ariyah Nichols: yeh thats the issue Theyve hit peg instead of water upped the target to 1.5Bt but didnt â€œofficiallyâ€ release it Anyone who has half a clue would assume that if we hit extensions outside the current resource boundary the Tonnage target wound increase….See more
Ariyah Nichols: Oh no, dont get me wrong, I appreciate the issue regarding AVZ and why/why not theyre in the focus line. I also think that recent events may have contributed to why we may be in the focus line. I am more just wondering if anyone is noticing a marke…See more
Caden Garza: Interesting post and obviously somebody doesnt want to highlight AVZ. My option for what its worth, they are targeting the worst offenders and AVZ is probably the worst and good on them for trying to clean up this shit
Ariyah Nichols: If I didnt want to highlight AVZ then I would not have included them. This post was clearly not aimed at an AVZ discussion. However, since you asked, I would like to highlight that AVZ has recently been involved with issues with the ASX regarding di…See more
Ivanna Mccarthy: Ariyah Nichols: good point.Seems to be heat on media and social media related articles by prominent figures.I think its the â€œAssad â€œ effect….See more
Mackenzie Roy: My favourite trader at the moment, the consistent movements make it very easy and ML has been a godsend for picking rises and falls ðŸ˜‚
Willa Valdez: Might need to remove the avz reference before the thread derails but theres been a need for regs to crack down for some time. Now theyre just going too far the other direction asking for particulars. It may be to the detriment of trading in some penny stocks which previously left a bit of ambiguity for traders to speculate and build up hype.
Ariyah Nichols: The reason I included the AVZ reference was because I know it is a recent example and dont want to name other stocks without knowing all of the details and therefore potentially defame a company. If the discussion cant move past AVZ then Ill just remove the post. I agree with your comment though!
Elias Lynch: Only the ones with poor disclosure are getting done. Thankfully it appears only a few culprits.
Ariyah Nichols: How would you deem poor disclosure? Would a photo about mine progress on twitter without an announcement poor disclosure? Not naming names, just seems inconsistent.
Elias Lynch: Its not up to me, its upto asx! And from my experience asx are very consistent
Ariyah Nichols: Fair call!
Brooklynn Black: Twitter in my opinion is so unprofessional of a CEO. If you need anymore proof of Twitter and unprofessionalism then look no further than Donald Trump
Bailey Parks: What about jerkos interview telling everyone jorc and BGLCE will be announced hopefully as soon as he lands over there.
Elias Lynch: This is my lith play. A much better one in my opinion due to near term production plus other positives.