Such a free fall in this share. Management is more worried about warrants and expensive acquisitions rather focusing on business. They did everything to fool market with rosy expansion plans but could never execute them. Now they are talking about venturing into speciality chemicals. First i thought it will consolidate around 75 than 65 now way below 50. may be in this downturn it may touch 25. They keep posting terrible results YoY and AR talks about how they have been doing great business.
If they have been doing great business why isn’t share price reflecting same? If not for disruption in China this loss making company would have been history by now.
Management can pat their back because they managed to fool mutual fund houses not only retail investors.
Disclosure: Invested but reducing.