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No Value
Nova's stock is worthless scrap paper. This past week saw Nova's share price lose 25% of its value closing at 71 yen. At one point during trading it fell to 69 yen.
When METI handed out its punishment of Nova on June 13, Nova's share price started trading at 98 yen and closed at 88 yen. By the beginning of July, the share price had climbed back over 100 yen and hovered around this price range until Friday, July 20. When trading started on on Monday, the 23rd, the share price opened at 96 yen and kept on falling until it reached 71 yen today.
What's interesting is that the share price has fallen more over the past week than it did after Nova got punished by METI. Something is going on. So why the drop? Maybe something bad has happened and the press has yet to get whiff of it. Perhaps reality has set in and Nova's investors are abandoning ship.
I don't believe anything short of a full bailout of Nova by some investor can save the company. There are five months to go in Nova's punishment and the prospects are clearly not good. I don't know about the rest of Japan, but in the Tokyo-Kanagawa area, there is no Nova advertising to be found anywhere--not in newspapers, not in trains, not in the train stations, nor on TV.
The writing it on the wall and if you work for Nova, it's time to leave while you still have a paycheck. If you're thinking about working for Nova, don't. Just don't.
- Shawn's blog
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Comments
You're spot on. I was wondering the same thing myself. I live right smack in the middle of Tokyo, I take two trains to work, and whereas I used to see Nova advertising every day, I haven't seen any since the doo-doo hit the fan in June. Not anywhere.
For the share price to drop that much that fast, there has to be a reason. And to investors, whatever that reason is, they think it's worse than the METI sanction that hit last month. That's hard to imagine, but there it is.
Did you hear that staff weren't paid today? Apparently bonus delayed for staff too... Can you confirm? Staff is anyone who ISN'T a teacher, block trainer, A.T.
I don't know about the pay
I don't know about the pay situation, but I can ask around. If you find out anything yourself, you're welcome to post it here.
The significant problems we have cannot be solved at the same level of thinking with which we created them. -Albert Einstein
Shawn
can confirm no pay
my friend a canadian RAAM from southern japan got no bonuses and missed his payday. All staff are in the same boat. Like Jerry said "You'll see the rats jumping soon"
Stock market is very tricky. It can take u to the highest edges than drop you in the darkest abis. Succesful brokers have a gut feeling telling them when to buy or sell.