That "Global Hunter Report" cost investors hundreds of millions. Notice I did not say, that "Ping Luo Report". No one does because, ultimately, the report is issued by Global Hunter, not Ping.
In fact, Ping could not just publish the report. Ping had to get clearance from GH.
IMHO, as an analyst firm, GH was reckless by issuing the February report without waiting for the 10Q first. No major analyst would ever have done that. GH had final approval of what it published. GH pressed "send", not Ping.
GH should have shown discretion for two-four more weeks to get 10Q Deloitte verification.
CCME hoodwinked a lot of sophisticated investors and maybe they hoodwinked Ping too. But this blood is on GH and its shoddy standards, not some scapegoat analyst. Shame on GH.
(BTW, as a long I was delighted to see the GH Report when it came and I did increase my investment as a result of this GH Report. That does not mean GH had to rush to delight me or to defend itself. Discretion would have been their better path as a Securities Advisory Firm).
-Andrew
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