Recently when i chat with friends, most of them would have said, Krono is good , with Quantum Storage China, krono future is bright, some of my friend put half of their wealth into Krono. When i advised them to be cautious, they don't like me.
Here are some of the facts that i found and advised my friend Krono price may not sustainable. Short term goreng-goreng is more suitable.
The fact is , it is not new in Krono to propose Private Placement and then to acquire Quantum Storage.
let's not dive into fundamental analysis , just simple historical data and see the characteristic of Krono.
In 2017 Krono acquired Quantum Storage HK which stir investors and traders' interest. It appeared on The Edge and everyone goreng it and invested in it thinking to hold long due to the super good bright future. That time when the news appeared on The Edge , it was around 0.960. However, the music stopped when the price shot to 1.2 and it keeps dropping for few months before it stabilized at price 50 cents to 60 cents. Many so called long term investors with strong faith in Krono has been losing money.
The same story repeat now. i am not sure if the history will repeat. but i personally dislike a company to always do private placement and acquire companies that the directors has relationship with it. If the company is solid, they should acquire other company with own cash.
Serbak is one good example with many private placement.
