There has been a lot of speculations and talks over the announcement of Joseph Calata on the news last Oct. 30, 2017.
The infamous Joseph Calata, in an effort to salvage his reputation in the trading market, talked about the introduction of the “Calcoins”, in his interview posted by Bloomberg, Calata Corp Founder and CEO Joseph Calata talks about what he feels about the Philippine Stock Exchange or PSI, he expressed his anger and stated that PSI has not done him right- through his words Calata stated ” “Bakit madadamay ang mga shareholders. Eh di parusahan nila ako, Yung shareholders nanahimik. Naniniwala ako unconstituional yun”.
Kevin Khoe, who is currently the Chief Investment Officer of Big Big Holdings, an investment holding company that specializes in funding internet startups and information technology ventures, and one of the most vocal traders in the Philippine stated his opinion on social media at the Traders Apprentice Pilipinas.
Kevin Khoe stated:
– No guts, no glory. This guy is simply amazing. He seems on to something.
Tender offer applies to the controlling shareholder. It is Joseph Calata who is supposed to do the tender offer and not $CAL.
$CAL has retained earnings amounting to P450.0m. They can initiate a stock buyback. This is constitutional and legal as per the Revised Securities Act.
It is sad to see that minority shareholders were left holding the bag. But what is worst is to make them look “dumb” by twisting the facts.
To atone for his sins, he can do the ultimate gesture by offering to buyback their shares from the minority shareholders at the price he sold it to them. Stop blaming the $PSE.
Note that he “dumped” 159.0m shares and raised close to P400.0m. He then spent P250.0m to subscribe to 125.0m new $CAL shares at P2.00. Do the math.
The announcement of Calata became an immediate source of joke and sarcasm inside the stock market trading group, some members went as far as to create their own version of ” Calata Coins” was a way to provide sarcastic jokes in response to Calata’s statements
A member of Traders Apprentice Jessie James Deocaris stated Mr. Calata – I just made my own cryptocurrency name “Scamcoin”. Guaranteed 1000x gain in 3 months time, more than enough for you to get out of the billion pesos shit you’re into. You can pay me with any available, tangible resource you have i.e cash, bitcoin, precious metals, cars, collectible card collection… anything except your stupid hair follicles and your imaginary Calcoins. PM me if your interested Mr. Calata. I’ll guarantee no media will be involved 😉
There is an ongoing rise in the number of Filipinos wanting to learn about cryptocurrencies, there are some who have expressed support for the CAL coins and stated it remains to be seen- if this new idea from Calata will work out.
While many Filipino stock traders remain skeptical- the Page Traders Apprentice Pilipinas serves as an open sounding board to members who want to learn about stock market trading and is one way for newbie traders to get an idea of how the flow of the stock marketing trading works.