Often when shares plummet, analysts start churning out 'oversold' and 'buy on opportunity' recommendations. However, last week's 32.35 per cent plunge in technology red chip Founder Holdings elicited no such upgrades.
This might be because anyone following the company in the past five years has given up on 'new dawns' for the group.
Founder is one of those companies that tempt speculators. It was founded by a group of scientists from Beijing University, with founder Wang Xuan once hailed as China's Bill Gates.
Mr Wang's creativity helped produce a Chinese-language electronic publishing system (EPS) that has come to dominate 80 per cent of the market in China.
Yet the firm made losses in two of the past three years and some analysts expect more red ink for the next three years.
How did such smart people run such a lousy business?
