Handing back bonus may not be enough to save NextDC’s Craig Scroggie
The next chairman of NextDC will need to decide if the chief executive’s risk management failings will cost him his job.
The next chairman of NextDC will need to decide if the chief executive’s risk management failings will cost him his job.
There needs to be a clear explanation of what Australians get out of data centres otherwise the rhetoric from activists can start to make us a questionable place to invest
NextDC’s attempt to tell shareholders “we hear you” involved the CEO forgoing a bonus that was never going to happen.
Plato and Bronte Capital are among those profiting from Wednesday’s 40 per cent sell-off, but not everyone agrees.
Shares plunged more than 40 per cent after it disclosed problems with electricity connections – weeks after the power distributor said it was pausing work.
The data-centre firm’s insatiable appetite for capital meant brokers loved it. Now it’s pitched as a value trade, but only if it can survive.
NextDC’s savage share price sell-off is more evidence the country’s much-hyped AI infrastructure sector is bleeding. Two more big tests loom in the coming months.
NextDC’s nightmare share plunge proves monitoring mood rings and sleep cycles can be a distraction.