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Street Communication 101
Key considerations for directors:
• Poor Street communication practices can be especially penal for small-cap companies.
• Eight basic tenets comprise the core of prudent Street communication.
• Overpromising and underdelivering are hard for small-cap companies to recover from.
• When in doubt, just stick to the facts.
• Don’t hide from or try to disguise bad news.
• Be as transparent as possible about the things investors care about.
Common mistakes to avoid:
• Issuing immaterial press releases.
• Talking over investors’ heads.
• Providing either no business outlook or guidance that’s intentionally inaccurate (“sandbagging”).
• Dignifying Internet gobbledygook ...