The answers from my final question in our MUNCmedia “3-second survey” surprised me – at least, the middle score for IR websites did. My Shareholder.com/NASDAQ corporate services DNA expected more that 42%.
Here are some probable reasons:
As our question #3 illustrated, “day-traders” are a sub-group within retail investors. Personally, I equate these investors to institutional-based algorithmic / high frequency traders IE: they have no interest in the company history, message or vision. (“Why bother researching on the equity’s IR library? My HotTopTraderTips email just said WXYZ is going up today!”)
If you subtract all the tangible datafeeds, does the company deliver content beyond what the web delivers elsewhere? What are the intangible and unique research (sales) points on the IR site? (The companies themselves need to address this. This is not an IR website vender issue.)
IR websites are for single ticker deeper dives – essential for re-enforcing current individual shareholders’ buying decision but not so much for “shoppers.”
Many small and micro-caps do not even HAVE a dedicated IR section. Yike.