hahahahaha I love when people try and use this logic. In a charts thread of all places. Trying to convince themselves something is "che@p" and a good buy, or worse a good idea to hold for a bigger longer loss...
It was up 3000%.
Its STILL up 650% from the starting accumulation before it ever took off.
Decent chance there are still plenty of people over 500% in profit even now.
Bottoms of downtrends are almost never a "bounce back up to highs" they are usually long long slow down trends, followed by months and months of sewage at the bottom while the people at massive losses sell out over time.
Bigger they are harder they fall and longer than ever to get back up again.
Between the dilution and the hype pump, especially on twitter, I would be amazed if this has any good news price wise for quite a while. No point in people getting upset about that.
Either walk away, or bottom drawer it for years I guess. Both options might be terrible for people who bought at top, (and lets just point out most retail buy at top and sell at bottom because smart money buys a stock on the rise, dumb money buys the fall thinking its "cheap") but really, its no different to any other stock, they all do it all the time, and people are always surprised.
Just an opinion, but its easy enough to look at the price movement, and see it went up, way to far, on hype. And until all that "dumb money" washes out, no half intelligent insto or serious trader would touch it. Too many people who want out now, at losses probably, and way too many other opportunities on the market for making money.
Doesnt mean anything against the company and the people who want to hold it long term, but smart money just will put their money where it makes more money, and its been pretty clear all the way down this isnt that place currently.
Basically the greater fools finally ran out.
The music stopped.
And a lot of smaller retail holders just noticed they are ones left standing without a chair....
Its unfortunate. But it happens over and over every day. People either learn, or they dont.
And its the people that govern the price movement. Not the company.
Thats why charts are so important. And people who never bother to learn them, or who pretend to but just say they see what they want to. Will end up broke, and gone.
In 2 months there will be another stock doing the exact same thing to a bunch of new people.
Trick is to be in that one before it runs, not chasing it at the top on FOMO.
#wedontchaseroundhere has never been a more important concept than on the markets.
Again. Just an opinion. Take it or leave it
AVZ Price at posting:
9.1¢ Sentiment: None Disclosure: Not Held
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