@ jack, @ qfat
It's great to get confirmation from someone who was actually in the room for the Gary meeting, and I recall Goli, LETITBE, and Chad all confirming that the meeting was legit also, even though none of them stated that they were actually there ..(please correct me if I'm wrong on that point). There was never a lot of doubt about the legitimacy of the meeting because
a) Gary had stated he was coming to AU to talk to investors,
b) a brokers recommendation "pops up" in Sunday Times 2 days after the meeting and
c) the volume on Friday and Monday went way above average as the share price headed north... a sure sign of new interest in the stock
.. so thank you all again for the confirmation.
Looking at the lower volumes yesterday and today, the thing that is amazing is that here we have SYT with all the announcements that have been released about partnerships with Verizon, the IOS release, content providers like Perform, Konami, EA Games etc, the employees taken on for OTT development, the end of zero rating from FCC in US, expansion into India and Mexico... I could go on but you get the picture, that all of these announcements have come and gone yet the share price is sitting virtually where it was when SYT relisted after the RTO. So why is this?
It's due to 2 things in my mind...
1. Unfounded fears in the minds of investors that SYT somehow won't be able to achieve their stated goals, in spite of all the evidence above...
2.Impatience causing investors to sell out and move on, and lastly
3. The effect of Short Term Traders on tech stocks on the ASX, who drive the price up short term and create the classic pump and dump which catches many investors out.
This happened to SYT in September last year. The share price increased from $0.24 to $0.56 in 21 days from Sept 9 to Sept 30. A lot of the investors that bought on the way up will have sold out for a loss now. I know not all of them have sold out though, as I added to my position, as did a lot people I know, as the price was rising and I've added more recently for an average cost of exactly $0.037 The last 12 months have been an accumulation, and I'm incredibly happy about it
However as LOTM rightly stated recently, the sad thing about a lot of people that have sold out, is that they may never come back to SYT, just as the fun is about to begin.
The fun will start when the revenue starts to flow. There will be an increase in revenue in the Q to be released end of April, as it won't be hard to beat $18k, but the revenue in the Q that we're in now and the following ones will build and build as Verizon roll out their OTT solution, TATA launch their SDX and the likes of Perform Group are able to utilise the SYT OTT solution.
Gary has stated that he's smiling about the revenue, and that he's not concerned about the share price, as this will follow the revenue. There has been zero evidence of any top 20 holders selling SYT (except maybe Nauv do a little trading on the side) .. so why should we LT holders worry? We'd be better of to continue accumulating now as many have been, anticipating the day that we see our patience and our faith in SYT paid off in bucketloads. The revenue will drive the share price in our next rally, not the Short Term Traders. And the next rally won't retrace. If you're an SYT shareholder now, you'll be very glad you held.
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