I sold another batch. I have been doing this for several months and I don’t regret it one bit. I have been gradually transferring my funds to other stocks (including lithium). This strategy has worked quite well for me. My stake in Galaxy is less than 1/4 of the maximum I once had. I will not blink once to sell the rest, but I have decided to temporarily delay this decision. I may keep the shares a bit longer to wait for the miraculous turnaround, takeover, JV, firing of management or surprise that others have speculated here, but my hopes are not high. I suppose that there is also some sentimental value or attachment in my decision to temporarily keep the shares since I have invested in this stock since 2016. This is ok by me because I do value and still have hope in this company’s tremendous potential due to its diversified resources. I also appreciate the good money I made during the run a few years ago, but I am down overall. It is a shame that a few greedy and clueless men with ties and suits at the top have turned this jewel into shambles.
My other stocks also involve risks, but with one key difference: better management. I admit that the extra cash from POSCO did help a lot, but it has also hurt because it has given management Carte Blanche to play monopoly with A40, LPD, and poor management of SDV, JB, MC, etc. Let’s also not forget the poor/mixed messaging, the gifts they give themselves without any proven performance, the over-promising and under-delivering (opposite to Mr. Hollywood AT’s claims), the wild changes in guidance/plans, the indecisions, the wasted cash with no accountability, MC at risk of C&M, the lack of respect for shareholders by MR, his son’s finger, Bachus the pompous Hut, the sweeping of A40 under the rug, the gag order for questions in an open meeting and other authoritarian/clueless BS. I laugh when I still read comments defending these clowns/crooks. I am convinced that any other half-decent management group would have done much better than the one currently in charge.
I often hear the good advice that you should never marry a stock. The second part of this advice should state something like “If you do marry a bad stock, be ready to divorce it”. I guess I have been preparing divorce papers for a few months, and will proceed unless a miraculous reconciliation occurs!
Good day to all and good luck with all your investments!
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