Following learned advice from some posters late in January I decided to buy a company much talked about on HC. Prospects were huge with talk of deals worth millions. The sheer amount of posting on this stock convinced me. Posters on HC were in possesion of inside information and shared it with us all. One poster even worked at the place one of the big deals was happeneing. Another had sat next to the managing director on the plane, yet another had the intimate travel details of senior executives of the company. This was a sure thing if I had ever seen one !!! With all this information being given freely by our fellow members it seemed like Christmas.
Now three months later and the price sitting at 30 % of what it was I am wondering what went wrong?? How could all this good information be incorrect ?? How could the same people talking up the price 3 months ago still be talking it up now ?? Is this at all rational ?? The same people are saying just stick in there it will be all alright, I think they are forgetting they have already lost 70% of their money !!! Are they mentally imbalanced. I know one is senile being over 80 years of age we now find out !!!
Today there were 62 posts on HC so far for this company and the vast majority were bullish. The first one from the man in the US who now claims he knows exactly who is going to use the product. Only his 25th claim of inside information and so far zero for 25 !!!
So why has my investment lost 70% of its value ??
WAKE UP YOU IDIOTS !!!!!
Obviously I did not purchase this company and in fact one of the few who clearly attempted to bring some reason to the discussion when the price was much much higher. From here the price needs to triple just to get back to where it was a few months ago.
It was not until I did a search of this company on HC was I truly amazed firstly to see the amount of posts still coming and even more amazed the same posters still defending their call. I put these idiots on ignore a long time ago. If you had recommened a stock at $1.00 and it was now at $0.30 would you still be calling for it to go up ?? The behaviour of these posters is not rational !! Hence the ignore.
I suspected they were maybe insiders some time ago and mentioned my suspicions. It turned out it was correct .... turned out the second largest holder of the stock was secretly selling and decided to ignore the corporations act regarding reporting of the fact he was dumping the stock !!! As for the management of the company ... I would not beleive a word they said. Chairman resighns ... oh by the way I sold my stock ... new director appointed blah blah blah ... not a word about the fact he already was a company employee ... the list just goes on and on.
Now I am not going to mention the companies name with 62 posts already today enough is enough. Suggest if you see a bullish post on it, reply and post something negativly about the comapny the more ridiculous the better.
In fact if you see any company and after looking into it if the claims seem stupid being made on HC please post. If you know something and are an expert or have pertinant information please post. Don't post just to put a company down !!! I shall repeat that ... please don't just post negativly to put a company down. If you are no one liners and please explain your position !!
Whilst I was not one of the idiots caught in this scheme a lot of people who read posts on HC were. So if some person is claiming inside information or something so ridiculous which you KNOW not to be true ... POST and make the rest of us aware !!!!
Hot Copper is not a fan club and stocks go both up and down. Someone has to argue the other side ....
ASX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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