Sell off over last 2 days

I analysed PYL a lot over the weekend. I was very happy with the long term story. The long term story still sounds very good to me.

I would urge people to go through the gold sector, iron sector and TON within the graphite sector to understand how profits can turn to losses. Gold had a huge boom some years back with stock prices making massive highs. The same happened with iron a year ago and with TON for some part of last year.

When the selloffs started, some people convinced themselves that the fundamentals were still intact. They were right with gold and TON. I don't feel that the fundamentals were in place for iron, however.

Once the selloffs started, the trickle of sellers soon turned into a flood and then to a tsunami. Over time, not only did the profits disappear but profits actually became huge losses and share price profits turned into massive losses. The same sellers who were buying at peaks did not (or maybe did not have fund to) buy at the bottoms.

I still think that the long term fundamentals are intact for PYL. However, in short run, anything can happen. The price could jump back over 90c tomorrow or sink to 20 c in 2 days. People hate making a loss and if IPO / early shareholders start booking further profits / cut future losses, then even the last IPO shareholder might eventually sell at 20c, and we could even end below.

I felt that the weekend price of 78 c would be crossed easily. I was half right and half wrong as the price jumped to 91c. Congrats to the shareholders who sold off. I think the sharp drop to 70c in a short time since then, spooked shareholders who then rushed to book profits. I won't be surprised if prices continue illogically falling like how gold stocks fell over the years and TON fell last year. I said over the weekend that there is plenty of steam left but kept giving warnings in every comment that a selloff could come any minute and hence please don't bet the family farm.

I am more of a contrarian long termer rather than a short termer. I think gold stocks represent truly phenomenal value right now. I think TON represents phenomenal value right now. I unfortunately am not willing to stick with PYL if it keeps going down due to illogical selling by people on speculation, lack of information, misinformation spread by others, etc. Hence, I sold off today at a loss. I very rarely sell at a loss (I'm a contrarian long termer). Sorry if I let down my fellow PYL bulls.

I analysed PYL extensively and started a thread over the weekend, if anyone is interested in getting a better idea of the fundamental picture. I would also advise people to read comments of (in no particular order) Dexter Morgan, LionHearted, Peter King, Oilyman, etc. These are honest shareholders who seemed to concentrate on long term fundamentals, and stating the truth.

Unfortunately, long termers might continue to find a lot of disinformation from time to time about the company, management, etc.  Please read all our comments on PYL to get a better idea about the company and industry. I'll be out of PYL for now but might come back later if price does go all the way back to 20c or lower. If it does shoot back over 90c and over,  then congrats to people who held on.

There is saying that the market can stay irrational longer than you can remain solvent. Never ever forget that.
Good luck to all investors. Cheers.