Good to see that those who want out are now getting out. If they don't sell now they WILL sell on the next bit of good news, because they were only in it for the quick profit. So better they move on now and not create more selling pressure at higher levels.
The reality is if it's the placement stock coming out and getting dumped, they served their purpose and that was to get some dollars in the VRC bank to take us forward.
Hopefully when the stock is trading at 10c they will remember what they gave away.
There are plenty of shareholders in numerous stocks today who gave away stock way too cheap over the past few months who today wished they had been more patient.
I recently got involved in an I P O called Elsight. Code ELS.
It was a 20c float and it got sold down to 14c within a couple of days. For 2 months it did not get over 20c.
Hot copper enthusiasts were complaining it was the worst float they had ever invested in. Management was no good, Blah, blah, blah.
In August it ran from 15c and hit one dollar 2 months later in October.
4.7 million shares were sold in the month of June when it listed, between 14c and 20c.
I will let everyone work out for themselves the money that was left behind by impatient investors.
Cheers.
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0 | 0 | 0.000 |
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