Most of us lose money on the majority of the stocks we buy.... true? You bet it is. So... when something comes along which presents a profit people take a bit off the table. Personally I put a friend onto ALK recently. He bought somewhere around 60 cents and today sold the lot for $1.09. I have tipped a number of stocks to him over the years... ALK is the first winner and he is pleased to get some of his money back.
As for myself... I have sold down to a free carry position and happy to sit on ALK for as long as it takes... which is probably somewhere between 3 to 5 years in the best case scenario. [I will probably buy more from time to time to trade it along the way].
Early signs are Boda is a significant find. On just the current drill results ALK could put it up for sale and any number of other companies would bid for it. On potential alone it is probably worth $500M. Extracting the full value will take time, many more expensive holes and a bit of patience.
As can be seen from some of the posts above [and also my friend] it is not immediately obvious to everybody what the potential is. The share price will reflect that.
ALK Price at posting:
97.5¢ Sentiment: Hold Disclosure: Held
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