With the extra shares on the market and the price being at 10c, I can't see any reason why this will move upwards for some time yet. People are naturally going to take profits, especially considering they make 10% on any 1 sent incriments in the share price. My experience in this case is that there will be a lot selling pressure with any movements and it will keep coming back to near the placement price, notwithstanding any significant news.
I'm like most that are in at much much higher levels. It's not worth selling now (unless to offset tax), so it will be just a sit and wait. Any significant moves in the short term would be a nice surprise.
If you are in at these levels and believe the company won't fold, then just set and forget and clearly if the company survives, you are going to be sitting on a tidy profit. The CEO has obviously done what anyone would do and come clean early so to put all the blame (rightly so) on the previous CEO. It's all blue sky for him if he can bring this company back and it will bump up his CV.
PGA Price at posting:
$1.78 Sentiment: Hold Disclosure: Held
